Published
Land-BasedCasinoFinancialIndustry

SBM profits grow

Société des Bains de Mer (SBM), a casino operator from Monaco partnered with Macau’s Galaxy Entertainment Group, recorded a net profit of €26.1 million ($29.3 million) for the 2019/2020 financial year.

montecarlo

The recorded period is 1 April 2019 – 31 March 2020.

The consolidated profit grew due to the 18% increase in revenues: 8% growth in the games sector and 12% increase in the hotel sector, a significant rise compared to the 2018/2019 financial year when consolidated net profit was €2.6 million.

SBM’s revenue for the time period was €619.8 million, an increase from €526.5 million for 2018/2019 FY. In addition, operation profits reached €22.6 million compared to the €9.6 million the previous year.

The popularity of slot machines increased the gaming revenue by almost 8% to €239.8 million, compared to the turnover of €222.7 million in 2018/2019.

The company lost close to €15 million in March because of the pandemic, but SBM recorded a €93.3 million turnover when Monaco’s casinos closed mid-March.

CEO Jean-Luc Biamonti said, “This €93.3 million increase in turnover is the result of an improvement in revenues in all business sectors, recorded continuously throughout the financial year until the end of February.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...