In the dazzling realm of Monte-Carlo, Société des Bains de Mer (SBM) Group, the revered operator behind the iconic Casino de Monte-Carlo and Casino Café de Paris, has unveiled a spectacular rise in its Q3 2023/24 gaming turnover. This exclusive report dissects the financial triumphs, sectoral contributions, and strategic moves that underscore SBM’s resurgence in the ever-evolving landscape of luxury gaming and hospitality.
SBM Group has set the stage ablaze with an impressive 12% surge in gaming turnover for Q3, reaching an outstanding €48.6m ($52.6m). This stellar performance reflects the resilience and strategic prowess of the group, showcasing a substantial increase from €43.6 million recorded during the same period last year.
Breaking down the Q3 earnings, gaming emerged as a formidable player, contributing 35.9% to SBM’s total turnover. The hospitality sector follows closely, accounting for 38.5%, while the rental sector rounds out the trifecta with a 26% contribution. This strategic balance highlights SBM’s diversified revenue streams, fostering stability and growth.
Despite the downturn in Q3 compared to Q1, the cumulative consolidated group turnover for the first nine months of 2023 (1 April–31 December) has risen by an impressive 4%, totaling €580.7m. This not only signifies SBM’s strong recovery post-Covid but also positions it as a key player in the resurgence of the luxury gaming market.
While current turnover levels slightly lag behind the exceptional €53.5m generated in Q3 2021, it’s crucial to contextualize this against the challenges posed by the global pandemic in 2020. The current metrics serve as a testament to SBM Group’s resilience and its ability to rebound in a market reshaped by unprecedented disruptions.
They had the privilege of speaking with Monte-Carlo Société des Bains de Mer COO Pascal Camia at ICE London 2023. In an interview for The Huddle, he shared insights into SBM’s ambitions and the pivotal role of diversifying casino offerings. This vision, coupled with strategic decision-making, has played a vital role in propelling SBM’s resurgence in the gaming and hospitality sectors.
The interview coincided with the departure of the then Director, Jean-Luc Biamonti, in January 2023. Pascal Camia has since assumed the role of Chief International Development Officer of Casinos, Hotels & Restaurants at Monte-Carlo Société des Bains de Mer, effective May 2023. This strategic move positions Camia to spearhead international expansion and innovation within the SBM Group.
As SBM Group continues to navigate the dynamic landscape of luxury gaming and hospitality, the surge in Q3 gaming turnover becomes a stepping stone for future success. With Pascal Camia at the helm of international development, SBM is poised to explore new horizons, innovate offerings, and maintain its status as a beacon of opulence in Monaco.
Nevertheless, the 12% rise in Q3 gaming turnover solidifies SBM Group’s position as a dynamic force in the luxury gaming market. As the global landscape evolves, SBM’s strategic resilience, diversified revenue streams, and visionary leadership set the stage for continued success.
