Monte Carlo casino hit by virus impact

Monday 25th January 2021

The casino-owning SBM Group in Monaco has suffered from the effects of the pandemic like all other operators and its figures for 2020 show that.

The company that manages and owns casinos, hotels, restaurants, bars, night clubs, spas, beach clubs and golf clubs, mostly in Monaco, andincludes some big names, such as the Monte Carlo Casino, the Opéra de Monte-Carlo and the Hôtel de Paris in Monte Carlo, reported a 23 per cent drop in sales in its third quarter.

From October to end December revenue was €93.8m compared with €124.3m in the comparative quarter.

"The Covid-19 epidemic is still having a strong impact on the activity of the group. While the Principality of Monaco has not imposed confinement to deal with the second wave of the epidemic which is raging this fall in Europe, the time slots for reopening casinos and restaurants have nevertheless been reduced from November 1 and other venues are closed."

Revenues from gaming operations were €45.9m, down 16 per cent. For the first nine months of the fiscal year, turnover was €264.5m for the group, compared with €532.9m, down 50 per cent. The group has released 161 staff during the year.

Source
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