Société des Bains de Mer sees Q1 growth across all business segments

Monaco-based Société des Bains de Mer (SBM) Group reported consolidated revenue of €244 million ($286.5 million) for the first quarter of its 2025–2026 financial year, up 12% from €218.4 million during the same period last year. The increase reflects year-on-year gains across its core business sectors, including gaming, hospitality, and leasing.

The operator of Casino de Monte-Carlo and Casino Café de Paris said its gaming revenue rose by 8% to €50.6 million ($59.4 million) in Q1, up from €47 million. Growth in table games volume contributed to the result, though SBM noted it was partially offset by unfavorable risk early in the quarter.

Hospitality remained SBM’s largest revenue source, accounting for €148.9 million ($174.8 million), an increase of €18.6 million or 14% compared to the prior year. The company attributed the growth to increased hotel occupancy, higher restaurant traffic, and price adjustments across its properties. SBM reported record-high hospitality revenue for the period.

Chairman and Deputy CEO Stéphane Valeri said: “Revenue for the first quarter of the 2025–2026 financial year increased in all business segments and confirms the growth momentum of the S.B.M. Group, as well as the relevance of our strategy. The activity of our hotels and restaurants was particularly dynamic throughout the quarter, particularly during the Monaco Formula 1 Grand Prix.”

The Group’s leasing segment, which includes retail and office space and hotel residences such as Monte-Carlo Bay, Balmoral, Villas du Sporting, and One Monte-Carlo, generated €39.2 million ($46 million), up 6% from €36.9 million. The increase was attributed to the gradual leasing of new retail units at Café de Paris and rent indexation adjustments.

The remaining revenue of €9.2 million ($10.8 million) came from other non-disclosed business departments. Internal disposals recorded a loss of €3.9 million, slightly higher than the €3.7 million loss in the previous year.

In early 2024, SBM completed its acquisition of the Palace des Neiges in Courchevel 1850. In January, the company announced the name of its upcoming hotel and casino project in the area as Monte Carlo One – Courchevel.

In a separate initiative, SBM entered into a partnership with Crystal Cruises to launch an online version of Casino de Monte-Carlo aboard the cruise line’s fleet.