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Monaco – SBM sees GGR grow by five per cent in first quarter

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During the first quarter of the year, the Société des Bains de Mer and its subsidiaries reported an increase in revenue of 2.6 per cent.
Turnover for the group came in at €127.5m with the increase driven by favorable developments in the gaming and rental sectors. Hotel activity remained broadly stable compared to the previous year.

Gross Gaming Revenues were up five per cent reaching €44.6m for the quarter. SBM said the increase was due to “a favorable change in the hold , turnover in table games growing by more than six per cent, whilst automated equipment also progressed favorably, in particular at the Casino Café de Paris.”

Hotel revenue was stable at €70.3m, compared with € 69.9mfor the same period last year.

In addition, the rental sector, which includes the rental of shops and offices as well as the activities of the Monte-Carlo Bay, Balmoral and Villas du Sporting residences, posted a turnover of € 10.4m up nine per cent. SBM said: “If the trend observed since April 1, 2017 is slightly more favorable in the gaming sector, the random and seasonal nature of the activity does not allow for forecasts for the whole gaming industry. ‘exercise. ”

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