Monaco’s economic vitality is closely tied to the fortunes of its premier luxury group, the Société des Bains de Mer (SBM). The company, which operates some of the principality’s most iconic establishments including the Monte-Carlo Casino, the Hôtel de Paris, and numerous restaurants, recently released its financial report for the first quarter of the 2025/2026 fiscal year. The results paint a picture of strategic success and robust growth, confirming SBM’s strong position in the global luxury market.
The report reveals that SBM posts impressive growth and achieved a significant 12% increase in overall revenue compared to the same period last year. Total revenue for the quarter reached €244 million, a notable jump of €25.5 million from the previous year’s €218.4 million. This strong performance across the board validates the group’s current strategy and indicates a powerful momentum heading into the new fiscal year.
Hotels and restaurants lead the charge
The engine of SBM’s first-quarter success was undeniably its hotel and restaurant sector, which soared to new heights and set a new revenue record. This sector posted a remarkable 14% increase, growing by €18.6 million to reach €148.9 million, up from €130.3 million in the same period last year.
This exceptional growth was largely fueled by a particularly dynamic quarter for hospitality, with business buzzing throughout the period. The report highlights the Monaco Formula 1 Grand Prix as a key driver of this success, drawing a global influx of high-spending visitors and ensuring the group’s luxury hotels and fine dining establishments were operating at peak capacity.
Gaming’s steady hand and unpredictable future
SBM’s gaming sector also contributed to the overall positive results, recording a solid 8% increase in revenue. The sector generated €50.6 million for the quarter, an increase of €3.6 million from the €47.0 million reported the previous year.
While the growth is a welcome sign, the SBM noted in its report that the very nature of the gaming business makes it difficult to predict its full-year performance with certainty. This acknowledges the inherent volatility of the industry while celebrating a strong start to the financial year.
Rental portfolio expands its footprint
Finally, the group’s diversified rental business, which includes commercial spaces, office rentals, and luxury residential properties, also saw a positive revenue bump. The sector, which encompasses prestigious locations like the Balmoral and One Monte-Carlo residences, posted revenue of €39.2 million, a €2.3 million increase from the previous year.
This steady growth is attributed to two key factors: the gradual leasing of new commercial spaces at the historic Café de Paris and the regular contractual application of rent indexations. These stable, recurring revenue streams demonstrate the strength and resilience of SBM’s expansive real estate portfolio.
The first quarter’s results confirm that SBM is not only recovering but thriving, driven by record-breaking performance in its hospitality sector and sustained growth across all its key business areas. The company’s winning streak suggests a bright outlook for the rest of the year.
