The operator of Monaco’s Monte Carlo Casino has reported that gaming revenue increased by 8% in the 2019-20 financial year.
Monaco.- Societe de Bains de Mer (SBM), the owner of Monte Carlo Casino, has reported that gaming revenue rose by 8 per cent year-on-year to €239.8million for the period from April 1 2019 to March 31 2020.
Slot machine revenue climbed by 11 per cent to €113million while revenue from table games rose by 5 per cent to €113.5million.
Total revenue for the company, which also owns the Opéra de Monte-Carlo, and the Hôtel de Paris, rose by 18 per cent to €619.8million.
Total operating profit was €22.6 million, which compares to a loss of €9.6million in the 2018 – 2019 financial year. Profit from gaming increased by €0.5million.
SBM was affected by Covid-19 in the final weeks of the year, closing on March 15, which is estimated to have made a €15million dent on revenue.
It has cut costs, placing staff under the Principality of Monaco’s support package and has received a €230million credit facility from banks.
Casinos in Monaco will be allowed to reopen from tomorrow (June 2). Land-based casinos in many countries in Europe have now reopened or have dates to do so, including in Austria, Germany, Poland and Denmark.