Ste des Bains de Mer et du Cercle des Etrangers a Monaco
BAIN
ISIN MC0000031187 / Valor 596114
Ste des Bains de Mer et du Cercle des Etrangers a Monaco
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About company
Société des Bains de Mer et du Cercle des Etrangers à Monaco, commonly known as SBM, is a prominent publicly traded company based in the Principality of Monaco. Established in 1863, SBM has a long-standing history in the region, initially gaining prominence through its exclusive rights to operate gambling activities in Monaco. Today, the company is a major player in the hospitality and entertainment sectors, owning and managing a diverse portfolio of properties. These include the iconic Monte Carlo Casino, the Opéra de Monte-Carlo, and the luxurious Hôtel de Paris. SBM's operations extend across various domains, including accommodation, dining, entertainment, and gambling services. The company boasts a wide array of establishments such as casinos, hotels, restaurants, bars, nightclubs, spas, beach clubs, and golf clubs, with the majority of its 58 properties located within Monaco. Through its extensive offerings, SBM plays a significant role in shaping the luxury and leisure landscape of the principality.
Summarized from source with an LLMView SourceSector: Consumer ServicesLatest Results (28.02.2026):
Ste des Bains de Mer et du Cercle des Etrangers a Monaco — fiscal year 2017/2018 (year ended 31 March 2018). The Group reported consolidated revenue of €474.6m (+3% versus prior year), an improved operating loss of -€27.1m (from -€32.8m) and a consolidated net loss attributable to owners of -€14.6m (improved from -€36.4m). Key drivers were stronger hotel and rental activity, improved performance at Betclic and slot machine growth, partly offset by renovation costs and new collective-agreement labor costs; capex was very high at €191.8m and net debt moved to €50.9m.
Top-line
Consolidated revenue rose to €474.6m (+€15.8m, +3% year‑on‑year). Hotels led the increase (€234.7m, +€16.2m) driven by partial reopening of Hôtel de Paris, Monte‑Carlo Bay and Le Méridien Beach Plaza; rental revenue was €40.9m (+4%) and gaming revenue was €200.7m (broadly stable vs prior year).
Profitability
Operating loss narrowed to -€27.1m (2017: -€32.8m). Consolidated net loss attributable to owners improved to -€14.6m (2017: -€36.4m), producing EPS of -€0.60. Improvements reflect better hotel performance, slot machine growth and a stronger contribution from Betclic.
Segment performance
Gaming: revenue €200.7m; operating loss (after depreciation) ~ -€14.8m. Table games fell, but slot machines rose ~7%. Hotel: revenue €234.7m; operating loss ~ -€5.1m, with a €10m estimated negative impact from Hôtel de Paris renovation on hotel operating income. Rental: revenue €40.9m; operating income €23.4m.
Cash, debt and equity
Cash generated from operations €23.6m. Heavy investment led to a swing from a prior cash position to net debt of €50.9m. Equity stood at €624.8m. Market price at fiscal year-end reported €54.80 per share.
Investments & major projects
Capex (purchase of PP&E, intangible and financial assets) was €191.8m for the year. Major projects include the Hôtel de Paris Monte‑Carlo renovation and One Monte‑Carlo development; combined project cost close to the revised budget (~€660m) with delivery expected end‑2018/early‑2019 for the main elements.
Non‑recurring items and accounting notes
Operating income was impacted by €10m of Hôtel de Paris renovation effects and €7.5m of costs from new casino collective agreements (down from €10.1m prior year). Note 21 discloses a change in sector allocation of certain group costs (≈€3.7m reallocated from gaming to hotel/rental), which affects inter‑sector comparability.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2725 M
Market cap (USD)
1,394
Daily traded volume (Shares)
100.5 / 99.2
1 day high/low (USD)
52 weeks high/low (USD)
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