SBM reports gains across all sectors as hospitality and gaming lead growth trajectory
SBM Group Begins New Fiscal Year with Strong Revenue Growth
Monaco-based luxury casino and hospitality giant Société des Bains de Mer (SBM) has kicked off the 2025/26 financial year with a strong performance, posting €244 million in total Q1 revenue, according to its latest earnings report for the period ending 30 June 2025. This marks a 12% year-on-year increase, building on the group’s momentum following a record-breaking FY 2024/25.
The company—best known as the operator of Casino de Monte-Carlo, Casino Café de Paris, and several high-end hotels—reported positive trends across all major business divisions, reinforcing the effectiveness of its expansion and diversification strategy.
Hospitality Sector Leads with Record High Revenues
The standout performer in Q1 was SBM’s hospitality segment, which generated €148.9 million, up from €130.3 million the year prior—marking a 14% annual growth. This is the highest quarterly revenue ever recorded by SBM in the hotel segment.
The boost is attributed largely to robust demand during high-profile events such as the Monaco Formula 1 Grand Prix, which significantly lifted bookings and restaurant traffic. The operator’s strategy of expanding premium services and enhancing its seasonal offerings has proven fruitful in attracting affluent clientele from across the globe.
Gaming Revenue Rises Despite Challenging Climate
SBM’s gaming segment, including the operations of its iconic casinos, recorded €50.6 million in revenue, reflecting a solid 8% increase over Q1 2024/25. While not as steep as hospitality growth, this rise demonstrates resilience amid broader challenges facing land-based gaming, including competition from online platforms and regulatory scrutiny.
Gaming remains a vital contributor to SBM’s revenue mix and brand identity, and this increase signals a continued return of high-stakes international players post-pandemic.
Real Estate and Diversified Assets Contribute Steady Growth
The operator’s rental business added €39.2 million, a 6% improvement from the previous year. Meanwhile, other business activities contributed €9.2 million to total revenue. Notably, internal disposals resulted in a €3.9 million loss, slightly higher than the €3.7 million loss recorded in Q1 2024/25.
While minor in the overall financial picture, these losses underscore the complexity of maintaining operational agility across a diversified asset portfolio.
Recent Developments and Strategic Expansion
SBM has continued its strategy of expanding beyond Monaco. In early 2024, it finalized the acquisition of the luxury Palace des Neiges in Courchevel 1850, a move first hinted at in 2023. The new site is expected to be rebranded as Monte Carlo One – Courchevel, incorporating both hospitality and gaming facilities to mirror SBM’s elite Monte Carlo offerings.
Additionally, SBM’s partnership with Crystal Cruises has expanded the reach of Casino de Monte-Carlo to the seas, offering an immersive onboard luxury casino experience. This aligns with SBM’s goal of tapping into new high-net-worth audiences globally.
Leadership Optimism and Outlook
Commenting on the results, SBM Chairman and Deputy Stéphanie Valeri praised the group’s performance:
“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.”
Looking ahead, SBM’s strategy appears focused on maintaining premium positioning, geographic diversification, and brand elevation, ensuring that it remains one of Europe’s premier integrated resort operators. If current trends hold, 2025/26 could mark another record-breaking year for the historic Monaco operator.
