Monaco’s SBM Revenue Jumps 25% to €179.7M in Q3 2025/2026

La Société des Bains de Mer (SBM) of Monaco posted a marked acceleration in activity in the third quarter of the 2025/2026 fiscal year, which ended in December. Its consolidated revenue jumped 25% year-on-year to €179.7 million, compared to €143.5 million a year earlier.

The gaming sector was the main driver of this performance, with revenue soaring 67% to €75.5 million. This exceptional growth stemmed from a 45% increase in table game volumes, a 29% rise in electronic gaming machines and a favourable variance of 51%. The latter figure means that SBM’s winnings were 51% higher than the average expected for this period, based on normal betting and gaming probabilities.

The hospitality business advanced 7% over the period, reaching €65.3 million, supported by individual clientele, higher average prices and the positive impact of the August 2025 opening of Pâtisserie Cédric Grolet at the Hôtel de Paris.

The rental segment gained 4%, to €39.6 million, thanks to new spaces being leased at the Café de Paris, a low vacancy rate and rent indexation.

Over the first nine months of the fiscal year, group revenue totaled €722.2 million, up 13% from the €638.6 million recorded a year earlier.

“These strong results exceed our expectations. They confirm the effectiveness of our strategic choices across all our business areas (…), and are fully in line with the targets set for the current fiscal year,” said Stéphane Valeri, Deputy Chairman of Monte-Carlo SBM.

Regarding outlook, the group noted that “gaming activity is dependent, over the short term, on its inherent volatility” and that “this uncertainty makes it impossible to provide forecasts for the full 2025/2026 fiscal year.”

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