Since taking over as Chairman of Société des Bains de Mer in January 2023, Stéphane Valeri has consistently worked to expand and diversify the activities of Monaco’s flagship gaming and hospitality group. A strategy now validated by record results presented to shareholders.
Le groupe Monte-Carlo Société des Bains de Mer (S.B.M) enregistre pour l’exercice 2024-2025, clos au 31 mars 2025, un chiffre d’affaires historique de 768 M€, en hausse de 9 %. « Il s’agit du troisième exercice consécutif de croissance, avec des résultats financiers qui dépassent encore ceux, déjà records, de l’année précédente. Cette performance reflète la solidité du modèle de la S.B.M et l’attractivité renforcée de son Resort », se félicite le président Stéphane Valeri.
For the 2024–2025 fiscal year, ending March 31, 2025, Monte-Carlo Société des Bains de Mer (S.B.M) reported a historic revenue of €768 million, up 9%. “This marks the third consecutive year of growth, with financial results surpassing last year’s already record-breaking figures. This performance underscores the strength of S.B.M’s model and the growing appeal of its resort,” said Chairman Stéphane Valeri.
The hotel division – encompassing Hôtel de Paris, L’Hermitage, Monte-Carlo Bay Resort, and Monte-Carlo Beach in the Principality (860 rooms), as well as the Palace des Neiges in Courchevel (52 suites) – achieved a significant milestone with nearly €400 million in revenue (+16%), accounting for 52% of the group’s total revenue.
Food and beverage activities experienced a spectacular 24% increase, surpassing the one-million-guest mark.
The rental sector – managing a portfolio of around 120 properties, including apartments and retail outlets – rose by 11% to nearly €150 million (20% of total revenue).
Despite higher visitor numbers, the gaming sector saw a slight 3% decline, impacted by unfavorable variance and international compliance constraints (28% of total revenue).
The group’s net income exceeded €110 million (+€6.2 million), and operating income reached €74.5 million.
« S.B.M has never been stronger, but it still has room to grow,” declared Stéphane Valeri, Chairman and CEO of S.B.M, highlighting “…the relevance of our strategy, the consistency of our offering, and the excellence of our teams ».
Despite a disrupted context, the international clientele is loyal
The fiscal year was marked by a series of renovations and openings, aiming to strengthen the group’s international positioning. S.B.M is expanding beyond its traditional borders, intensifying its hotel development in Courchevel. In addition to renovating the current building to elevate it to “palace” status at altitude, the program includes three luxury chalets and the creation of an additional 6,000 sqm, featuring a new ski room, a spa, mostly underground parking, and an extension of the main building.
The new complex is set to open in December 2027.
As a prestige destination, Monaco can rely on its loyal “afficionados.” American guests alone account for nearly one-fifth of its revenue, ahead of French visitors, who are on par with those from the Middle East.
