Online Casino, casinos

The principality of Monaco's casinos haven't been spared by the economic crisis which has hit almost all sectors particularly that of gaming. The Societe des Bains de Mer (SBM) are in the same situation as all gaming establishments whether in Las Vegas. Macau or Europe. In relation to the recession, all casinos are in the same boat and all are trying to find solutions to this impasse. The Societe des Bains de Mer (SBM) saw its gross product from gaming collapse by 19% and the application of the anti-tobacco law didn't help the situation and greatly contributed to encouraging players not to visit one of the group's five casinos. In fact, cigarettes are an important factor for players who associate the pleasure of gaming with that of smoking and many players have deserted the gaming rooms or spend less time in them because of this law.

However the SBM was smiling last year and published excellent growth figures in the last three quarters. We wrote an article on this subject on the 20th June 2008 expressing the good financial health of the SBM, “Monaco's casinos in good financial health”. Since then a lot of things have changed and the situation is the opposite. The law against smoking in public places was passed and the economic crisis began. Without forgetting the increase in online gaming which attracts players by its many advantages particularly the ease and rapidity of access to a gaming site, the possibility of smoking at the screen, no need to travel (and so saving petrol, editor's note) etc. The Societe des Bains de Mer has acquired 50% of Stephane Courbit's  company, specialising in online gaming (Betclic, Expekt) and this injection of fresh capital has enabled the group to be placed in the top 4 of online gaming groups notably in the area of sport betting.

The world of online gaming is an area that particularly interests the actual casinos who see the future of gaming in this sector. Therefore, the SBM has associated itself with Mangas Capital and many other telephone operators have done the same with other important participants in the online gaming market either in poker or sport betting. Despite the crisis, the SBM doesn't intend resting on its laurels and is going to inject no less than 35 million euros into various projects: reconstruction of the Sporting d'Hiver on Place du Casino or the reconstruction of the Balmoral. Lets wait and see how the financial downturn will progress in 2009 which had a bad start in this first semester.

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