Monte Carlo SBM has reported its financial results shrank by 57% during 2008/09.
PhotoSource: Uutela, A Rouelette table from Silja Galaxy, 4 Nov 2008
Most of the problems have been caused by the current global economic downturn, but some of the blame is also being placed on the smoking ban that came into effect in November 2008. According to the company, this can be seen most clearly in the results of the gaming operations. Turnover in casinos is down 19%, although income from the new open-air slot machines at the Cafe de Paris was 2.5 times higher than any of the others.
With hotel receipts also down by 6%, SBM's management is taking action to cut costs. There'll be a delay on hiring seasonal workers, and any jobs lost to natural staff turnover will be rigorously reviewed before the positions are refilled.
But life goes on. Plans to dominate the online gaming sector, establish Buddha Bar, and demolish the Sporting d'Hiver are still on the cards.