Monaco casino operator Société des Bains de Mer posted a hefty increase in net income for the year ended March 31 on an 18 percent jump in revenues driven largely by growth on the gaming side.
Profit surged to €26.1 million (US$29.3 million), up from €2.6 million in the previous financial year, as revenues rose from €526.5 million to €619.8 million ($695.7 million).
Gaming win was up 7.7 percent to €239.8 million ($268.8 million) on strong growth from machine gaming.
It was a good year as well for SBM on the hotel side, where revenue increased from €253.7 million to €284.3 million ($318.7 million).
Revenue from rents climbed from €51.9 million to €96 million ($107.6 million).
The increases were achieved despite the fact that the financial year was shortened by the closure of the company’s four casinos and hotels in mid-March in response to the coronavirus pandemic.
