G&L International Roadtrip to Monaco

from Gaming & Leisure Magazine

Fall 2014, Las Vegas

www.gamingandleisuremagazine.com

A Note From the Editor:  Bill has been G&L’s International Contributor since the beginning.  We sincerely appreciate his hard work and contributions.  Personally, I live vicariously through his travels.  When he submitted this article, he mentioned that his last six weeks had

Gaming and Leisure Magazine
Fall 2014

been harrowing and busy.  I thought I’d share his story with everyone.  Recently, Bill was on a Malaysia Air flight from Kuala Lumpur to Beijing (the same flight that went missing earlier this year).  As he was approaching Beijing around midnight, his flight was put into a holding pattern for an hour.  Finally they were then told to turn around and fly two hours to Shanghai.  After three hours on the ground in Shanghai, they took off again for Beijing and again suffered an hour-long hold near Beijing.  Finally, they were told to return once again to Shanghai.  To summarize, on the MAS flight to Beijing, they landed twice in Shanghai and finally arrived in Beijing thirty-six hours later.  It turned out to be all weather-related but the experience had to be nightmarish to say the least.  I remember the days of travel.  It sounds exciting to most people – but when I hear stories like this, I’m glad the only traveling I do is to my cabin on the weekends.  So, Bill, Keep the articles coming, but most of all, stay safe!

G&L International Road Trip to Monaco

Found amongst the exclusive, secluded shores of the French Riviera is the Principality of Monaco, recognized by many as the international capital of fashion and luxury.  The upscale casino enclave of Monte Carlo is found within Monaco’s secluded bays and elegant boutiques along the Mediterranean shore.

Offering a low tax rate and a luxurious waterfront, it’s not surprising to find that this city-state has the highest percentage of millionaires of any city worldwide.  The Principality is marketed by businesses as a tax haven and an investment destination, luring wealthy foreigners to relocate.  According to a Wealthinsight report in June 2014, nearly one in three people in Monaco is a millionaire.

Operating since the mid-1800s, the Casino of Monte Carlo is one of the top draws in the Principality, offering both casino gaming and high-end entertainment.  The facility includes the famed casino, the Grand Théâtre de Monte Carlo, and the office of Les Ballets de Monte Carlo.  Although today gambling has been a minor contributor to the local economy, there was one point in time when it was the primary source of income for the House of Grimaldi and the Monaco economy. 

Though the present-day Casino of Monte Carlo is operated by the Société des bains de mer de Monaco (Monte-Carlo SBM), the ruling family still maintains a majority interest.  Through the 100+ years that Monte-Carlo SBM has been managing the gambling casino, the size of its employee roles has swelled to more than 3000, making it one of the top employers in Monaco.

Early desires to develop a casino in this seaside town began 160 years ago, with Princess Caroline, the shrewd, business-minded wife of Prince Florestan I.  She had proposed the venture as a means to save the House of Grimaldi from bankruptcy.  The intent had been to design the casino gaming industry to appeal to wealthy tourists who were seeking luxury and elegance away from home. 

In 1854 Florestan's son Charles began work on developing a prospectus to build a facility that would have a wellness spa, English-styled villas and a gambling casino modeled on Germany’s Bad Homburg casino.   

To reach the goal of attracting 4 million francs, Charles recruited a team from France —writer Albert Aubert and industrialist Napoleon Langlois.  Having been granted the concession to operate a bathing establishment and gaming tables for 30 years, Aubert and Langlois moved quickly and opened the first casino in 1856 in Villa Bellevu. 

Developing a spa & casino in 1850s Monaco had its share of logistical challenges, as roads between Monaco to Nice and the rest of Europe didn’t exist.  Furthermore, comfortable lodging wasn’t available, and the concessionaires’ failed to promote the new resort.  This resulted in fewer customers, and lower revenues than expected.  Unable to raise the capital needed to continue on, the property changed hands several times.

In 1859 the property began to make a profit, but still faced its share of difficulties as it didn’t meet the grandiose scale envisioned by Princess Caroline.  Frustrated by the apparent incompetence of the casino’s management, Carolie dispatched her secretary to Germany in an effort to recruit François Blanc, the successful French operator of the famed Bad Homburg casino.  Though he initially declined the offer, he finally did accept after a long period of persuasion.  It is said that Princess Caroline even called on Madame Blanc, suggesting that Monaco’s mild climate would be better for her ill health.

In 1863, François Blanc finally agreed to take the reigns of Monaco’s casino business.  With seed capital of 15 million francs, the “Societe des Bains de Mer et du Cercle des Etrangers” was created.  As part of his incentive to relocate to Monaco, Blanc became the single majority stockholder in the company and received a 50-year concession (lasting until 1913).

Well connected in the industry, Blanc called on his connections within the industry and quickly began a massive construction project.  He also insisted on renaming Monaco’s Spelugues area to Monte Carlo, chosen to honor Prince Charles.  It was felt the name would be more attractive to casino visitors.

Though early attempts to establish the company combining casino gaming and wellness in Monaco had failed, Blanc’s arrival had reversed the trend.  Despite the many difficulties he inherited, Blanc was able to create a viable and profitable endeavor based initially on operating a casino and in ensuring years, the opening of luxury hotels, restaurants and entertainment venues. 

With gaming prohibited throughout Europe at the time, the Casino of Monte Carlo quickly attracted a wealthy, cosmopolitan members of society, who were drawn by the Principality’s flamboyance, luxury, and the magic of chance gaming.

Since its opening in 1863, the Casino of Monte Carlo has continued to expand and upgrade, but still maintained its Napoleonic era, Belle Époque décor.  With the success and continued growth, the Casino sought fashionable architects such as Dutrou, Schmit, Garnier, Trouzet, etc. to contribute to the long-standing sophistication of the site.

To this day, the Casino of Monte Carlo maintains its image of fashion, flamboyance and luxury, drawing the wealthy and famous from around the world.

All photos are courtesy of the Monaco Press Centre Photos