The Société des Bains de Mer (SBM; English: Society of Sea Baths), officially the Société Anonyme des Bains de Mer et du Cercle des Etrangers à Monaco (French: ; English: Society of Sea Baths and of the Circle of Foreigners in Monaco), is a publicly traded company registered in the Principality of Monaco. SBM owns and manages the Monte Carlo Casino, the Opéra de Monte-Carlo, and the Hôtel de Paris in Monte Carlo. SBM was founded on 2 April 1863 by a sovereign order issued by Charles III, Prince of Monaco. He ceded for 1.7 million gold francs to the businessman François Blanc for the privilege of exploiting the monopoly on gambling in the Principality of Monaco for 50 years. It initially consisted of a capital of eight million francs divided into 32,000 shares. More information...
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