free encyclopedia jump to navigation search soci t des bains de mer et du cercle des trangers monaco type soci t anonyme de droit mon gasque traded as euronext bain industry leisure founded 1863 1 founder charles iii fran ois blanc marie blanc headquarters monte carlo monaco area served france monaco and united arab emirates key people jean luc biamonti chairmen and ceo yves toytot cfo 2 owners government of monaco 69.1 % qatari diar 6.39 % number of employees 4 436 3 website montecarloresort.com the soci t des bains de mer pronounced s sjete d b d m officially the soci t des bains de mer et du cercle des trangers monaco pronounced s sjete d b d m du se le de et ge m nako abbreviated sbm ; euronext bain is a publicly traded company registered in the principality of monaco . 4 5 sbm manages and owns the monte carlo casino the op ra de monte carlo and the hotel de paris in monte carlo . 6 contents 1 history 2 business 3 references 4 external links history edit zaharoff after the first world war the casino in monte carlo was in trouble . the world had changed particularly the world of money and the prince of monaco louis ii believed the casino s aged owner camille blanc had lost touch . as the casino supplied the principality with revenue he sought to replace blanc and bring in fresh business management . for assistance he approached sir basil zaharoff the international financier and arms dealer who had long been a patron of the c te d azur . zaharoff managed to get hold of the shares and with the aid of the prince shouldered blanc out and became the casino s master . zaharoff brought in fresh administration and the result paid huge dividends . 7 onassis in 1953 the greek shipping magnate aristotle onassis bought up the shares of sbm via the use of front companies in the tax haven of panama and took control of the organisation moving his headquarters into the old sporting club on monaco s avenue d ostende shortly after . 8 onassis s takeover of the sbm was initially welcomed by monaco s ruler prince rainier iii as the country required investment 9 but onassis and rainier s relationship had deteriorated by 1962 in the wake of the boycott of monaco by the french president charles de gaulle . 10 onassis and rainier had differing visions for monaco . onassis wished the country to remain a resort for an exclusive clientele but rainier wished to build hotels and attract greater number of tourists . 11 monaco had become less attractive as a tax haven in the wake of france s actions and rainier urged onassis to invest in the construction of hotels . 12 onassis was reluctant to invest in hotels without a guarantee from rainier that no other competing hotel development would be permitted but promised to build two hotels and an apartment block . unwilling to give onassis his guarantee rainier used his veto to cancel the entire hotel project and publicly attacked sbm for their bad faith on television implicitly criticising onassis . rainier and onassis remained at odds over the direction of the company for several years and in june 1966 rainier approved a plan to create 600 000 new shares in sbm to be permanently held by the state 13 which reducing onassis s stake from 52 % to under a third . 14 in the supreme court of monaco the share creation was challenged by onassis who claimed that it was unconstitutional but the court found against him in march 1967 . following the ruling onassis sold his holdings in sbm to the state of monaco for 9.5 million 270 million as of 2015 15 and left the country . 16 business edit the soci t des bains de mer operates in the accommodation dining entertainment and gambling services . 17 sbm manages and owns casinos hotels restaurants bars night clubs spas beach clubs and golf clubs . fifty two of their fifty eight properties are located in monaco . 18 sbm opened its first non european establishment on saadiyat island abu dhabi united arab emirates in september 2011 . 19 20 sbm is monaco s largest employer . 21 references edit history . montecarlosbm.com . retrieved 2012 06 16 . company profile company profile . euronext . retrieved 2012 06 16 . the soci t des bains de mer monaco monte carlo 5 casinos 4 hotels 33 restaurants thermes marins spa etc. . monte carlo sbm . retrieved 2012 06 16 . bain.pa summary for bains mer monac n yahoo finance . finance.yahoo.com . retrieved 2012 06 16 . societe des bains de mer epa bain quotes & news google finance . google.com . 2012 05 31 . retrieved 2012 06 16 . societe des bains de mer bmrmf otc us stock quote & company profile businessweek . investing.businessweek.com . 2012 02 10 . retrieved 2012 06 16 . john flynn men of wealth the story of twelve significant fortunes from the renaissance to the present day 337 372 evans 1987 p. 113 . evans 1987 p. 114 . evans 1987 p. 199 . obituary prince rainier iii of monaco . the times london 7 april 2005 pg . 58 . nuzum thomas . monte carlo has a good feud but glamor is gone the chicago tribune chicago december 5 1965 section 1b pg . 1 link http archives.chicagotribune.com 1965 12 05 page 33 article monte carlo has a good feud but glamor is gone mr. onassis in monaco law battle . the times london 22 august 1966 pg . 6 . evans 1987 p. 204 . federal reserve bank of minneapolis community development project . consumer price index estimate 1800 . federal reserve bank of minneapolis . retrieved november 10 2015 . evans 1987 p. 206 . dimitri de andolenko . soci t des bains de mer monte carlo . cleverhotel.org . retrieved 2012 06 16 . 4 and 5 hotels in monaco luxury casinos restaurants spas . monte carlo sbm . retrieved 2012 06 16 . http www.montecarloresort.com ecrire upload mcbc saadiyat factsheet.pdf monte carlo beach club saadiyat opening imminent . business traveller . retrieved 2012 06 16 . monaco business . monaco iq . retrieved 2012 06 16 . evans peter 1987 . ari the life times and women of aristotle onassis . london penguin . isbn 978 0 14 009961 4 . monte carlo beach club saadiyat external links edit official website official website saadiyat nyse euronext sbm at 4 trader v t e hotels in monaco hotel forum columbus hotel monaco h tel de paris monte carlo hotel novotel monte carlo hotel metropole monte carlo monte carlo grand hotel h tel hermitage monte carlo monte carlo beach le m ridien beach plaza fairmont monte carlo ambassador monaco le quai des princes riviera marriott hotel la porte de monaco monte carlo bay hotel & resort adagio city aparthotel monaco palais jos phine les jardins d elisa adagio city aparthotel monaco monte cristo hotel de monaco les terrasses d eze vista palace h tel hotel miramar hotel regency retrieved from https en.wikipedia.org w index.php title soci t des bains de mer de monaco & oldid 734718278 categories 1863 establishments in monacocompanies established in 1863companies of monacohotel and leisure companieshidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged 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