Monaco: SBM looking to accelerate restructuring plan
Tuesday 06 de October 2020 / 04:13
2 minutos de lectura
(Monaco).- The health crisis linked to the Covid-19 epidemic and the economic shock caused by the latter are forcing the Société des Bains de Mer to accelerate the implementation of a global restructuring plan, particularly in social matters.

Faced with a very worrying economic situation, and as announced at the last General Meeting of Shareholders, the SBM Group must negotiate, from the next few days, what it says are ‘difficult and structuring measures to reduce the constraints it bears in terms of additional costs of operation, in addition to the measures already put in place in recent months.’
This restructuring work is made particularly necessary due to a chronic deficit in its hotel and restaurant operations and in its casino activity, linked in particular to a level of salary costs that is inadequate with the level of turnover generated.
The restructuring plan envisaged by the SBM Group is based on three guiding principles: a voluntary departure plan, open to all Group employees over the age of 57, on the essential condition of non-replacement, a collective departure plan targeted at certain departments for reasons of overstaffing or reorganisation aimed at restoring competitiveness, the renegotiation of certain collective agreements or practices in force within the SBM Group.
The group stated: “As indicated above, these measures complement the actions already undertaken, and aim to generate an annual reduction in operating costs of around €25m. The SBM Group must return to a level of profitability allowing it to ensure the investments necessary for its sustainability, and only the success of this plan will make it possible to avoid more drastic measures in terms of reduction of costs or staff.”
Categoría:Casino
Tags: Sin tags
País: Monaco
Event
SBC Summit Americas 2025
13 de May 2025
ProntoPaga impacts SBC Summit Americas with technology that redefines payments in Latin America
(Fort Lauderdale).- In just three years, ProntoPaga went from being a promising post-pandemic idea to becoming a benchmark in the Latin American digital payments ecosystem. With exponential growth of 700% year-over-year, the company has transformed the way payments operate in dynamic industries such as iGaming, sports betting, and the Fintech world.
Friday 23 May 2025 / 12:00
GMW Revolutionizes SBC Summit Americas: Innovation, Gamification, and Player Protection
(Fort Lauderdale, SoloAzar Exclusive).- At SBC Summit Americas, GMW reaffirms its commitment to strategic innovation, combining performance, adaptability, and compliance. Marga Fernández, Head of iGaming Business Development, highlights how the company integrates gamification and player protection to generate unique and sustainable experiences. Discover how these trends are redefining the future of gaming in emerging markets.
Friday 23 May 2025 / 12:00
Uplatform Glowed at SBC Summit Americas 2025
(Cyprus).- Uplatform brought serious sparkle and substance to SBC Summit Americas 2025 in Fort Lauderdale, lighting up Stand C470 with a dynamic mix of business and fun from May 13–15.
Thursday 22 May 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.