Monte Carlo Casino: The only casino where billionaires are allowed to unlimited gamble
Updated: Aug 15
General Info 📚
Opening date: 1863; 156 years ago
Architect: Charles Garnier
Casino type: Land-Based
Entrance fee: €17
The idea of opening a gambling casino in Monaco belongs to Princess Caroline, a shrewd, business-minded spouse of Prince Florestan I. Revenues from the proposed venture were supposed to save the House of Grimaldi from bankruptcy.
The ruling family's persistent financial problems became especially acute after the loss of tax revenue from two breakaway towns, Menton and Roquebrune, which declared independence from Monaco in 1848 and refused to pay taxes on olive oil and fruit imposed by the Grimaldis.
In the late 1850s, Monaco was an unlikely place for a resort to succeed. The lack of roads needed to connect Monaco to Nice and the rest of Europe, and the absence of comfortable accommodations for visitors, as well as the concessionaires' failure to publicize the new resort, resulted in far fewer customers than was originally anticipated.
Unable to raise the capital needed to operate the money-losing enterprise, Aubert and Langlois ceded their rights to Frossard de Lilbonne, who in turn passed it to Pierre Auguste Daval in 1857.
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A bit about the Country
Monaco is about 15 km (9.3 mi) from the state border with Italy.
Monaco has an area of 2.020 km2 (0.780 sq mi), making it the second-smallest country in the world after the Vatican.
Its population as of 2018 is 38,682. With 19,009 inhabitants per square kilometre (49,230/sq mi), it is the most densely populated sovereign state in the world.
Monaco has a land border of 5.47 km (3.40 mi), the world's shortest coastline of approximately 3.83 km (2.38 mi), and a width that varies between 1,700 and 349 m (5,577 and 1,145 ft).
The highest point in the country is a narrow pathway named Chemin des Révoires on the slopes of Mont Agel, in the Les Révoires Ward, which is 161 metres (528 feet) above sea level.
Monaco's most populous Quartier is Monte Carlo and the most populous Ward is Larvotto/Bas Moulins. Through land reclamation, Monaco's land mass has expanded by 20 per cent. In 2005, it had an area of only 1.974 km2 (0.762 sq mi). Monaco is known to be the most expensive and the wealthiest place in the world due to its tax laws.
In 2014, it was noted that about 30% of the population was made up of millionaires.
In the main casino hall, the minimum you can bet is €5 and the maximum is €2000. If you take your gaming to a private room, the minimum increases to €10 and, unsurprisingly, there is no cap on maximum bets.
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