Monte Carlo Casino

The Monte Carlo Casino is one of the most famous tourist attractions of Monaco. The casino complex is a gambling facility which also includes the Grand Théâtre de Monte Carlo, an opera and ballet house, and the headquarters of the Ballets de Monte Carlo. It is situated in the Monte Carlo quarter, although the citizens of Monaco are forbidden to enter the gaming rooms. It hosts the annual European Poker Tour Grand Final, the most prestigious poker tournament in Europe.

The casino is owned by the Société des Bains de Mer, a private company, in which the government holds a majority interest. This corporation also owns the principal hotels and clubs of the community that serve the tourist trade.

The Circuit de Monaco, the route of the Monaco Grand Prix runs past the casino.

History
In 1854 gambling was legalized by prince Florestan I.

In 1856 the first casino was opened in a villa near the harbour.

Prince Charles the third ordered the construction of a new quarter called Monte Carlo. A new casino was also part of this plan.

The construction of the current building started in 1858. To make the casino more successful a 50-year concession to operate the gaming rooms was granted to a private individual called François Blanc In 1861. In 1863 the new facility was opened.

Since 1898 the concession has been operated by the Société des Bains de Mer.

In 1910 the building was expanded with a theatre

Breaking the bank
In 1873, Joseph Jagger gained the casino great publicity by "breaking the bank at Monte Carlo" by discovering and capitalizing on a bias in one of the casino's roulette wheels. Technically, the bank in this sense was the money held on the table by the croupier. According to an article in The Times in the late 19th century, it was thus possible to break the bank several times. The 1892 song The Man that Broke the Bank at Monte Carlo, made famous by Charles Coburns, was probably inspired by the exploits of Charles Wells, who broke the bank on many occasions on the first two of his three trips.
According to the book Busting Vegas by Ben Mezrich, a team of blackjack players recruited from the Massachusetts Institute of Technology by team-leader Victor Cassius attempted to break the bank at Monte Carlo with the assistance of a team-play-based system.