Charles III of Monaco grants the Monte Carlo casino concession (1854–1857)

Prince Charles III of Monaco, facing financial difficulties, authorized the establishment of a casino at Monte Carlo. In 1854, he recruited Albert Aubert and Napoléon Langlois to develop a plan for a spa and casino modeled on Bad Homburg. A 30-year concession was granted, leading to the opening of the first casino in December 1856, though the enterprise struggled financially and rights were later transferred.

Episodes

Background and detail

Background. The Principality of Monaco required significant cash flow, prompting Prince Charles III and his mother, Princess Caroline, to conceive the idea of erecting a casino. Charles, who succeeded his father Florestan in 1856, sought to develop a gambling complex. The project was designed in the German style, specifically modeled on the Bad Homburg casino, and was situated at the site known as Les Spélugues, which was later renamed Monte Carlo in his honor.

Concession and Development. In 1854, Charles recruited Frenchmen Albert Aubert and Napoléon Langlois to devise a development plan and write a prospectus to attract four million francs. This funding was intended to build a spa, a gambling casino, and English-style villas. Aubert and Langlois were granted a 30-year concession to operate a bathing establishment and gaming tables, marking the formal start of the casino's operational history.

Early Operations. The first casino opened on 14 December 1856 in Villa Bellevu. However, the enterprise proved money-losing, and Aubert and Langlois were unable to raise the necessary capital to sustain it. Consequently, they ceded their rights to Frossard de Lilbonne, who subsequently passed the concession to Pierre Auguste Daval in 1857, highlighting the financial instability of the initial venture.

People involved

Sources

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