Restricted Casinos in Monaco
One of these countries, practicing the ban on gambling for their citizens, is Monaco. This small principality in previous centuries has undergone more than one year of poverty due to the fact that the territory of Menton, which brought the bulk of revenue to the treasury, split from the principality and joined France.
The situation with the treasury was critical until the time when the government and residents did not have a new hope. Prince Albert First attracted two French entrepreneurs as investors and provided them with a rock-free building for the construction of a gambling complex and the right not to pay taxes for 30 years. Show more
The first casino did not bring sufficient profit, as it was cut off from the network of roads in France and managed not in the best way. The problem was solved by Princess Caroline, persuading one German administrator to move to Monaco. He not only renamed the casino and established its management, but also built a new building overlooking the sea shore.
Since then, the financial affairs of Monaco went on the mend. The Principality became a place of pilgrimage for the most distinguished gentlemen and ladies who want to try their luck. Among the clients of the Monte Carlo casino were members of the British royal family, and prominent politicians, and famous figures of art and culture. While the income of Monaco’s citizens began to grow steadily and raise their standard of living, the authorities strictly prohibited them from participating in gambling.
First and foremost, the prince and the government strive to protect their subjects from gambling addiction, which is subject to a part of regulars at the casino of Monte Carlo and other famous gambling centers. The amazing more than a century-old history of gambling houses in this principality remembers players with a very sad fate, which led the rich persons to outright poverty. The activity of gambling establishments in Monaco is aimed at replenishing the treasury, so they attract so many visitors. But playing for the money of citizens of a small state can damage their personal budget and entail the waste of public finances. Therefore, in the struggle for the good of the principality as a whole and of every citizen individually, the princes forbid local residents to visit the Monte Carlo casino. Show less
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