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Article: The man who minds the bank in Monte Carlo Despite being the playground of the international jet set, the Casino and its hotels have been losing money. Michel Novatin told Damian Reece how he is getting them back in the black
- Article from:
- The Sunday Telegraph London
- Article date:
- March 4, 2001
- Author:
CopyrightCopyright 2001 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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Monte Carlo is the sort of fantasy land where fact and fiction
merge in a hazy Mediterranean dreamland.
A fact in Monte Carlo is the Hollywood star who marries the
ruling prince but dies in a car crash and whose daughter runs off
with an elephant trainer. A Monte Carlo fiction is the British
secret agent in a tuxedo who races red Ferraris along the Grand
Corniche and cleans up at baccarat.
Not much to choose between the two. But if you were told that the
luxurious gaming and leisure assets of Monte Carlo, including the
world famous Casino and the Hotel Hermitage, were losing money and
were well in the red you might think a film producer was trying to
stretch credibility a little bit too far.