Monte Carlo
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Categories: Monaco stubs | Europe geography stubs | Monaco
- For information on the mathematical method, see Monte Carlo method.
Monte Carlo is home to most of the Circuit de Monaco, on which takes place the Formula One Monaco Grand Prix; it also hosts world championship boxing bouts, the Monte Carlo Masters, fashion shows and other events.
Monte Carlo has been visited by royalty as well as commoners and movie stars for decades. James Bond, fictional British spy and protagonist of the Bond movie series, frequented the city's glamorous, Edwardian casino. In 1873 Joseph Jagger was first to break 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 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.
Famous for its gambling casino, Monte Carlo is one of Europe's leading tourist resorts. Within the casino complex is the Grand Théâtre de Monte Carlo, an opera and ballet house, and the headquarters of the Ballets de Monte Carlo. In 1861 a 50-year concession to operate the gaming rooms was granted to a private individual. Since 1898 the concession has been operated by the Société des Bains de Mer, a private company, in which the government now holds a majority interest. This corporation also owns the principal hotels and clubs of the community that serve the tourist trade. The citizens of Monaco are exempt from taxes, and they are forbidden to enter the gaming rooms. Population 30,000 (1990 estimate).
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