. ▁On ass is ▁moved ▁his ▁headquarters ▁into ▁the ▁Old ▁Sport ing ▁Club ▁on ▁Mon aco ' s ▁Avenue ▁d ' O st ende ▁shortly ▁after ▁taking ▁control ▁of ▁the ▁S B M . ▁The ▁S B M ▁was ▁a ▁significant ▁owner ▁of ▁property ▁in ▁Mon aco , ▁its ▁assets ▁included ▁the ▁Monte ▁Carlo ▁Cas ino , ▁the ▁Mon aco ▁Y acht ▁Club , ▁the ▁H ôtel ▁de ▁Paris ▁and ▁a ▁third ▁of ▁the ▁country ' s ▁a cre age . ▁On ass is ' ▁take over ▁of ▁the ▁S B M ▁was ▁initially ▁wel com ed ▁by ▁Mon aco ' s ▁r uler , ▁Prince ▁Rain ier ▁III ▁as ▁the ▁country ▁required ▁invest ment , ▁but ▁On ass is ▁and ▁Rain ier ' s ▁relationship ▁had ▁d eter ior ated ▁by ▁ 1 9 6 2 ▁in ▁the ▁w ake ▁of ▁the ▁boy c ott ▁of ▁Mon aco ▁by ▁the ▁French ▁President , ▁Charles ▁de ▁Ga ulle . ▁ ▁On ass is ▁and ▁Rain ier ▁had ▁differ ing ▁vis ions ▁for ▁Mon aco . ▁On ass is ▁wished ▁the ▁country ▁to ▁remain ▁a ▁resort ▁for ▁an ▁exclusive ▁client ele , ▁but ▁Rain ier ▁wished ▁to ▁build ▁hot els ▁and ▁attract ▁a ▁greater ▁number ▁of ▁tour ists . ▁Mon aco ▁had ▁become ▁less ▁attract ive ▁as ▁a ▁tax ▁haven ▁in ▁the ▁w ake ▁of ▁France ' s ▁actions , ▁and ▁Rain ier ▁ur ged ▁On ass is ▁to ▁invest ▁in ▁the ▁construction ▁of ▁hot els . ▁On ass is ▁was ▁rel uct ant