LGBT rights in Monaco respect certain LGBT rights protections, but Monaco and its people have a strong cultural and economic relationship with France. The LGBT community in Monaco does support some gay-friendly establishments within Monaco itself. There are no official gay places to be found in Monaco, as there are in the nearby French cities of Marseille, Nice and Lyon. In June 2017, Pauline Ducruet, the eldest daughter of Princess Stéphanie of Monaco and granddaughter of Rainier III, Prince of Monaco and American actress Grace Kelly, marched in the New York Pride parade, expressing support for LGBT rights. LGBT rights in Monaco Lesbian, gay,
Rainier III, Prince of Monaco Onassis, who took control of the Société des Bains de Mer (SBM) and envisioned Monaco as solely a gambling resort. Prince Rainier regained control of SBM in 1964, effectively ensuring that his vision of Monaco would be implemented. In addition, the Societé Monégasque de Banques et de Métaux Précieux, a bank which held a significant amount of Monaco's capital, was bankrupted by its investments in a media company in 1955, leading to the resignation of Monaco's cabinet. As Prince of Monaco, Rainier was also responsible for the principality's new constitution in 1962 which significantly reduced the power of the sovereign.