Louis II, Prince of Monaco
On 26 June 1922, Prince Albert I died in Paris. Louis Grimaldi ascended to the throne as Louis II, Prince of Monaco. While his reign never achieved the grandeur of his father, Louis II left an indelible imprint on the tiny principality. In 1924 the Monaco Football Club was formed and in 1929, the first Grand Prix of Monaco automobile race was held, won by Charles Grover (aka "Williams") driving a Bugatti painted in what would become the famous British racing green color. He collected artefacts belonging to Napoleon I which are now assembled and displayed in the Napoleon Museum attached to the Royal Palace in Monte Carlo.
Monaco
The plan for casino gambling was drafted during the reign of Florestan I in 1846. Under Louis-Philippe's petite-bourgeois regime, however, a dignitary such as the Prince of Monaco was not allowed to operate a gambling house. All this changed in the dissolute Second French Empire under Napoleon III. The House of Grimaldi was in dire need of money. The towns of Menton and Roquebrune, which had been the main sources of income for the Grimaldi family for centuries, were now accustomed to a much improved standard of living and lenient taxation thanks to Sardinian intervention and clamored for financial and political concession, even for separation. The Grimaldi family hoped the newly legal industry would help alleviate the difficulties they faced, above all the crushing debt the family had incurred, but Monaco's first casino would not be ready to operate until after Charles III assumed the throne in 1856.