The Société des Bains de Mer took in 1930 the decision to build a set(group) grouping a cinema and a theater.
The plans were established by the architect Bosio and realized mainly by the company Michel Fontana and Square.
The decoration was conceived by Muratore. The theater was inaugurated only in February, 1932.
René Blum then Guiding of the Ballets of Monté-Carlo, after the death of Diaghilev in 1929, sees confiding(entrusting) the direction(management) of the theater.
In 1936 Marcel Sablon and a young assistant H. Astric, replace René Blum and throw(launch) definitively the new room.
The French comedies succeed the English comedies. Prince Louis Il grants(tunes) his high patronage to the new room in 1937.
The Theater of the Fine arts(School of Fine Arts) became Theater Princess Grace in 1981.