In 1638 the Hotel Monaco was a public Ridotto or “Foyer”, a place where Venetians would retire to gamble, hold parties, have fun - all pastimes that perfectly embody the Venetian mercantile spirit.
Open during Carnival, which then lasted six months, the Foyer became famous. It was a place greatly frequented by travelers who were attracted by the international notoriety of the Venetian Carnival. It offered the most intense and diverse theatre season in Europe, parties, extraordinary kinds of entertainment as well as gambling choices without equal. State revenues from gambling were incredibly high.
In 1768, after 130 years of service, the Foyer needed to be renovated and the task was given to the architect Bernardino Maccaruzzi, who modified the internal structure making it more functional.
The most popular games were bassetta, faraone and birbiss (similar to roulette) although perhaps the most popular game of that time was sbaraglino.

Casanova even cited the game as an example of the union between passion and emotional tension. Also known in Persia and China, in ancient Rome it was called tric trac, while in England it was given the name backgammon.
Gambling, squandering of capital, pimp visits, prostitution, liaison between usurpers and noble bank owners, were all regarded as scandalous in the eyes of the public. For this reason, on November 27 1774, the Consiglio dei Dieci announced the closure of the Ridotto.
A spledid era had ended and the building became the seat of a governing magistrate, then a storage area. The last attempt to bring back its old splendor was undertaken by the French but the arrival of the Austrians in the city led to the umpteenth closure. After that it was used for parties during the period of Carnival, which by that time had become much shorter.
In 1936 another thorough restoration took place. There was a plan to put the Venice casino in the building but the Curia opposed the idea and so it hosted the projection room of the Modernissimo cinema.
In 1947 the building underwent its last transformation before housing the Hotel Monaco, becoming the seat of a small theatre which was given the name Ridotto.
The suggestion to use the space of the Foyer for theatre events was proposed by Arturo Buleghin, ex-partisan who, returning from France, carried both in his eyes and heart the lively French theatre culture.
On December 9, 1947 the Soprintendenza gave Buleghin permission to make his dream come true provided the architecture of the Ridotto would not be altered. The work roused much perplexity but continued unhampered because, since the closing of the Teatro Goldoni, Buleghin’s little theatre became the only option for Venice’s theatre-going public.
Although the cinema closed in 1984 for technical and financial problems, the theatre functioned until 1992 under the management of Ferdinando Scarpa.
In the final years Paolo Poli’s company attracted a vast audience passionate about prose who knew that entering that magical place was like opening a window where space and time stopped.
The recent restoration has managed to revive, with a contemporary feel, the idea of the old palazzo. It offers around a hundred rooms decorated in the grand style for those who want to live in the true venitian manner.

(Sources: Alberto Fiorin, Fanti e Denari, Arsenale Editrice)