The first casino at Monaco opened in 1856 on a different site. The Hôtel de Paris Monte-Carlo opening in 1864 and the current Casino de Monte-Carlo in July 1865, with additions in 1878-79 and 1880-81.

The first Grand Prix du Casino was in 1872, won by Mr. George Lorillard, of New York.

It appears likely that a new clubhouse and the platform for the new ring was built in the late 1890s.

The ring at the Casino was in continuous use until 1960, when it was converted to a Helice (ZZ) ring. The ring was demolished in 1972.
The straight-away boundary was only 21 yards.

Serious money was involved, not counting the side bets. The Grand Prix du Casino of 1895 was $76,000 which would be > $2,500,000 today
https://digital.la84.org/digital/collection/p17103coll17/id/54930/rec/1

The ring was a platform built below the Grand Casino

[Linked Image from photos.smugmug.com]

[Linked Image from photos.smugmug.com]

and the pigeons were kept beneath the ring. An 1894 magazine illustration.

[Linked Image from photos.smugmug.com]