The geographical heart of Monaco is a grassy roundabout called Place du Casino. It is surrounded on three sides by the Café de Paris, the famous casino here in the middle, and the Hôtel de Paris. It is often decorated in tribute of some major event, like these colorful flags for the Rolex Masters ATP World Tennis Tour. In addition, each year a huge grandstand is built here to watch the famous Grand Prix de Monaco Formula One race on the Circuit de Monaco.