Meaning of the word monaco in English

What does monaco mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

monaco

US /ˈmɑː.nə.koʊ/
UK /ˈmɒn.ə.kəʊ/

Noun

a small independent state in Southern Europe, on the Mediterranean coast, known for its casinos and as a tax haven

Example:
We are planning a trip to Monaco next summer.
The Grand Prix of Monaco is a famous Formula 1 race.