Nepal

 Nepal is slated to get its first integrated resort with the opening of Silver Heritage’s Tiger Palace Bhairahawa scheduled for the end of November.

Australia-listed Silver Heritage Group says it has recorded gross profit if US$5.1 million for the nine months year-to-date, up 20 percent over the same period in FY16.

Delta Corp subsidiary The Deltin Group has signed a Memorandum of Understanding (MoU) with Everest Hospitality and Hotel Pvt Ltd to operate a casino at the Marriott hotel in Naxal, Kathmandu.

Silver Heritage Group’s Tiger Palace Bhairahawa is set for a soft opening by month’s end, with final works on the Nepal resort to be completed over the next ten days.

Australia-listed Silver Heritage Group has secured additional financing in Nepal to the tune of NPR 510 million (US$5 million).

Australian-listed Silver Heritage Group says it has been successful in raising funds needed to complete its Tiger Palace Resort Bhairahawa in Nepal.

Silver Heritage Group has received government approval to raise the equity ceiling of its FDI-approved investing company, which it says will now give it the means to complete and open its resort in Nepal.

In early June, a nondescript three-storey yellow building in a smart area of Lalitpur, south of the Nepalese capital Kathmandu, became the site of one of the biggest crackdowns on illegal gambling in the country.

 

In early June, a nondescript three-storey yellow building in a smart area of Lalitpur, south of the Nepalese capital Kathmandu, became the site of one of the biggest crackdowns on illegal gambling in the country. It was found due to a series of raids cracking down on illegal gambling, which has risen since Nepal introduced new legislation to raise standards in its casinos, with a locals ban now strictly enforced.

 



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Australia-listed Silver Heritage Group on Tuesday said it had completed the institutional component of its fully underwritten accelerated renounceable entitlement offer.

Silver Heritage chairman David Green says the company is close to completing negotiations which would bridge the financing gap for its Nepal-located Tiger Palace resort.

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