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Nepal

Tiger Palace Resort Bhairahawa, operated by Silver Heritage Group, says it expects to commence VIP gaming in the fourth quarter of 2018.

Australia’s Silver Heritage Group said its Tiger Palace resort in Nepal would host its first major event on New Year’s eve after receiving a license to operate a casino.

Nepal’s casino sector appears finally to be poised for expansion, with new properties opening and foreign investors entering the market, drawn by the lure of untapped demand in neighboring India and increased business traffic.

 

Nepal’s casino sector appears finally to be poised for expansion, with new properties opening and foreign investors entering the market, drawn by the lure of untapped demand in neighboring India and increased business traffic. The industry is one of the oldest in Asia, but has been through a transitional period, with new international standard gaming regulations introduced in 2013 and with the country hit by an earthquake and temporary border issues in 2015. However, the picture is brightening and will soon have its first international standard IR.



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 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.

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