Silver Heritage is an experienced regional gaming operator that operates and manages casinos in Nepal and Vietnam.Operating across Asia for more than 13 years, Silver Heritage brings best-in-class gaming operations to emerging gaming markets that are witnessing significant growth in gaming due to rising income levels and liberalization of gaming regulations and rapid growth of outbound Chinese and Indian tourism.
Silver Heritage announced it has reshuffled its board following the completion of a deed of company arrangement. Former CEO Mike Bolsover is no longer a director, while DFNN's Ramon Garcia and Hatch Asia's Kirk Arambulo are among the new members.
Silver Heritage said it plans to issue 53,000,795 ordinary shares at A$0.01 each to fund the retirement of debt.
Silver Heritage shareholders have passed three key resolutions at a special shareholder meeting, including the issue of new shares to Hatch Asia and secured creditors.
The Foreign Investment Review Board (FIRB) of Australia has decided to raise no objection to HatchAsia, a subsidiary of DFNN, taking a 92 percent interest in the Silver Heritage Group.
Mike Bolsover sits down with Asia Gaming Brief executive editor Michael Penn about Nepal's gaming industry, what's in store for Silver Heritage Group, and how Bhairahawa Resort stands in terms of construction and the pandemic impact.
HatchAsia has signed and executed a Deed of Company Arrangement to take control of Australia-listed Silver Heritage Group.
Troubled Australia-listed operator Silver Heritage Group has reportedly laid off about 400 staff at its Tiger Palace Bhairahawa in Nepal, according to a report in The Himalayan Times. The report asserts that management sent mail on September 9 informing the relevant staff members that their two-year contracts had been terminated and that they would not […]
Philippines-based HatchAsia has put forward a proposal to recapitalize Australia-listed Silver Heritage Group, which is currently in administration.
In an announcement to the Australian Securities Exchange on Wednesday, it was announced that John Park and Joseph Hansell of FTI Consulting have been appointed as receivers and managers of Silver Heritage Group Limited. This follows the appointment of Ryan Eagle and Amanda Coneyworth of KPMG as voluntary administrators two days earlier. According to the […]
Australia-listed Silver Heritage Group has announced it has entered into voluntary administration as of Monday 18th May. According to the company’s announcement to the ASX, the board of directors has appointed Ryan Eagle and Amanda Coneyworth of KPMG as administrators of the company. Silver Heritage said it had been exploring options to generate liquidity even […]
Australia-listed Silver Heritage Group said its 2019 loss attributable to shareholders widened significantly due to impairment charges on its operations in Nepal.
Australian-listed Silver Heritage Group announced on Monday that its two casinos in Nepal would be temporarily shut down in accordance with government guidance forbidding gatherings of 25 or more people. The company statement indicated that the casinos “will be closed until further notice.” Silver Heritage operates the Tiger Palace Resort Bhairahawa and The Millionaires’ Club […]
The Silver Heritage Group has announced the appointment of Darryl Kaplan as a non-executive director of the company with immediate effect.
Silver Heritage Group said its Chairman James Spenceley and Non-Executive Director Michael Bassett have resigned from their positions to pursue other interests. In a statement to the Australian Stock Exchange, Silver Heritage said it was currently appointing a new non-executive director to comply with its obligations. Silver Heritage is the operator of the Tiger Palace […]
Silver Heritage Group has announced that the buyer of its Nepal operations has missed its September 10 deadline to pay a deposit of $3 million, due to circumstances outside of both parties. In July, Silver Heritage announced it had received a conditional binding offer from a Nepali businessman to buy its operations in Nepal for […]
Silver Heritage Group said there would be a delay to filing its interim results as it has decided not to prepare the accounts on an ongoing concern basis due to the sale of its operations in Nepal.
Silver Heritage said the sale of its operations in Nepal has been delayed, its chief financial officer has resigned and it is facing further legal action in the country over land use.
Australia-listed Silver Heritage said legal action brought against its Nepalese units by a local consumer water group pose no immediate commercial threat or risk to its operations in the country.
Silver Heritage said it had received an offer with an enterprise value of $33.9 million to buy its Nepal operations from a local business man.
Silver Heritage Group said it’s in talks with its former partner in Vietnam to recover the second tranche of a $5.25 million settlement reached after the termination of its management agreement to operate the Phoenix Club.
Silver Heritage Group’s Tiger Palace Resort Bhairahawa saw its GGR improve by approximately 30 percent year-on-year in May, compared to the prior year period. According to a trading update from Silver Heritage over the weekend, the increase was due mainly to a series of personnel changes and marketing initiatives to drive footfall and revenue at […]
Silver Heritage say business improved substantially in the quarter to end-March at both its Tiger Palace Resort in Bhairahawa and at its operations in Kathmandu.
Silver Heritage Group has announced another change in its leadership, with the appointment of Ben Watiwat as chief financial officer, effective Nov. 5.
Australia-listed Silver Heritage Group has acquired 7.45 hectares of land in East Nepal for US$3.2 million, which it says will be used for its Tiger Palace Resort Jhapa project. According to a filing from SVH on Monday, the group initially announced in July 2016 an agreement to purchase 11.5 hectares of land in Jhapa. An […]
Silver Heritage says it has reached a settlement with its Nepali partner, who has sold his stake in a unit of the company to a new investor.
Nepal is facing another overhaul of its casino legislation, just five years after new rules were put into place, though some consultants say if the country really wants to attract more foreign investment it needs to cut regulatory red tape. The Ministry of Tourism has requested approval from the Council of Ministers for a new […]
Silver Heritage Group has appointed Australian entrepreneur James Spenceley as non-executive chairman and director, effective immediately.
Silver Heritage Group said its board has agreed to halve its cash remuneration and take other initiatives to cut costs to help address expected tight liquidity in the second half as its new IR in Nepal ramps up.
Silver Heritage said Richard Barker, a non-executive director, has resigned in the latest of a series of changes at the top of the Australia-listed operator.
In recent years two companies, Donaco International and Silver Heritage, listed on the Australian Securities Exchange with the high ambition to crack the Asian casino market. However, as the new decade begins, both of these firms face deep crises. To what extent did they fail in the face of common challenges?
Nepal has proposed new regulations to tighten oversight of its casinos, just five years after passing legislation to govern the sector, though some local operators have expressed disappointment at a ban on locals and high fees.