Tiger Palace Resort Bhairahawa

    Tiger Palace Resort Bhairahawa is a intergrated resort located in Nepal.It is situated on a 10-hectare site, and will include rooms, villas, function rooms, F&B outlets and a casino. Phase 1a development, costing $40 million, will include amenities such as a pool, spa, tennis courts, gym, conference hall, meeting rooms, wedding facilities, six F&B outlets and retail, while a casino will feature 52 gaming tables and 200 EGMs.Additional phases are planned.

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    Tiger Palace Resort, Nepal

    Silver Heritage loss widens on Nepal impairment charges

    Australia-listed Silver Heritage Group said its 2019 loss attributable to shareholders widened significantly due to impairment charges on its operations in Nepal.

    SVH Nepal ops sale no longer exclusive

    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 […]
    Tiger Palace Resort, Nepal

    Silver Heritage says Nepal legal action poses no threat

    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.

    No formal court documents regarding encroached land: SVH

    Silver Heritage Group said it has not been formally served any court documents or evidence in relation to allegations that its Tiger Palace Resort in Nepal is encroaching public land.  Last Friday, according to the Kathmandu Post, a court in Nepal reportedly issued a temporary order against Silver Heritage’s local units. Thaneshwor Ghimire, chairman of […]

    Nepal performance ahead of prior year: Silver Heritage

    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 […]
    Tiger Palace Resort, Nepal

    At least four Nepali companies eye Tiger Palace operations

    There are at least four Nepali companies looking to purchase the Tiger Palace Casino Resort in Bhairahawa after casino operator Silver Heritage Group put its Nepal operations up for partnership or sale at the end of April. According to sources, the business deal for the casino resort is worth $33 million, with four top companies […]

    Silver Heritage sees improving revenue in Nepal

    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.

    SVH posts strong revenue growth across properties

    Silver Heritage Group, operator of the Tiger Palace Resort in Nepal posted strong revenue growth across its properties in 18Q2. The company operates the Phoenix International Club in Vietnam, The Millionaire’s Club in  Kathmandu and Tiger Palace Resort in Nepal, the casino of which opened on December 28, 2017. In a trading update released on […]

    Silver Heritage experiences opening hiccups

    Silver Heritage held the gala opening for its Tiger Palace Resort in March, though the IR has run into problems with a former partner and the country’s bureaucratic licensing regime. The two-day long opening gala celebrations included Bollywood and international artists, including Bollywood dance sensations, Natasa Stankovic and Poonam Pandey. Tiger Palace has its eye […]

    Silver Heritage posts 18Q1 loss, GGR ramp up in Nepal

    Australia-listed Silver Heritage Group posted a total adjusted EBITDA loss of US$1.9 million for the first quarter of 2018, according to a 18Q1 trading update from the operator on Monday. Total revenue for the quarter reached US$4.7 million. Despite the loss, Silver Heritage says its Tiger Palace Resort in Nepal has been ramping up over […]

    Silver Heritage engaging with government on licenses

    Silver Heritage Group said it’s engaging with the Nepal government to ensure it has all the requisite permits and licenses for its resorts in the country. The company said it has an excise license at its Tiger Palace IR for the entire hotel and resort, which it owns, operates and manages. It also has an […]

    Silver Heritage confident consultancy termination valid

    Australia-listed Silver Heritage Group said it’s confident that a consultancy agreement with a former partner at its Nepal IR was validly terminated. In a statement to the stock exchange, the company noted that a Nepal court has granted Rajendra Bajgain a temporary stay of the termination pending a substantive hearing. No date has yet been […]

    Tiger Palace celebrates grand opening with two-day event

    Casino operator Silver Heritage Group has announced the grand opening for its Tiger Palace Resort will be taking place on March 16-17, 2018. The two-day long gala celebrations will include Bollywood and international artists. Guests will witness dance performances by famous Ukrainian troops and Thai Dancers along with performances by Bollywood dance sensations, Natasa Stankovic […]

    Silver Heritage reports widened loss on IPO, resort opening expenses

    Australia-listed Silver Heritage Group reported a widened loss for the year ended December 31, 2017, according to a preliminary annual report filed on Thursday. While revenues from ordinary activities increased 8 percent in the year to $18.3 million, its loss widened more than two fold from 2016, reaching $14.4 million, due to IPO expenses, a […]

    SVH terminates consultancy agreement with Nepal partner

    Australia-listed Silver Heritage Group has terminated its consultancy agreement with one of its Nepal partners, Rajenda Bajgain, after he accused the company of illegally hiring foreign workers. Earlier this month, Bajgain told local outlet My Republica that he had been consistently lobbying for the recruitment of only Nepali citizens at the casino, which were rejected […]

    Silver Heritage appoints general managers to Nepal casino

    Silver Heritage Group has announced the appointment of two general managers to its Nepal resort, Tiger Palace Resort Bhairahawa, covering the hotel and casino businesses. Brett Model has been appointed to General Manager – Hotel, effective March 1, 2018, while Kevin Wilcocks has been appointed General Manager – Casino. Wilcocks has been with the company […]

    Silver Heritage posts strongest quarter in 17Q4 since IPO

    Australia-listed Silver Heritage Group recorded its strongest quarterly sales revenue since its IPO in August, in the fourth quarter of 2017. Total unaudited sales revenue was $5.4 million in 17Q4, compared to $4.8 million recorded in 17Q3. The company also noted that its Tiger Palace Resort in Bhairahawa, Nepal held its first major event last […]

    Tiger Palace VIP tables to open in Q4

    Tiger Palace Resort Bhairahawa, operated by Silver Heritage Group, says it expects to commence VIP gaming in the fourth quarter of 2018, according to the latest property update from the group released on Wednesday. The fourth quarter will see a total of eight tables open in its private gaming area, along with the opening of […]

    Silver Heritage rings in New Year with Nepal casino opening

    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. The company announced it had been granted the permit on Dec. 29th in a filing to the Australian Stock Exchange. The hotel portion of the property, […]

    Silver Heritage reports strongest quarter since IPO

    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. The company reported its strongest operating quarter since its initial public offering in August 2016, with sales revenue reaching US$4.8 million in 17Q3. Adjusted EBITDA was US$956,000, an […]

    Tiger Palace takes final steps towards soft opening

    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. “Co-founders Mike Bolsover and Tim Shepherd, together with local partners, members of the development, operations and pre-opening teams, and contractors were officially the first guests […]

    Silver Heritage posts 17H1 widened loss

    Australia-listed Silver Heritage Group posted a widened loss of US$3.5 million for the first half of 2017, compared to US$1.6 million in the prior year period. Silver Heritage said an increase in costs following the group’s IPO in August 2016, together with additional interest an option expenses associated with increasing the group’s borrowings during the […]

    Silver Heritage completes funding exercise for Tiger Palace

    Australian-listed Silver Heritage Group says it has been successful in raising funds needed to complete its Tiger Palace Resort Bhairahawa in Nepal. The company launched an entitlement offer in June – raising A$19 million in total through an Institutional Tranche of A$10.3 million and a Retail Tranche of A$8.7 million. Completion dates for Tiger Palace […]

    Silver Heritage launches entitlement offer for Nepal casino

    In a filing to the Australian Stock Exchange on Friday, Silver Heritage Group Ltd. announced the launch of a fully underwritten accelerated renounceable entitlement offer. The proceeds of the offer, expected to be around US$14.4 million, will be used to “fund completion and construction and fit out of Tiger Palace, to provide working capital, and […]

    Silver Heritage steps closer to bridging financing gap

    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. Mr. Green made the comments during an address at the company’s annual general meeting held this week. In February, the ASX-listed casino operator announced the opening of the resort had […]

    Silver Heritage posts $3.96 mln revenue in 17Q1

    Asian casino operator Silver Heritage Group Ltd has posted first quarter revenue of US$3.96 million, according to the company’s latest filing to the Australian Stock Exchange. Its operations from Phoenix International Club in Bac Ninh, Vietnam generated most of the revenue in the quarter at US$2.4 million. The group, which is also currently developing a […]

    Silver Heritage says talks on capital raising continue

    Australia-listed Silver Heritage Group said talks are continuing with potential investors to raise funding to finalize its integrated resort project in Nepal. In a filing with the Australian Stock Exchange, the group said it expected the process to take about a further three weeks. It requested that its shares remain suspended from trading in the […]

    Silver Heritage appoints new leadership team for Nepal project

    Australia-listed Silver Heritage Group has appointed a new team to manage the development of its delayed integrated resort project in Nepal. In a filing with the Australian Stock Exchange, the company said Hugh Holmes, executive director of special projects has resigned from the board effective March 9 and ceased to be involved in the Tiger […]

    Silver Heritage suspends trading over delays

    ASX-listed Silver Heritage Group Ltd. has been granted a temporary trading suspension of its stocks from February 27, 2017. The company said unexpected delays in the completion of its Nepal resort led to the request, as it requires time to review the impact of the delays. “The board has been conducting a review of the […]

    Silver Heritage’s Nepal resort faces delays

    Silver Heritage Group says the opening of its Tiger Palace Resort Bhairahawa in Nepal will be pushed back as a result of “temporary unexpected delays”. The ASX announcement sent February 1, says a “shortage of liquidity in the Nepal Banking System” and “unanticipated delays in the issuance of approval for Silver Heritage to increase the […]

    Silver Heritage may miss 2016 forecasts

    Australia-listed Silver Heritage Group has advised the market that it may likely fall short of its 2016 total revenue and adjusted EBITDA forecasts that were previously noted in its IPO prospectus. “For the year to date, total revenue has been lower than expected at the Phoenix International Club (PIC) in Vietnam due primarily to additional […]

    February soft opening

    Tiger Palace Resort, Bhairahawa, a beautiful casino resort being constructed in Nepal on the border with India, is due to have its soft opening in February 2017. 430 million people live in India’s capital Delhi and three Indian states that border Nepal; and 15.5 million “middle class” Indians live within a six-hour drive of Tiger […]

    Tiger Palace Bhairahawa soft opening in Feb 2017

    Silver Heritage Group’s Tiger Palace Resort Bhairahawa is set for a soft opening in February 2017. The operator posted a “construction update” to the ASX on Monday, which gave more details into the resort’s features and its current progress. The resort, situated on a 10-hectare site, will include rooms, villas, function rooms, F&B outlets and […]

    Silver Heritage assigns Laos EGM accords to PAL

    Silver Heritage has assigned its revenue sharing agreements to manage electronic gaming machines at Dansavanh Nam Ngum Resort and Casino in Laos to Pan Asia Leaders. Under the accord, Silver Heritage provided electronic gaming machines and services to the resort under a revenue sharing agreement. Pan Asia Leaders agreed to take on those accords for […]
    Nepal Generic

    Hotel boom leads to new casino plans in Nepal

    Nepal is expecting further expansion of its casino industry as five-star hotels spring up across the country ahead of a major tourism initiative next year. 

    Tiger Palace nears opening as Nepal’s casino sector stirs

    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.

    Foreign investors return as Nepal’s economy rebounds

    Nepal’s economy is forecast to grow at the fastest pace in 20 years in 2017, with tourism arrivals also recovering, helping to attract foreign investment into its casino sector. Foreign investors are now moving back into the country and the casino sector. During the Nepal Investment Summit  in March a total of $13.7 billion was pledged in foreign direct investment, with the bulk from China. About $10 million was earmarked for tourism and casinos are reopening.