Silver Heritage secures US$1 million loan

Australia-listed Silver Heritage Group has secured a loan of US$1 million, which will be used for working capital purposes of the company. 

The loan was first announced on December 27, 2019, on the back of record-breaking monthly GGR for the company. 

The loan has a maturity date of December 31, 2021, with an interest rate of 15 percent per annum payable upon maturity. 

Silver Heritage Group noted that the company’s Nepal operations enjoyed a record month in December, generated more than US$1.5 million in total revenues across The Millionaire’s Club and Casino Kathmandu, and Tiger Palace Resort, Bhairahawa. 

The resulting operating EBITDA was more than US$350,000. 

Silver Heritage also made note of Nepal’s “Visit Nepal 2020” campaign, targeting more than two million international visitors to Nepal, and the scheduled opening of the country’s second international airport – located only 10km from Tiger Palace resort.