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.

The company opened VIP gaming rooms at the Tiger Palace in March and said feedback from visitors had been “overwhelmingly positive.”

“The company also continues to see stronger performance also at its operations in Kathmandu, with increasing contributions from Chinese players in addition to the usual Indian players,” it said in a trading update for the quarter.

Silver Heritage didn’t provide exact figures, but bar charts showed the drop at Tiger Palace at roughly double the prior-year period for each month of the quarter, with March approaching 300 million rupees.

GGR in US dollars was ahead sharply in both Jan and March, but dipped in February. The March GGR figure topped $700,000.

GGR at The Millionaire’s Club and Casino in Kathmandu was also significantly higher.

The company said it is continuing to work on its 2018 accounts after the discovery of irregularities, which were disclosed in March.

Silver Heritage has been undergoing a strategic review and recently appointed Union Gaming to potentially help locate strategic partners, or buyers for its Nepal operations.