Silver Heritage shuts down its two casinos 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 & Casino, Kathmandu.

Many major hotels in Nepal have also announced that they are closing their doors.

SHARE
Previous articleSouth Korean casinos to suspend operations over Covid-19 concerns
Next articleMacau GGR seen down 80 percent in March

Related Articles

Tiger Palace Resort, Nepal

Australia firms’ experience highlights risks of Asia markets

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?

Regulator gives nod to HatchAsia takeover of Silver Heritage

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 Podcast -AGB

Silver Heritage Mike Bolsover on the state of Nepal [Podcast]

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 signs SVH takeover deed

HatchAsia signs SVH takeover deed

HatchAsia has signed and executed a Deed of Company Arrangement to take control of Australia-listed Silver Heritage Group. 
Tiger Palace Nepal

Silver Heritage reportedly lays off Tiger Palace staff

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 […]

HatchAsia offers to take over Silver Heritage

Philippines-based HatchAsia has put forward a proposal to recapitalize Australia-listed Silver Heritage Group, which is currently in administration.

Receivers and managers appointed for Silver Heritage

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 […]

Silver Heritage enters into voluntary administration

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 […]
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.

Silver Heritage Group appoints new director

The Silver Heritage Group has announced the appointment of Darryl Kaplan as a non-executive director of the company with immediate effect.