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Nepal – Tiger Palace has best quarter since IPO in August 2016

By - 31 January 2018

Nepal operator Silver Heritage Group said revenues at its Tiger Palace Resort in Bhairahawa ‘surpassed the previous quarter in producing the strongest quarterly sales revenue since the company’s Initial Public Offering in August 2016.’

Total unaudited sales revenue for the fourth quarter of 2017 came in at US$5.44m, up from US$4.76m for the third quarter, US$4.09 m in the second quarter and US$3.97m in the first quarter.

Tiger Palace Resort Bhairahawa, Nepal Tiger Palace Resort Bhairahawa hotel operations on 20 September 2017 and commenced gaming operations on 28 December 2017, the same day the casino license was issued. The first major event this year was held on Friday, 26 January 2018, the India Republic Day holiday. The casino had visitation of over 660 patrons and over 120 guests stayed at the hotel that night. Participation in the event was ahead of management’s expectations, with the casino receiving over 50 per cent more customers than the New Years Eve event. The company plans to hold the Tiger Palace Grand Opening celebration event on 16 March 2018 at Tiger Palace.

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