Tag Archives: Nepal
Nepal – Silver Heritage Director resigns following resort delays
Silver Heritage Group, the operator of casinos in Vietnam and Nepal, has confirmed that Hugh Holmes has resigned from his position of Executive Director for special projects at Silver Heritage. Mr. Holmes has ‘ceased involvement in the development of the company’s $40m Nepal resort project, Tiger Palace Resort Bhairahawa,’ according to a statement made to…
Nepal – Silver Heritage sees revenues fall by 29 per cent
Silver Heritage, an operator of casinos in Nepal and Vietnam, has reported GGR of US$32.13m, down 29 per cent on 2015, although Total Revenue of US$16.91m was down two per cent. At the Phoenix International Club situated just outside of Hanoi in Bac Ninh, Vietnam, visitation numbers were up more than 40 per cent year…
Nepal – New doubt over Tiger Palace opening date
Silver Heritage Group has been granted an immediate suspension of its stock by the Australian Securities Exchange. The company’s $40m Tiger Palace Resort in Nepal has stalled due to ‘a shortage of liquidity in the Nepal banking system.’ The 26,597 sq ft casino was due to open in October 2016 with 200 slots and 52…
Nepal – Tiger Palace to open March 1
Silver Heritage Group has said it will open the Tiger Palace Resort Casino in Nepal at the start of March. The Australia-listed casino operator had planned to hold a soft opening in February but said it was ‘encountering temporary unexpected delays’ to the opening citing a ‘shortage of liquidity in Nepal’s banking system.’ The new…
Nepal – Tiger Palace to open in Nepal in February next year
Silver Heritage has confirmed that Tiger Palace Resort, Bhairahawa, will open in Nepal, close to the border in India in February 2017. In a construction update, the operator said that Mechanical, Electrical, and Plumbing works were 90 per cent complete and that an interior fit out was 65 per cent complete. nternal brickwork and roofing…
Nepal – Silver Heritage to open Tiger Palace in 2017
Silver Heritage is currently developing its first casino resort along the Nepali border, aimed at serving one of the largest untapped gaming markets in the world; India. A spokesperson said: “Our first Tiger Palace Resort is scheduled to open in early 2017, and will provide customers with access to a 2,471m2 casino floor along with…
India – Silver Heritage to reopen Shangri-La as Millionaire’s Club
The Nepalese government is poised to approve Hong Kong-based Silver Heritage Limited to operate a casino at the Shangri-La Hotel & Resort in the capital of Kathmandu. Silver Heritage, who will operate the property alongside a Nepal-based company, will invest over NPR1bn (US$10m) in rebranding the Shangri-La casino as the Millionaire’s Club and Casino. It…
Nepal – Nepal closes down all casinos
Having finally lost patience with its gaming sector, the Nepal government has now made all ten casinos illegal ordering them to close immediately after failing to heed several warnings to pay licensing and royalty fees. According to the Ministry of Culture, Tourism and Civil Aviation, the Nepalese government is owed a total of US$10m. It…
India – Nepal casinos warned over tax for the last time
The Nepal government has extended the deadline for casinos to pay missing royalties of Rs 657.66m for a fifth time, insisting that those casinos who do not comply will be shut down. The extension follows a letter from the Casino Association of Nepal who said casinos were keen to operate legally and that the issue should…
