Tag Archives: Silver Heritage
Nepal – Silver Heritage opts for voluntary administration
Australian-floated Silver Heritage Group, the operator of Tiger Palace Resort Bhairahawa in Nepal and The Millionaire’s Club in Kathmandu, has filed for voluntary administration. Having looked at selling some of its assets, it has now appointed KPMG as its administrator. The closures caused by the coronavirus pandemic came just months after the operator was give…
Vietnam – Silver Heritage leaves Vietnam with $5.25m paycheck
Silver Heritage Group has agreed to a ‘generally favourable’ settlement of US$5.25m which it will be paid by the owners of Phoenix International Club, Bac Ninh in Vietnam. The Phoenix was recently forced to close due to what Silver Heritage said were ‘breaches by the owner, primarily the requirement to maintain the gaming license.’ Following…
Vietnam – Vietnam’s Phoenix International Club closes following table ban
Vietnamese-operator Silver Heritage has halted operations at its Phoenix International Club in Bac Ninh pending an ‘announcement regarding its contract and operations’ after being told it was no longer allowed to operate tables. The company received notice from the General Manager of Phoenix that table games are no longer included in its revised investment certificate…
Nepal – Tiger Palace to open three VIP rooms as table drop soars
Nepal casino group Silver Heritage reported a 110 per cent upswing in table drop and 142 per cent increase in visitation at its Tiger Palace in Bhairahawa, in January. This was the first month since opening that it has been able to compare a year-on-year result. January saw table drop of US$2,128,000 compared with US$1,009,000…
Nepal – Silver Heritage buys land for Tiger Palace Resort Jhapa
Silver Heritage has bought a parcel of land in Jhapa, East Nepal for US$3.2m, where it will build Tiger Palace Resort Jhapa. Having built and opened South Asia’s first Integrated Resort, Tiger Palace Resort Bhairahawa, in Nepal close to the border with India’s most populous state, Uttar Pradesh, the company has decided to stick with…
Nepal – Second quarter revenues set new record for Silver Heritage
Nepal casino group Silver Heritage Group has seen its revenues soar in the second quarter of 2018 with Gross GGR of US$11.39m setting a new group record since listing on the ASX in 2016. Non-gaming and casino revenues were flying at its Millionaire’s Club and Casino in Kathmandu and its Tiger Palace Resort Bhairahawa. Group…
Nepal – Silver Heritage appoints new Chairman after ‘challenging’ year
Nepal casino operator Silver Heritage has appointed James Spenceley as its non-executive Chairman following the departure of former Chairman David Green after what it called a ‘challenging year’ for the company. Mr. Spenceley is famed for founding Australia’s fourth largest telecommunications company Vocus Communications in 2007 which he turned into a AU$5bn business. Silver Heritage…
Nepal – Silver Heritage holds grand opening for Tiger Palace
Silver Heritage Group has now held the grand opening of its first 5-star integrated resort – Tiger Palace Resort in Bhairahawa, Nepal. Led by a vision to transform South Asia’s entertainment landscape, the grand opening event was spread over two days, Saturday, 16 March and Sunday, 17 March 2018. Guests witnessed dance performances by Ukrainian…
Nepal – Tiger Palace has best quarter since IPO in August 2016
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,…
