- Silver Heritage Casino Nepal Price
- Silver Heritage Casino Nepal Limited
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- Silver Heritage announced its search for partners or buyers early in May. The company runs Tiger Palace Resort Bhairahawa casino resort on the Indo-Nepalese border and a casino in a hotel in Kathmandu. At least four leading Nepali companies had approached Silver Heritage regarding its local operations.
- Asia-focused casino operator Silver Heritage Group is seeking to raise additional funds from shareholders, after experiencing “unexpected delays and cost overruns” in relation to the development of Tiger Palace Resort Bhairahawa in Nepal.
KATHMANDU: Australian-listed operator of Asian casinos Silver Heritage Group has said its search for partners in its operations in Nepal, or outright buyers of its business there, has elicited some inquiries.
Silver Heritage owns and operates two casinos in Nepal – The Millionaire’s Club & Casino at Hotel Shangri La in the capital and the recently opened Tiger Palace casino resort in Bhairahawa. The Hong Kong company controls its Nepalese operations through Silver Heritage Management Services Kathmandu Pvt Ltd.
Silver Heritage told the Australian Securities Exchange on Thursday: “The company has received a number of approaches in relation to this process and will update the market further when and if appropriate.”
Silver Heritage announced its search for partners or buyers early in May.
The company runs Tiger Palace Resort Bhairahawa casino resort on the Indo-Nepalese border and a casino in a hotel in Kathmandu.
At least four leading Nepali companies had approached Silver Heritage regarding its local operations. Among the companies were financial services firm Chaudhary Group, remittance company IME Group and conglomerate Vishal Group Ltd.
“The company’s operations in Nepal continue to perform well in 2019, with year-to-date results well ahead of the prior year’s performance,” Silver Heritage said in its announcement to the exchange.
The 100-room property, which is the first integrated five-star casino resort in South Asia, was developed by the Australian-listed Silver Heritage Group. In the second phase, Silver Heritage plans to offer 400 guest rooms. It was awarded a five-star rating by the Department of Tourism in November 2017.
Tiger Palace is spread over 15 bighas and features two villas, a gym, spa, swimming pool, restaurants and meeting and banquet facilities suitable for weddings. The resort has a 2,471 square-metre casino floor.
The sources said that the company’s share price plunged to the all-time low in Australia and it failed to generate funds which prompted the company to sell its Nepal’s property.
In the past, most of Asia has generally adopted a no-gambling policy and as a result there are very few brick & mortar casinos located in countries like India, Sri Lanka, Mainland China and Bangladesh. After seeing the success of Macau, a number of Asian countries like Singapore, Malaysia and Thailand are looking to relax their gambling laws and invite gambling companies to invest by opening new casinos.
The Silver Heritage Limited (SHL) recently announced that they have opened out a new casino in Kathmandu, Nepal. The new casino will operate under the name of ‘The Millionaire’s Club & Casino’ which is located at the Shangri La Hotel in Lazimpat. The casino will cater to Nepalese gamblers but also expects to attract a number of foreigners who come to Nepal as tourists.
The Millionaire’s Club & Casino meets all of Nepal’s strict gaming regulations and will operate as a boutique casino. The casino has 40 electronic gaming machines and 22 live gaming tables. The casino might add to the number of live tables and gaming machines based on the response it receives during the first 12 months.
Nepal is located between India and China and attracts a lot of tourists from both these countries who come to see ‘the Himalayas’ and enjoy the serenity that Nepal offers. SHL believes that if ‘The Millionaire’s Club & Casino’ is marketed and promoted right, then it can turn into a tourist stopover as casinos are prohibited in India and China.
Silver Heritage Casino Nepal Price
In a statement, SHL CEO Mike Bolsover said
The Company has been looking to invest in the Nepali tourism and recreation industry since 2011 and we are confident the Kathmandu development represents a huge opportunity given its proximity to India and China’s massive and growing middle class and Nepal’s cultural affinity with its Southern neighbour
The casino is opened for business between 6 pm and 2 am and has plans to operate 24/7 in the near future. All casino staff have been extensively trained to provide customers with a world class casino experience. The SHL group plans to invest into Nepal and start construction of a hotel and conference facility in Bhairahawa in the coming months.
Silver Heritage Casino Nepal Limited
The SHL group specializes in gaming investment and focuses on planning, implementing and managing slot machines and electronic table games in Macau, Cambodia, Philippines, Laos and Vietnam. The group also runs gambling operations on cruise ships that sail on international sea routes that have no gambling restrictions.
Silver Heritage Casino Nepal Coin
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