Thursday, September 24, 2020

Tag: Nepal

Silver Heritage net loss rises due to Tiger Palace impairment charge

Silver Heritage Group financial results
ASX-listed Silver Heritage Group reported its full-year net loss attributable to shareholders rose by 215.4 percent from the prior year, mainly due to an impairment charge to with the company’s Nepal operations.

Silver Heritage goes courting as Nepal rewards investment

Silver Heritage Nepal
Silver Heritage has taken advantage of positive Nepalese Q119 performance to scout for “potential strategic partners or purchasers” for its two venues in

Silver Heritage set to continue Nepalese investment

Nepal Silver heritage investment
Silver Heritage Group has announced it will continue its investment in Nepal’s hospitality and gambling industry, with new resorts designed to target..

Nepal’s Tiger Palace Resort seeing significant visitation from India and China

Nepal, Tiger Palace Resort, India, China
Brett Model, general manager of Tiger Palace Resort in Nepal reports that the property - operated by Australian- listed Silver Heritage - received visits from more than 100,000 Indian nationals last year, while the venue expects a further boost to footfall once the international terminal at Bhairahawa Airport opens in H2 2019. Speaking to Casino Review, he confirms that...

Nepal: Government moves to close tax loophole

nepal, tax, loop
The Nepalese government is looking at introducing new legislation that would empower it to confiscate the personal property of any casino operators which failed to pay their taxes. The measure forms part of the government’s new regulatory framework for casinos, which forms part of the Federal Tourism Bill, and will include a provision allowing officials to seize assets both within...

Silver Heritage settles with ex-Nepal casino partner

Tiger Palace
Australia-listed casino operator and developer Silver Heritage Group has settled a legal dispute with its former partner in the Tiger Palace Resort in Bhairahawa, Nepal. The company told the Australian Securities Exchange that a former consultant to the $52m project, Rajendra Bajgain, and his brother, Nabaraj Bajgain, had sold their shares in SHL Management Services (KTM), a subsidiary which operates...

Silver Heritage’s Tiger Palace to open in March, second Nepal IR on the cards

Casino Review - Nepal Silver Heritage
Tiger Palace Resort Bhairahawa is finally set to open its doors in March, but opinions remain divided over how lucrative Nepal’s India-facing market will be. Australian-listed Silver Heritage has announced that the hotel, gaming and hospitality facilities at Tiger Palace Resort Bhairahawa will become fully operational in March, while the property’s VIP rooms will launch in Q4 2018. In a regulatory...

Silver Heritage looks to open gaming floor in five-star Tiger Palace

silver heritage tiger palace
Nepal casino operator Silver Heritage is getting ever closer to opening the gaming floor at its Tiger Palace Resort Bhairahawa.   The Ministry of Culture, Tourism, and Civil Aviationof Nepal (MOCTCA) awarded the hotel at the resort the five-star rating necessary for the company to lodge the application required for its existing licensed casino management company, SHL Management Services (KTM) Private...

Silver Heritage pushes ahead with Tiger Palace opening

silver heritage tiger palace
  Australian-listed casino operator Silver Heritage Group held a soft opening for the hotel portion of its Tiger Palace Resort Bhairahawa in Nepal, with the casino opening set to follow in roughly six weeks.   “The development of Tiger Palace continues ahead of schedule and within the revised budgeted cost of $51.8m, and the first paying hotel guests are booked in for...

Silver Heritage raises Nepal casino budget and revamps project leadership

Casino Review - Nepal Silver Heritage
Asian casino operator and developer Silver Heritage Group has increased the budget on its Tiger Palace Resort Bhairahawa resort, situated on the country’s border with India, by a third.   It has also pushed back the completion timetable for the project - originally scheduled for a February soft opening - to later in 2017, and has initiated a capital raising exercise. While...

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