A few hours ago, it was announced that Kathmandu, the capital of Nepal, will have its new casino. The venue will be operated by Hong Kong-listed gaming provider Silver Heritage Ltd. What is more, it will open its doors for visitors some time in the first quarter of 2015. The Shangri-La Hotel and Resort will be home to the new gambling facility.
Silver Heritage announced that the name of the new casino will be Millionaire’s Club and Casino and described it as a boutique venue. In addition, it will be operated under the new gaming regulations that were introduced in Nepal. The company also stated that it will offer 22 gaming tables and 40 slot machines to its visitors.
Silver Heritage also shared that the casino will be primarily intended for Indian and Chinese players, as well as for the “the growing expatriate community living in Nepal.”
The casino at the Shangri-La was previously operated by Malaysia-listed company Star Management. Yet, it was shuttered back in 2011, due to labor strikes.
As for the new Millionaire’s Club and Casino, it will be the result from the collaboration between Silver Heritage and a local company.
Local gaming and tourism authorities stated that Silver Heritage has met all requirements needed and the company’s proposal to operate a casino in the capital will be forwarded for one final approval. The Hong Kong-based gaming provider has been showing interest in investing in Nepal for more than three years.
Mike Bolsover, chief executive officer at Silver Heritage, stated that their new project will probably prove to be successful, considering Nepal’s location. As already mentioned, the new casino is expected to attract visitors from India and China.
Reportedly, Silver Heritage is planning to invest a total of NPR1 billion or US$10.03 million in the new project.
Tim Shepherd, COO at Silver Heritage, commented on the new venue as an opportunity for Nepali authorities to succeed in their plan to encourage inbound tourism with people coming from India and China. What is more, Mr. Shepherd pointed out that the company aspires to develop a chain of top-class accommodation and entertainment facilities across the country. Silver Heritage is ready to invest over US$100 million in this ambitious project that aims at enhancing local economy.
The Hong Kong-based company also announced its intention to build a hotel and conference venue in Bhairahawa. The city is known to be probably the most preferred border among tourists from India.
The five-star venue will be called Tiger Palace and will offer 300 rooms to its guests. What is more, it will also feature conference facilities, luxurious restaurants, and different entertainment options. A casino facility may also be launched at some point in the future.
The construction process has already started and the hotel and conference resort is expected to open doors for guests and visitors in 2016. Silver Heritage stated that it plans to launch at least two more venues in Nepal before 2019.
