Back in April 2014, Nepalese authorities introduced new rules and regulations related to the casino industry and as a result, several casinos, based at the capital of Nepal – Kathmandu, closed doors for players.
However, according to the latest information, the Nepalese gambling industry is to undergo revitalization. Apart from the new venues, established by Silver Heritage Ltd., all casinos, which shut down last year, are to be reopened soon.
A total of ten casinos had to close as they were incapable of clearing the outstanding dues they had to pay to the Nepalese government.
Casino officials are taking imminent actions towards resuming their business and according to reputable local media, one of the casinos, which ceased its operations almost a year ago, has already applied for permission to continue operating and Nepalese officials gave their consent.
The casino in question is Casino Mahjong, located at the Crowne Plaza Kathmandu-Soaltee.
Its managing director, Binod Shrestha, was asked for a comment and said that currently, executives are figuring out any potential issues that may rise but from next week onwards, Casino Mahjong will be fully functional and prepared to accept its first visitors.
As for Casino Royale, based at Hotel Yak and Yeti, it started accepting guests as from February 1st.
The Nepalese Supreme Court allowed the casino to resume its operation and follow the existing rules until the new ones come into force.
Valley Link, the entity, which is in charge of several casinos, including Casino Rad, Casino Tara, Casino Venus, was looking to obtain a new license from Nepalese officials.
The President of Casino Association Nepal, Kishore Silwal, who is also a managing director of Valley Link, announced that the operations will be resumed no later than the end of March.
As for the Millionaire’s Club and Casino, located at Hotel Shangri-La, its executive chairman, Rajendra Bajgain, announced that there were more than 250 people employed. There are 10 gaming machines as well as 22 live gaming tables on the casino floor.
Prime International and Recreation as well as Vegas City International were given a permission to operate casinos but the new regulations, put into effect in 2013, caused them unexpected issues related to the royalty payments.
Under the new regulations, the sum casinos have to pay was increased, not to mention the registration and licensing fees operators are supposed to pay. They keep requesting the paid-up capital to be reduced but government remains reluctant to implement any changes.
