Hong Kong-headquartered integrated resort operator Silver Heritage Group opened last week a casino at its Nepal-based Tiger Palace Resort after receiving the necessary regulatory approval.
In a filing to the Australian Stock Exchange, where it is listed, Silver Heritage revealed on December 28, 2017 that it has been granted the necessary casino license from Nepal’s Ministry of Culture, Tourism, and Civil Aviation. This made it possible for the company to eventually launch casino operations at its resort.
Tiger Palace Resort hosted its soft opening in September 2017. However, the property opened doors without a casino as it still needed the necessary approval from local authorities. The gaming portion of the multi-purpose complex was expected to be launched in late November, but a license was yet to be issued at the time, which further delayed the facility’s opening. Following the launch of the casino, Tiger Palace Resort hosted its first big event as part of the New Year’s Eve festivities.
In its filing to ASX, Silver Heritage pointed out that as part of the licensing process, it had to pay a license fee of NPR20 million as well as a NPR30 casino royalty fee.
More about Tiger Palace Resort
As mentioned above, Silver Heritage soft-opened its resort back in September. It is important to note that the hotel portion of the property was launched back then, with the boutique casino and hotel operator still awaiting authorization to run gambling services in Nepal.
Silver Heritage spent over $50 million on its integrated resort. Aside from a hotel, the hospitality portion of the resort also features a spa, a swimming pool, and a gym, among other wellness facilities.
With the casino now being operational, Tiger Palace Resort features a 100-room five-star hotel and a gaming area occupying over 26,600 square feet. The casino offers players around 50 gaming tables and 200 slot machines. It is also important to note that it has a dedicated area for high roller customers.
Located in Nepal’s Rupandehi District, near the country’s border with India, Tiger Palace Resort is hoped to attract Indian players. Silver Heritage has also pointed out that its new property will also likely draw patrons from Mainland China. Chinese players are a highly valued customer groups at casinos around the Asia-Pacific region (and not only) due to their tendency to spend big on table games. Silver Heritage has previously pointed out that China is actually a market that is yet to be tapped and the company hopes that it will be able to capitalize from the potential Chinese customers create for the development of the casino gambling industry in the region.
Aside from Tiger Palace Resort, Silver Heritage Group also operates The Millionaire’s Club & Casino in Kathmandu, Nepal. The property features more than 20 table games and over 35 slot machines and was actually the first gaming facility to be launched in the country’s following the introduction of Nepal’s overhauled casino laws back in 2015.
