On the lookout for second Nepal resort site
Boutique casino developer and operator Silver Heritage Group, which officially opened the gaming floor at its Tiger Palace Resort Bhairahawa in Nepal on December 31, will celebrate the grand opening of the property on March 16.
A soft opening of the property’s 100-room hotel—located near the border of Nepal and the Indian state of Uttar Pradesh—was held September 20.
In a filing from to the Australian Securities Exchange, the company said the property’s first “major event” of 2018, India Republic Day on January 26, drew “over 660 patrons and over 120 hotel guests. Participation in the event was ahead of management’s expectations, with the casino receiving over 50 percent more patrons than the New Year’s Eve event.”
The casino opened with 44 gaming tables and 216 electronic gaming machines, according to GGRAsia, citing a previous Silver Heritage statement.
In its filing, Silver Heritage said the fourth quarter of 2017 generated total unaudited sales revenues of US$5.44 million, compared to US$4.76 million in the prior quarter. Silver Heritage called it “the strongest quarterly sales revenue since the company’s initial public offering in August 2016.”
The firm stated it planned to disclose its preliminary audited financial results for full-year 2017 before February 28.
The company, which also runs the Millionaire’s Club and Casino in Kathmandu and the Phoenix International Club near Hanoi, Vietnam, hinted last year that it has identified another site in Nepal for a potential second new resort following the opening of Tiger Palace. The second site would be near Nepal’s border with the Indian states of Bihar and Sikkim, close to India’s contiguous border with Bangladesh.
