Delta Corp Ltd, India’s only listed gaming company, announced last week it has signed a memorandum of understanding to operate a casino in Nepal’s capital Kathmandu. This would mark the firm’s first foray outside India’s gaming market.
The agreement was signed with Everest Hospitality and Hotel Pvt Ltd, “for leasing space at the upcoming five-star Marriott Hotel in Kathmandu, Nepal,” said Delta Corp in a filing to the Bombay Stock Exchange.
Everest Hospitality and Hotel is a subsidiary of Nepal-based hospitality firm MS Group. The 235-room Marriott-branded hotel is scheduled to open next year, in the Naxal area of Kathmandu. Marriot International Inc manages another hotel property in Nepal – developed by the MS Group – that opened earlier this year.
“Delta will initiate steps to obtain a casino licence from the Government of Nepal and the commencement of operations of the casino will be subject to receipt of this licence,” stated the casino firm in its latest filing.
It added: “With this proposed casino in Kathmandu, Delta aims to expand its imprint outside India, in line with its strategy of expanding in the region.”
Delta Corp, controlled by businessman Jaydev Mody, currently operates casinos in the Indian states of Goa and Sikkim.
Nepal is already host to a few casino venues. Boutique Asian casino operator and developer Silver Heritage Group Ltd said last month it had a soft opening – for hotel accommodation-only – of its Tiger Palace Resort Bhairahawa in Nepal. The firm is targeting to open the casino by November 30, 2017.
"The positive underlying contribution from each of our operating segments provides a strong start to the year"
Chief executive of lottery and gaming supplier IGT