• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Investors nibble at Silver Heritage’s Nepal ops: firm

May 31, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  


Investors nibble at Silver Heritage’s Nepal ops: firm

Australian-listed operator of Asian casinos Silver Heritage Group Ltd says its search for partners in its operations in Nepal, or outright buyers of its business there, has elicited some inquiries.

Silver Heritage told the Australian Securities Exchange on Thursday: “The company has received a number of approaches in relation to this process and will update the market further when and if appropriate.”

Silver Heritage announced its search for partners or buyers early in May.

The company runs Tiger Palace Resort Bhairahawa casino resort (pictured) on the Indo-Nepalese border and a casino in a hotel in Kathmandu.

The Kathmandu Post reported this week that at least four leading Nepali companies had approached Silver Heritage regarding its local operations. Among the companies identified by the media outlet were financial services firm Chaudhary Group, remittance company IME Group and conglomerate Vishal Group Ltd.

“The company’s operations in Nepal continue to perform well in 2019, with year-to-date results well ahead of the prior year’s performance,” Silver Heritage said in its announcement to the exchange.

Silver Heritage also told the exchange it had collected US$200,000 as part of the second instalment of the payment owed by a former partner in Vietnam, and was working on collecting the rest.

The company announced in March that its ex-partner was due to pay it US$5.25 million in compensation arising from the cessation on March 1 of casino operations at the Phoenix International Club near Hanoi after the partner failed to keep the operations licensed.

On doubts about the company being a going concern, Silver Heritage told the exchange: “The directors have reasonable expectations that they will be able to raise additional funding needed for the group to continue to pay its debts as and when they fall due, make principal repayments to its bondholder commencing in March 2020, and execute against its milestones in the medium term”.

Silver Heritage reported that its annual loss attributable to its owners shrank to just over US$11.13 million in 2018, or 22.9 percent less than the year before, on annual revenue that grew by 31.8 percent to nearly US$24.07 million.


  • tweet
Related articles
  • Vietnam’s Hoiana says has several partners to bring biz
    Vietnam’s Hoiana says has several...

    Mar 22, 2023  

  • Let’s Win hosts grand opening for club at Hoiana in Vietnam
    Let’s Win hosts grand opening for...

    Mar 20, 2023  

More news
  • Main-building work at Naga 3 begins mid-2023: NagaCorp
    Main-building work at Naga 3 begins...

    Mar 24, 2023  

  • Macau diversification into non-gaming to remain slow: Fitch
    Macau diversification into non-gaming...

    Mar 24, 2023  


Latest News

Main-building work at Naga 3 begins mid-2023: NagaCorp

Main-building work at Naga 3 begins mid-2023: NagaCorp

Mar 24, 2023  

Piling work for Naga 3, an addition to the NagaWorld gaming complex in Cambodia’s capital Phnom Penh, was at “96 percent completion”, said the promoter’s 2022 annual report, issued on...
Read More
Macau diversification into non-gaming to remain slow: Fitch

Macau diversification into non-gaming to remain slow: Fitch

Mar 24, 2023  

Osaka to up ‘gambling addiction’ centres before IR opens

Osaka to up ‘gambling addiction’ centres before IR

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
  • LVS gets 1-year extension for Marina Bay Sands 2.0 startLVS gets 1-year extension for Marina Bay Sands 2.0 start March 24, 2023
  • Universal Ent affiliate to develop land next to Okada ManilaUniversal Ent affiliate to develop land next to Okada Manila March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us