• 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

Silver Heritage says 2Q revenue likely US$4mln

Jul 31, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Silver Heritage says 2Q revenue likely US$4mln

Australia-listed gaming operator Silver Heritage Group Ltd estimates it generated second-quarter revenue of nearly US$4.09 million, according to a business update filed on Friday. That compares to US$3.97 million in the first quarter of 2017. But the filing to the Australian Securities Exchange did not provide a comparison with group performance in the equivalent quarter a year earlier.

Silver Heritage, a boutique operator of Asian casinos, said it expected quarterly adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the three months to June 30 to be above US$500,000. The firm reported adjusted EBITDA of US$654,000 for the first three months of 2017.

The group runs casinos in Vietnam and Nepal, and is currently creating its first purpose-built, self-managed resort in Nepal.

Friday’s filing gave some other business indicators. The firm said that Phoenix International Club, in Vietnam, had a table hold percentage of 21.3 percent in the second quarter of 2017, versus 19.9 percent in full year 2016; and a second-quarter average daily net win per table of US$4,091 versus US$3,087 in full year 2016.

Phoenix International Club’s win per day per electronic gaming machine in the three months to June 30 was US$170, versus US$129 per day in full-year 2016.

At the Millionaire’s Club and Casino in Nepal’s capital Kathmandu, the company had a second-quarter table hold percentage of 13.6 percent, versus 21.1 percent in full year 2016; and an average daily net win per table of US$719, versus US$913 in full year 2016.

Second-quarter electronic gaming machine win per day from Silver Heritage’s operations at the Kathmandu property was US$41 per unit, compared to US$39 per unit for full year 2016.

Silver Heritage said it remains on target for a phased opening of its Tiger Palace Resort Bhairahawa (pictured), in Nepal, beginning in September. The firm said it will be launching the hotel, villas and hospitality areas in September, followed by the opening of the entire resort, “including main gaming floor and VIP gaming areas”, in November.

The casino operator announced in late June that it was launching a fully underwritten entitlement offer to raise funds to support the completion of Tiger Palace. The company said it raised AUD19.0 million (US$15.2 million) via the offer. Silver Heritage has increased the construction budget for Tiger Palace by US$11.8 million, to US$51.8 million.


  • tweet
Related articles
  • Room for Macau casino industry top-line growth: Citi
    Room for Macau casino industry top-line...

    Dec 04, 2023  

  • GEN Malaysia 3Q profit at US$38mln, revenue up 10pct q-o-q
    GEN Malaysia 3Q profit at US$38mln,...

    Nov 23, 2023  

More news
  • Casino inspector shortage even for 2024 says Macau govt
    Casino inspector shortage even for 2024...

    Dec 11, 2023  

  • Macau 2023 visitor tally likely 28mln: Secretary Lei
    Macau 2023 visitor tally likely 28mln:...

    Dec 11, 2023  


Latest News

Casino inspector shortage even for 2024 says Macau govt

Casino inspector shortage even for 2024 says Macau govt

Dec 11, 2023  

Macau’s casino regulator, the Gaming Inspection and Coordination Bureau, will see certain job roles filled during 2024, but the expected fresh recruitment will not cover all the...
Read More
Macau 2023 visitor tally likely 28mln: Secretary Lei

Macau 2023 visitor tally likely 28mln: Secretary Lei

Dec 11, 2023  

FBM takes Mythic Link to U.S. via deployment in Florida

FBM takes Mythic Link to U.S. via deployment in Florida

Dec 11, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”This new venture [with PH Resorts] is aligned with our strategy to increase our footprint in the Philippines, given our remarkable success with Okada Manila”

Byron Yip

President and COO of the operator of Okada Manila



Most Popular

  • NagaCorp announces death of founder Chen Lip KeongNagaCorp announces death of founder Chen Lip Keong December 11, 2023
  • NagaCorp names 3 sons of founder in CEO rolesNagaCorp names 3 sons of founder in CEO roles April 6, 2022
  • Okada Manila op to invest in stalled Cebu IR Emerald BayOkada Manila op to invest in stalled Cebu IR Emerald Bay December 11, 2023
  • GRA cancels an RWS employee licence, fines op US$1.7mlnGRA cancels an RWS employee licence, fines op US$1.7mln December 11, 2023
  • Macau casino staff hopeful of 2024 pay rise: repsMacau casino staff hopeful of 2024 pay rise: reps December 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us