Australia-listed Silver Heritage Group has secured a loan of US$1m that will be used for working capital purposes of the company.
The loan was first announced on December 27 on the back of record-breaking monthly GGR for the company. The loan has a maturity date of December 31, 2021, with an interest rate of 15 per cent per annum payable upon maturity. Purpose of tangential slots.
Silver Heritage Group noted that the company's Nepal casino operations enjoyed a record month in December, generating more than US$1.5m in total revenues across The Millionaire's Club and Casino Kathmandu and Tiger Palace Resort, Bhairahawa.
The resulting operating EBITDA was more than US$350,000.
Silver Heritage also made note of Nepal's 'Visit Nepal 2020' campaign, targeting more than two million international visitors to Nepal, and the scheduled opening of the country's second international airport, located only 10km from Tiger Palace Resort.
Silver Heritage Casino Nepal Official
Silver Heritage announced its search for partners or buyers early in May. The company runs Tiger Palace Resort Bhairahawa casino resort on the Indo-Nepalese border and a casino in a hotel in Kathmandu. At least four leading Nepali companies had approached Silver Heritage regarding its local operations. March 23 (reuters) - silver heritage group ltd:. both casinos, at tiger palace resort bhairahawa & millionaires' club & casino, kathmandu,will be closed until further notice. Asian casino operator Silver Heritage Group has increased the budget for its under-construction Tiger Palace Resort Bhairahawa in Nepal by over 34% and begun raising additional funds to cover the escalating costs. Sydney-listed Silver Heritage Group had initially intended to inaugurate the development complete with a 26,597 sq ft casino offering 200 slots and 52 gaming tables in October. Silver Heritage currently manages two casinos in Nepal—the Millionaire's Club at the Shangri-La Hotel in Kathmandu and the Tiger Palace Resort in Bhairahawa. The second property was launched in December 2017. The Tiger Palace Resort was awarded a five-star rating.
Australia-listed Silver Heritage Group has secured a loan of US$1m that will be used for working capital purposes of the company.
The loan was first announced on December 27 on the back of record-breaking monthly GGR for the company. The loan has a maturity date of December 31, 2021, with an interest rate of 15 per cent per annum payable upon maturity. Purpose of tangential slots.
Silver Heritage Group noted that the company's Nepal casino operations enjoyed a record month in December, generating more than US$1.5m in total revenues across The Millionaire's Club and Casino Kathmandu and Tiger Palace Resort, Bhairahawa.
The resulting operating EBITDA was more than US$350,000.
Silver Heritage also made note of Nepal's 'Visit Nepal 2020' campaign, targeting more than two million international visitors to Nepal, and the scheduled opening of the country's second international airport, located only 10km from Tiger Palace Resort.
Silver Heritage Casino Nepal Official
Silver Heritage announced its search for partners or buyers early in May. The company runs Tiger Palace Resort Bhairahawa casino resort on the Indo-Nepalese border and a casino in a hotel in Kathmandu. At least four leading Nepali companies had approached Silver Heritage regarding its local operations. March 23 (reuters) - silver heritage group ltd:. both casinos, at tiger palace resort bhairahawa & millionaires' club & casino, kathmandu,will be closed until further notice. Asian casino operator Silver Heritage Group has increased the budget for its under-construction Tiger Palace Resort Bhairahawa in Nepal by over 34% and begun raising additional funds to cover the escalating costs. Sydney-listed Silver Heritage Group had initially intended to inaugurate the development complete with a 26,597 sq ft casino offering 200 slots and 52 gaming tables in October. Silver Heritage currently manages two casinos in Nepal—the Millionaire's Club at the Shangri-La Hotel in Kathmandu and the Tiger Palace Resort in Bhairahawa. The second property was launched in December 2017. The Tiger Palace Resort was awarded a five-star rating.
Source: Asia Gaming Brief