Silver Heritage Group Ltd says it now has the documentation needed to lodge an application to launch casino operations at Tiger Palace Resort Bhairahawa after its hotel was awarded a 5-Star Hotel Rating by the Ministry of Culture, Tourism and Civil Aviation of Nepal.
Silver Heritage will lodge the application immediately, which will request that its existing licensed casino management company, SHL Management Services Private Ltd (SHMK), be approved to operate the Tiger Palace casino.
SHMK currently operates the Millionaire’s Club casino at the Shangri-La Hotel in Kathmandu. Under Nepal’s casino regulations it is able to operate casinos in different 5-Star hotels in the country.
Silver Heritage, which launched its hotel in September, said it is ready to commence gaming operations at Tiger Palace as soon as the application is processed.
The company also announced that its wholly-owned subsidiary, Tiger One Pvt Ltd, has signed a supplementary agreement with its Nepalese banking syndicate extending its Demand Loan facility from a maximum NPR150 million (US$1.5 million) to NPR280 million (US$2.8 million).
