Australian-listed Silver Heritage Group is the latest gaming company to be impacted by COVID-19 after announcing on Monday the temporary closure of its two Nepal casinos, Tiger Palace Resort Bhairahawa and The Millionaires Club and Casino Kathmandu.
The closures follow an official circular from the Home Ministry of the Government of Nepal outlining a series of restrictions to curb the spread of the virus, including prohibiting public gatherings of more than 25 people.
Both casinos will be closed with immediate effect until further notice, Silver Heritage said, as will the hotel at Tiger Palace Resort due to a ban on international travel to and from Nepal.
The closure comes as a huge blow to Silver Heritage, which only recently announced a short-term US$1 million loan from shareholders to fulfil working capital purposes of the company for the next six months.
As previously reported by Inside Asian Gaming, Silver Heritage has also been actively looking for either a buyer of its Nepal assets or other forms of funding following the loss of one of its primary sources of revenue, Phoenix International Club in Vietnam, last May.
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