Silver Heritage Casino
Australia-listed Silver Heritage Group has secured a loan of US$1m that will be used for working capital purposes of the company.
Silver Heritage owns and operates the casino property Tiger Palace Resort Bhairahawa (pictured) on Nepal’s border with India. The group also manages gaming at the Millionaire’s Club and Casino, in Kathmandu, the capital of Nepal. The company suspended its casino operations in Nepal on March 23 and its hotel operations the following day. Silver Heritage Group casinos and gambling guide has information like: A Silver Heritage Group casino list, poker tournament listing, information on slots, pari-mutuel (greyhounds & horses), Texas Hold'em, and more. Find owner contact information and view photos of every casino owned by Silver Heritage Group.
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.
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 Casino
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 Buffet
Source: Asia Gaming Brief
