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Non-Resident Nepalis take charge of ailing Tiger Palace Resort

KATHMANDU, Aug 17: Bhairahawa's renowned five-star resort, the Tiger Palace Resort, facing closure due to multiple factors including the COVID-19 pandemic and operational controversies, has found a new lease of life. The reins of this ailing hotel have been taken up by a group of non-resident Nepalis, marking a significant shift in ownership and direction. ....

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Former Silver Heritage entity seeking clarity over unpaid Nepal casino taxes

Mike Bolsover of Nepal casino operator SHL Management says he is seeking government clarity over reports it owes US$1.1 million in taxes ....

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Nepal, Schema-Root news

Cross-linked news, and information resources about Nepal ....

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Hotel at Nepal's Tiger Palace Resort Bhairahawa open again

Hotel at Nepal’s Tiger Palace Resort Bhairahawa open again
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VIEWS
Its long-term future may be clouded following a recent takeover of its parent company, Australian-listed Silver Heritage Group, by a Philippines conglomerate but Nepal’s Tiger Palace Resort Bhairahawa took a step towards recovery this week as it opened its hotel to guests for the first time since the start of the COVID-19 pandemic.
Shuttered since 23 March 2020, Tiger Palace this week welcomed its first guests in almost a year with CEO Dhananjay Regmi and staff of the Nepal Tourism Board stopping by to celebrate the occasion. Casinos across Nepal remain closed although ....

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New owner for Silver Heritage Group Limited

January 25, 2021
Some eight months after being placed into administration by its main lender and Asian casino operator Silver Heritage Group Limited has now reportedly been officially purchased by Philippines enterprise HatchAsia Incorporated.
According to a report from Inside Asian Gaming, the Sydney-listed firm behind The Millionaire’s Club and Casino inside Nepal’s Shangri La Hotel and Resort was placed under the control of audit specialist KPMG in May after being unable to meet its debt obligations to backer OCP Asia. The source detailed that the company had strayed into the red owing to the delayed December of 2017 launch of its Tiger Palace Resort Bhairahawa venue alongside the loss of the contract to run gambling operations inside Vietnam’s Phoenix International Club, which had accounted for approximately 45% of its revenues. ....

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