Silver Heritage Group improves Nepal casino revenues; looks for strategic partners

Hong Kong based and Australian stock exchange listed casino operator Silver Heritage Group has disclosed that business has substantially improved at both its integrated Tiger Palace Resort in Bhairahawa on the India-Nepal border a🎐nd at its Millionaire’s Club Casino at Shangri-La Hotel in Kathmandu.

The company, in to the Australian stock𒈔 exchange, noted that the feedback at the VIP gaming rooms in Tiger Palace have been overwhelmingꦍly positive and that it continues to see good traction from Indian and Chinese players at its Kathmandu casino.

While Silver Heritage did not provide exact figures about its revenues, bar charts shared by it, showed the drop at T🥀iger Palace at roughly double the prior-year period for each month of the quarter, with March approaching 300 million Nepali r🐼upees (approximately US$2.69 million).

The gross gaming revenues generated by🏅 the company in March 2019 was in the range of around US$700,000, which🐟 was almost double of the revenues generated during the same period in 2018.

The company said it is continuing to work on its 2018 accounts after the discovery of irregularitie💙s, which were disclosed in March 2019.

The casino operator has been undergoing some troubles over the past few months, including , multiple resignations from its board of directors, accounting irregularities, dispute with its local Nepalese partner and suspension o💮f trading on the Australian stock exchanꦆge.

To tide over the setbacks, the company has recently appointed boutique investment banking firm Union Gaming as its exclusive advisor 💟to help locate strategic partners, or buyers for its Nepal operations.