The Hotel Association Nepal has reached an accord with workers' unions under which the pay of staff will be cut by about half. Employees will also work turns and if they are not on duty they will not be paid.
Nepal's hotel industry is struggling to stay afloat given the border restrictions due to Covid-19 and is seeking to implement a "no-work, no pay" system for employees.
Mike Bolsover sits down with Asia Gaming Brief executive editor Michael Penn about Nepal's gaming industry, what's in store for Silver Heritage Group, and how Bhairahawa Resort stands in terms of construction and the pandemic impact.
Troubled Australia-listed operator Silver Heritage Group has reportedly laid off about 400 staff at its Tiger Palace Bhairahawa in Nepal, according to
In recent years two companies, Donaco International and Silver Heritage, listed on the Australian Securities Exchange with the high ambition to crack the Asian casino market. However, as the new decade begins, both of these firms face deep crises. To...
Australia-listed Silver Heritage Group said it has initiated cost reduction strategies in order to mitigate the impact of COVID-19, even though its Fe
Australia-listed Silver Heritage Group said its 2019 loss attributable to shareholders widened significantly due to impairment charges on its operations in Nepal.
Australian-listed Silver Heritage Group announced on Monday that its two casinos in Nepal would be temporarily shut down in accordance with government
Due to the lack of business and fears of a coronavirus outbreak, hotels across Nepal have decided to shut down their operations until the situation im
Indian offshore casino operator Deltin Group has launched its first casino outside of India, named Deltin Casino located at The Marriot Hotel at Kathm
Australia-listed Silver Heritage Group has secured a loan of US$1 million, which will be used for working capital purposes of the company. The lo
India-listed casino operator, Delta Corp has announced it has been issued a license for operating a casino in Nepal, with the opening of the casino to
Silver Heritage Group has announced that the buyer of its Nepal operations has missed its September 10 deadline to pay a deposit of $3 million, due to
Silver Heritage Group said there would be a delay to filing its interim results as it has decided not to prepare the accounts on an ongoing concern basis due to the sale of its operations in Nepal.
Silver Heritage said the sale of its operations in Nepal has been delayed, its chief financial officer has resigned and it is facing further legal action in the country over land use.
Australia-listed Silver Heritage said legal action brought against its Nepalese units by a local consumer water group pose no immediate commercial threat or risk to its operations in the country.
Nepal is expecting further expansion of its casino industry as five-star hotels spring up across the country ahead of a major tourism initiative next year.
Silver Heritage said it had received an offer with an enterprise value of $33.9 million to buy its Nepal operations from a local business man.
Silver Heritage Group said it has not been formally served any court documents or evidence in relation to allegations that its Tiger Palace Resort in
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