Monday, August 08, 2022

At least four Nepali companies eye Tiger Palace operations


There are at least four Nepali companies looking to purchase the Tiger Palace Casino Resort in Bhairahawa after casino operator Silver Heritage Group put its Nepal operations up for partnership or sale at the end of April.

According to sources, the business deal for the casino resort is worth $33 million, with four top companies including the Chaudhary Group, IME Group, Vishal Group and a Nepali non-resident based in Malaysia with their eyes on the prize.

Silver Heritage opened the Tiger Palace resort in Bhairahawa in late December 2017, betting on high demand from tourists from India.

In March this year, SVH opened up to VIP gaming with three new rooms catering to high rollers.

A senior official from the Chaudhary Group told the Kathmandu Post that there is “nothing concrete” but confirmed there are initial talks ongoing at the moment. IME group chairman Chandra Dhakal said much the same.

Silver Heritage has been undergoing a strategic review and recently appointed Union Gaming to potentially help locate strategic partners or buyers for its Nepal operations.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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