Silver Heritage working with Nepal government on licenses

Hong Kong-based Silver Heritage Group Ltd (ASX:SVH), which operates and manages, through wholly or majority-owned subsidiaries, Asian casinos and gaming assets in Vietnam, Nepal and Laos, reportedly said that it is working with the Nepal government to ensure that it has obtained all of the required licenses and permits for the operation of its resorts in the South Asia country.

Asia Gaming Brief reports that the Australian-listed company said that it is in possession of two excise licenses, one for the entire resort and hotel at its Tiger Palace integrated resort (IR) located just south of the Nepal-India border and the other for The Millionaires Club and Casino in Kathmandu, where only the casino is managed by the company.

Chief Executive Office for Silver Heritage Group Mike Bolsover reportedly said in an email, “We are engaging the government to make sure that we have all requisite permits and licenses in place. Although it is not immediately clear, we may need to add a 3rd such excise license, and if so, we shall add the license,” according to the news agency.

Bolsover’s comments reportedly followed local newspaper reports that over the weekend, what is the company’s first luxury casino resort, Tiger Palace Resort Bhairahawa, was raided by the Inland Revenue due to reports the casino was selling alcoholic beverages sans a license.

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