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Silver Heritage revenue rising as Nepal casino launch nears

Tuesday, 31 October 2017 16:31
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Australian-listed Silver Heritage Group Ltd reported total sales revenue of US$4.76 million for the three months to 30 September 2017, described by the company as the “strongest operating quarter since its Initial Public Offering in August 2016.”

3Q17 outperformed the US$4.09 million in sales in the second quarter and US$3.97 million in the first quarter, with Adjusted EBITDA growing 46.2% sequentially to US$956,000.

For the nine months to 30 September 2017, total sales revenue stands at US$12.82 million and Adjusted EBITDA at US$2.14 million, while gross profit for the period is up 20% year-on-year.

In a filing to the Australian Securities Exchange, Silver Heritage also said that its new Tiger Palace Resort Bhairahawa in Nepal, which conducted a soft opening of its hotel operations on 20 September, remains on time and under budget to open its casino by 30 November.

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