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Silver Heritage reports record patronage at Tiger Palace Resort in Nepal

Wednesday, 31 January 2018 07:01
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Australian-listed Silver Heritage Group says its new Nepal integrated resort, Tiger Palace Resort Bhairahawa, enjoyed its busiest day yet last Friday with more than 660 patrons filling the casino and over 120 guests staying overnight in the hotel. The solid visitation numbers coincided with the India National Day holiday and were “ahead of management’s expectations,” the company said in a filing to the Australian Securities Exchange early this morning.

Tiger Palace launched casino operations on 28 December 2017 and held its first major public event on New Year’s Eve. Last week’s India National Day holiday saw 50% more customers on site than on New Year’s Eve according to the filing.

Silver Heritage also reported unaudited sales revenue of US$5.44 million for the three months to 31 December 2017, up from US$4.76 million in 3Q17, US$4.09 million in 2Q17 and US$3.97 million in 1Q17. The figure represents the company’s highest quarterly result since its August 2016 initial public offering.

Aside from the newly opened Tiger Palace, Silver Heritage operates gaming operations at The Millionaire’s Club & Casino in Kathmandu and Phoenix International Club in Vietnam.

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