Australian-listed Silver Heritage Group Limited has reported a 110% increase in table drop and 142% uptick in footfall at its Nepal integrated resort, Tiger Palace, in January – the first month since opening in late December 2017 that it has reported comparative year-on-year results.
In a trading update through 29 January 2019, the company reported table drop of US$2,128,000 compared with US$1,009,000 in January 2018, while footfall increased from 4,361 to 10,584.
“Drop continues to improve with December and January being the second and third highest months respectively since the casino opened on 28 December 2017,” Silver Heritage said.
The company also revealed it plans to open three VIP gaming rooms at Tiger Palace in February to drive additional revenue to the property.
In the same trading update, Silver Heritage revealed that it has amended its agreement with the owner of Phoenix International Club – the Vietnamese casino where it manages gaming operations in order to reduce fixed costs.
The new agreement will see Silver Heritage take a reduced 30% share of GGR but says the overall impact on the group should be positive “driven by this reduction in fixed costs combined with focus on increasing footfall and drop at the property.”
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