Asian casino operator Silver Heritage Group Limited is reportedly holding talks with the government of Nepal over whether it will still be required to hand over approximately $1.08 million in royalties attached to its local gambling licenses. According to a report from GGRAsia, the Hong Kong-headquartered firm is responsible for the gambling-friendly Tiger Palace Resort Bhairahawa development in the south of the small nation as well as The Millionaire’s Club and Casino within Kathmandu’s five-star Shangri La Hotel and Resort. […]

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Some eight months after being placed into administration by its main lender and Asian casino operator Silver Heritage Group Limited has now reportedly been officially purchased by Philippines enterprise HatchAsia Incorporated. According to a report from Inside Asian Gaming, the Sydney-listed firm behind The Millionaire’s Club and Casino inside Nepal’s Shangri La Hotel and Resort was placed under the control of audit specialist KPMG in May after being unable to meet its debt obligations to backer OCP Asia. The source […]

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In Nepal and some 400 workers at the gambling-friendly Tiger Palace Resort Bhairahawa have reportedly had their employment terminated owing to the ongoing financial woes of the facility’s owner, Silver Heritage Group Limited. According to a report from Inside Asian Gaming citing an earlier story from The Kathmandu Post newspaper, the five-star venue became the scene of protests last week after the Sydney-listed operator sent out an e-mail detailing that it would not be renewing any of its local staffing […]

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Asian casino operator, Silver Heritage Group Limited, has reportedly announced that it has been served with a second interim injunction in Nepal relating to a plan that is to see it sell off its Tiger Palace Resort Bhairahawa venue for approximately $33.9 million. According to a report, the Sydney-listed firm used an official filing to proclaim that the ‘second, new interim ex-parte injunction’ was issued against an unnamed pair of its Nepalese subsidiaries by the Rupandehi District Court and that […]

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Silver Heritage Group Limited, located in the tiny Asian nation of Nepal, has reportedly opened talks with at least four parties said to be interested in buying its Tiger Palace Resort Bhairahawa venue. Share setback: According to a Wednesday report, the Sydney-listed firm only fully opened the 23.5-acre property at the beginning of last year but is now investigating a possible sale after its share price fell to an all-time low on the back of lower-than-expected revenues. Potential suitors: Silver […]

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Asian casino operator, Silver Heritage Group Limited, has announced that it is to receive some $5.25 million in compensation after agreeing a deal linked to the recent closure of its gaming operation inside northern Vietnam’s Phoenix International Club. Casino closure: The Sydney-listed firm used an official Tuesday filing (pdf) to detail that it had been responsible for a casino inside the property near Hanoi but was forced to shutter this operation earlier in the month due to a failure on […]

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Asian casino operator Silver Heritage Group Limited has announced that it has hired Ben Watiwat to serve as its next Chief Financial Officer following the decision from predecessor Basil Jong to stand down ‘by mutual agreement with the board’ after a little over a year in the role. Global track record: According to an official Friday filing (pdf) from the Sydney-listed firm, Watiwat previously served as Company Secretary and Head of Finance for Australian venture-backed software innovator SafetyCulture where he […]

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Only a week after announcing that it had secured a parcel of land for the purposes of building its third casino in Nepal and Silver Heritage Group Limited has now reportedly been granted a temporary suspension to the trading of its stock on the Australian Securities Exchange. Firm focused on ‘capital raising’: According to a report from GGRAsia, this is the second time in the last 19 months that Silver Heritage Group Limited has been granted such a halt and […]

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After fully opening its Tiger Palace Resort Bhairahawa venue in January, Silver Heritage Group Limited has now announced a deal that has seen it secure an 18.4-acre parcel of land for the purposes of building another boutique casino in Nepal. New venue to focus on Indian clientele: According to a Monday report from GGRAsia citing an earlier filing from Silver Heritage Group Limited (pdf), the new development is due to be called Tiger Palace Resort Jhapa and will be located […]

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In Nepal, casino operator Silver Heritage Group Limited, has reportedly settled a dispute with a pair of former investors after an entity known as, Tiger Kathmandu Investment Private Limited, purchased a 10% stake in its SHL Management Services Private Limited subsidiary. According to a Tuesday report from GGRAsia, Sydney-listed, Silver Heritage Group Limited, holds a 90% stake in SHL Management Services Private Limited, which runs its recently-opened Tiger Palace Resort Bhairahawa integrated casino resort as well as The Millionaire’s Club […]

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