Nepal's Shangri-La Casino Gets New License

Gambling establishments in Nepal have been seriously affected by regulations that took effect in July 2013. The law required casinos to have at least $250 million in paid-in capital. In addition, they had to pay as much as NPR each year. Gambling operators said taxes would be too high and seriously affect their businesses. Because of this, regulators lowered the royalty amount to 30 million NPR in 2014.

Mr Gautham said while operators are still not particularly happy with the capital requirements and royalties paid, the department does not consider any changes to the current tax rules.

The operator of the Everest Casino, located on the site of the Everest Hotel, also announced an interest in reopening the venue. A gambling house in Salti is also expected to resume operations. Mr. Gautam shared that operators have been asked to apply for licenses under the new casino law.

In April 2014, the Nepalese government declared all gambling houses in Nepal's territory illegal because it refused to apply for a license after paying royalties under the new regulations. It is estimated that more than 3,500 people have been left unemployed due to the shutdown.

It has been announced that the Nepalese government will finally approve Silver Heritage Ltd., a Hong Kong-based game operator, to operate the so-called Shangri-La Casino located within the site of the Shangri-La Hotel & Resort in Kathmandu.

The Ministry of Culture and Tourism and the Ministry of Civil Aviation say Silver Heritage will be issued a license to operate the gambling center within the next two weeks. Operators work in collaboration with local companies.

A few days ago, regulators gave special pre-approval that Silver Heritage should prepare for a casino relaunch.

Tulasi Gautam, director of Nepal's tourism ministry, pointed out that a committee has been appointed to prepare a special manual that will explain how operators need to operate their venues. Silver Heritage will be issued a license when the manual is ready.

Currently, regulators are also discussing the implementation of new casino regulations.

Not long ago, Hong Kong-based Silver Heritage submitted a proposal to the Ministry of Tourism, which said it plans to invest more than 1 billion NPR in the Kathmandu project. The operator runs many casinos in Vietnam, India, and the Asia-Pacific region. 경마사이트

Shangri-La Casino was previously operated by star management, a Malaysian company. However, the venue was closed due to labor unrest.