The Australian company has confirmed it has laid off 400 members of staff in Nepal.<\/p>\n\n\n\n\n\n\n\n
Nepal.- The Australian casino operator Silver Heritage Group has announced the layoff of 400 members of its staff at its Nepal casino, Tiger Palace Bhairahawa.<\/p>\n\n\n\n
According to a report in The Himalayan Times, the company sent an email to the employees on September 9 informing them that their two-year contracts had been terminated and that they would not be reappointed. <\/p>\n\n\n\n
The company attributed the decision to the difficult financial situation provoked by the Covid-19 pandemic.<\/p>\n\n\n\n
Workers staged a protest in front of the casino, to demand reinstatement. They argue that the firm is violating Nepal’s Labour Act.<\/p>\n\n\n\n
Silver Heritage entered into receivership on May 18. Last month, Philippines-based HatchAsia put forward a proposal to take over the company and inject AU$530 million (US$387 million) in cash.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Australian company has confirmed it has laid off 400 members of staff in Nepal.<\/p>\n","protected":false},"author":2,"featured_media":10087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Australian casino operator Silver Heritage Group, currently in receivership, has terminated 400 staff contracts at its Tiger Palace Bhairahawa property in Nepal, citing COVID-19-induced financial distress. This action has prompted worker protests alleging violations of Nepal's Labour Act, occurring amidst a proposed AU$530 million takeover bid by Philippines-based HatchAsia.","focusai_entities":"Silver Heritage Group, HatchAsia","focusai_location":"Nepal, Australia, Philippines, Bhairahawa","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Labour Act Compliance","query":"What are the specific provisions of Nepal's Labour Act that Silver Heritage Group is alleged to have violated, and what are the potential legal and financial ramifications for the company and its proposed acquirer, HatchAsia?"},{"label":"HatchAsia Takeover Impact","query":"How might the ongoing labor dispute and the receivership status of Silver Heritage Group influence HatchAsia's proposed AU$530 million takeover, particularly regarding due diligence, valuation, and post-acquisition operational liabilities?"}],"footnotes":""},"categories":[160,28,161,16338],"tags":[29,5763],"class_list":["post-10085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-east-asia-news","tag-casino","tag-nepal"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10085"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10085\/revisions"}],"predecessor-version":[{"id":10089,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10085\/revisions\/10089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10087"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}