Silver Heritage Group said the cash had been raised for working capital purposes.<\/p>\n\n\n\n\n\n\n\n
Australia: Australia-listed Silver Heritage Group has secured a loan of US$1 million to be used for working capital purposes, the company has revealed in a statement to the press.\u00a0<\/p>\n\n\n\n
Silver Heritage Group said its Nepal operations enjoyed a record month in December 2019, generating more than US$1.5 million in total revenues across The Millionaire\u2019s Club, Casino Kathmandu and Tiger Palace Resort, Bhairahawa. Operating EBITDA was more than US$350,000.\u00a0 <\/p>\n\n\n\n
The loan was first announced on December 27 2019 on the back of record-breaking monthly GGR for the company. It has a maturity date of December 31 2021, with an interest rate of 15 percent per annum payable upon maturity.\u00a0<\/p>\n\n\n\n
Silver Heritage also highlighted Nepal\u2019s \u201cVisit Nepal 2020\u201d campaign, targeting more than two million international visitors to to the country and the scheduled opening of the country\u2019s second international airport \u2013 located only 10km from Tiger Palace resort.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Silver Heritage Group said the cash had been raised for working capital purposes.<\/p>\n","protected":false},"author":2,"featured_media":2496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Silver Heritage Group has secured a US$1 million working capital loan, following a record December 2019 performance in its Nepal operations, which generated over US$1.5 million in total revenues and US$350,000 in operating EBITDA. The loan, with a 15% annual interest rate and a December 2021 maturity, aims to capitalize on Nepal's \"Visit Nepal 2020\" campaign and new infrastructure developments.","focusai_entities":"Silver Heritage Group, The Millionaire\u2019s Club, Casino Kathmandu, Tiger Palace Resort","focusai_location":"Australia, Nepal, Bhairahawa","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Loan Impact on Capital","query":"How does the 15% interest rate on the US$1 million loan impact Silver Heritage Group's long-term capital structure and profitability, especially given its maturity in December 2021?"},{"label":"Nepal Market Outlook","query":"What specific GGR growth projections does Silver Heritage Group anticipate from the \"Visit Nepal 2020\" campaign and the new international airport, and how will these initiatives be leveraged to sustain the reported record revenues?"}],"footnotes":""},"categories":[160,16336,163,158],"tags":[289,29],"class_list":["post-2494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-australasia-news","category-finance-news","category-slider-home","tag-australia","tag-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2494","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=2494"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2494\/revisions"}],"predecessor-version":[{"id":2521,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/2494\/revisions\/2521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/2496"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=2494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=2494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=2494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}