Two hotels in Nepal have ben forced to shut down their casino venues for failing to pay royalties.<\/p>\n\n\n\n\n\n\n\n
Nepal.- According to local media reports,\u00a0the Nepalese government has cancelled the casino licences<\/strong>\u00a0of two hotels for failing to pay royalties. Yak & Yeti Hotel failed to pay Rs420m while Dreamland Hotel failed to pay Rs3.8m. <\/p>\n\n\n\n Yak & Yeti’s casino licence has been revoked, and the hotel’s five-star rating has been revoked. The Ministry of Culture, Tourism and Civil Aviation sent a letter to five casinos in early February, giving them seven days to pay off their debts. <\/p>\n\n\n\n Last September,\u00a0Casino venues<\/a>\u00a0were allowed to\u00a0resume operations in Nepal around 18 months\u00a0<\/strong>after being ordered to close due to the Covid-19 pandemic. All\u00a0gambling venues in Nepal were shut since March 24, 2020<\/a>, when authorities imposed a lockdown due to Covid-19.<\/p>\n","protected":false},"excerpt":{"rendered":" Two hotels in Nepal have ben forced to shut down their casino venues for failing to pay royalties.<\/p>\n","protected":false},"author":176,"featured_media":15967,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Nepalese government has revoked the casino licenses of Yak & Yeti Hotel and Dreamland Hotel due to significant outstanding royalty payments. Yak & Yeti Hotel also lost its five-star rating following its failure to remit Rs420m, while Dreamland Hotel owed Rs3.8m. This action follows a prior seven-day ultimatum issued to multiple casinos regarding their debts, set against the backdrop of venues having recently resumed operations post-COVID-19 closures.","focusai_entities":"Yak & Yeti Hotel, Dreamland Hotel, Nepalese government, Ministry of Culture, Tourism and Civil Aviation","focusai_location":"Nepal","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sector Financial Health?","query":"What are the systemic implications of these license revocations for the broader financial health and operational stability of the Nepalese casino sector, particularly given the recent post-COVID-19 reopening?"},{"label":"Governance Frameworks Impact?","query":"How do Nepal's current gaming governance frameworks and royalty collection mechanisms compare to international best practices, and what reforms might be considered to prevent future non-compliance?"}],"footnotes":""},"categories":[28,16334],"tags":[23911,23907],"class_list":["post-27203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-asia-news","tag-gambling-regulation","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27203","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27203"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27203\/revisions"}],"predecessor-version":[{"id":27211,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27203\/revisions\/27211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15967"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}