Nepal casinos being forced to suspend operations<\/a><\/em><\/strong> because of the outbreak.<\/p>\n\n\n\nSilver Heritage had been looking at alternatives to administration, including potentially selling the Tiger Palace Resort Bhairahawa and The Millionaire’s Club in Kathmandu, both of which are in Nepal.<\/p>\n\n\n\n
In a press statement, they said: “The company had been exploring options to generate liquidity and prior to the emergence of Covid-19 had received expressions of interest from several parties in respect of possible transactions.<\/p>\n\n\n\n
“However, as a result of the emergence of Covid-19 and the forced temporary closure of the company\u2019s facilities in Nepal, the timing in relation to consummating one of the transactions has become uncertain.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming investors had been looking into alternatives but Covid-19 scuppered plans to sell assets.<\/p>\n","protected":false},"author":2,"featured_media":6528,"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, an Australian-listed gaming investor, has entered voluntary administration due to severe liquidity problems exacerbated by the COVID-19 pandemic, which forced the suspension of its Nepal casino operations. The company had previously explored asset sales, including Tiger Palace Resort Bhairahawa and The Millionaire\u2019s Club, but market uncertainty from the pandemic halted these potential transactions. KPMG has been appointed as administrators to manage the process.","focusai_entities":"Silver Heritage Group, KPMG, Tiger Palace Resort Bhairahawa, The Millionaire\u2019s Club","focusai_location":"Australia, Nepal, Bhairahawa, Kathmandu","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Regional Operators?","query":"What are the broader implications of Silver Heritage Group's administration for other land-based casino operators in emerging Asian markets, particularly concerning liquidity and regulatory support?"},{"label":"Distressed Asset Valuation?","query":"How might this administration and potential asset divestment influence the valuation benchmarks for distressed gaming assets in the current capital markets environment?"}],"footnotes":""},"categories":[160,16336,163],"tags":[289],"class_list":["post-6521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-australasia-news","category-finance-news","tag-australia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6521","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=6521"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6521\/revisions"}],"predecessor-version":[{"id":21380,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6521\/revisions\/21380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/6528"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}