Silver Heritage may sell Nepal operations

A local businessman offered US$33.9 million to buy Silver Heritage’s Nepal operations, the company recently revealed.

Nepal.- Silver Heritage’s Nepal operations could soon switch hands. A local businessman has made an offer to acquire the unit for US$33.9 million.

Indra Bahadur Thapa, represented by I. Hugh Holmes, of Hotel Investment Partners will buy Silver Heritage’s Nepal unit. It holds the Nepalese assets and would be worth US$20 million, the company told the Australian Stock Exchange.

Furthermore, a US$13.9 million loan adds up to the enterprise value, which the buyer will assume.

Silver Heritage conducted a careful analysis of the offer for its Nepal operation. They said it included the lack of a superior bid and uncertainty as to whether it can continue as a going concern.

Nepalese casino restrictions

Casinos in Nepal will get a little boost as the government considers easing up on restrictions. According to local media, the authorities have decided to expand the industry’s reach through regulation changes.

As reported by the Kathmandu Post, the government decided in a recent Cabinet meeting to amend Casino Regulation 2013. That way, casinos and electronic gaming parlours may operate just three kilometres away from international borders, instead of five. 

“The government has shown flexibility by allowing casinos to operate at a distance of up to 3 kilometres from international borders in the context of the upcoming Visit Nepal Year 2020 campaign,” they quoted Ghanshyam Upadhyaya, spokesperson for the Ministry of Tourism, as saying.

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