Silver Heritage Limited (SHL) has begun operation of the Millionaire’s Club & Casino at Shangri-La Hotel in Kathmandu, Nepal.
While the casino itself isn’t a huge property, it’s been described as a boutique casino —having only 22 live gaming tables and 40 electronic gaming machines, the opportunity to invest in the country was too good of an opportunity to pass up for SHL.
“The Company has been looking to invest in the Nepali tourism and recreation industry since 2011,” SHL CEO Mike Bolsover said in a statement. “We are confident the Kathmandu development represents a huge opportunity given its proximity to India and China’s massive and growing middle class and Nepal’s cultural affinity with its Southern neighbor.”
According to SHL, the casino was opened with the idea of offering expanded gaming opportunities for Indian, Chinese, and Bangladeshi gamblers within the vicinity of the casino. Likewise, foreign nationals living in Nepal are also expected to be lured by the company, which is already planning to operate the property in a 24/7 capacity.
That’s the first step of SHL’s plan to become a bigger player in Nepal’s gambling market. The company has indicated that it also has plans to run a hotel/resort in Bhairahawa to complement its core investment business that provides leasing and revenue sharing solutions for a number of casinos located in Asia.
SHL’s presence in the region goes beyond the capacity of its new casino joint in Nepal. In addition to that, the company is also heavily entrenched in the Asia-Pacific region as an operator of slot machines and electronic casino table games in places like Macau, the Philippines, Vietnam, Northern Marianas, Cambodia, Laos, and cruise ships touring international waters.
Over in South Korea, local casino operator Grand Korea Leisure Co. announced its plan to operate casinos on cruise ships. According to its own announcement, the company has already engaged a consulting agency to determine the feasibility of the project.