Silver Heritage Group Ltd (SHG), an Australia-based gaming operator, didn’t fare too well in the first quarter of the year. The casino company just released its earnings to the Australian Securities Exchange (ASE), reporting a loss of $1.9 million in earnings before interest, taxation, depreciation and amortization (EBITDA). It’s not the end of the world, though, and company executives noted in their report that they expect business to pick up for the rest of the year.

For Q1, SHG reported total revenue of $4.7 million. This was helped in part by the recent grand opening of the company’s Tiger Palace Resort Bhairahawa, located in Nepal on the border with the Indian state of Uttar Pradesh. Tiger Palace received its gaming license in December of last year and opened to the public in mid-March of this year.

In the filing with the ASE, SHG reported, “Resort revenues and casino revenues [at Tiger Palace] have both been growing steadily over the first quarter 2018 and that growth continues in April.” However, Tiger Palace also reported an adjusted EBITDA loss of $1.8 million for the first quarter. The casino’s table drop was $3.2 million and its hold percentage was 23.9%.  Gross gaming revenue (GGR) was reported as $911,000.

In order to support its assertion that the financial situation is improving, SHG reported that the GGR for Tiger Palace in the first 28 days of April had reached $450,000. This was an increase of $50,000 over the GGR for March.