Silver Heritage Plans To Build New Casino In Jhapa, Nepal
Australian-based Silver Heritage Group has announced that they plan to build a casino resort in Jhapa which is located in eastern Nepal. The group said that the process of buying the land is complete and the new casino will be called Tiger Palace Casino Resort Jhapa. Silver Heritage Group already owns the Tiger Palace Casino Resort in Bhairahawa. The cost of this latest project is not known at this point.
Brett Model who is the GM of Hotel at Tiger Palace confirmed that the purchase of the land has been completed. He told the Kathmandu Post that the new property in Jhapa will target customers from Bihar and Sikkim which are two neighbouring Indian states. The group is also considering the Bangladeshi market which is also in close proximity to Nepal. Documents showed that Silver Heritage Group paid a total of $3.2 million for the 74,5000 square meter parcel of land. That figure includes taxes and fees.
The company has had this plan in the works since 2016 but their previous attempt at securing the land was unsuccessful. Silver Heritage Group manages the Millionaire’s Club which is located in the Shangri-La Hotel in Kathmandu as well as the Tiger Palace Resort in Bhairahawa. The $52 million Tiger Palace Resort opened in 2017 and it became the first ever 5-star casino resort in the country.
Silver Heritage Looking To Replicate Success
Bhairahawa is a trade and industrial hub that is located near the Indian border. It is the gateway to Lumbini which happens to be the birthplace of Buddha and will also be the site of Nepal’s second-largest international airport when it is completed in 2019. Tiger Palace is just a 15-minute drive from Bhairahawa Airport and 18 minutes away from the Indian border.
Tiger Palace has targeted the massive Indian population that resides along the 1,700-mile border. It currently has 100 rooms but Silver Heritage has plans to build another 400 rooms. The property is spread over 15 bighas and has a pair of villas, a gym, a spa, and a swimming pool. There are also restaurants and meeting facilities along with a 2,471 square meter casino. Silver Heritage has had good success with this casino resort and is hoping to replicate that success with the new resort at Jhapa.
Settled Legal Battle
Silver Heritage Group recently found itself in a legal battle with Rajendra Bajgain who was the company’s local partner. An out of court settlement was reached in which Silver Heritage Group purchased their Nepali partner’s share of 10 percent.