Tiger Palace Resort By Silver Heritage to Soft Launch in Feb 2017

Tiger Palace Resort
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  • PG News October 29, 2016
  • 1 Minute Read

Almost three months after announcing its plan for a casino-resort on the Indo-Nepal border, the Silver Heritage Group has recently stated that it will have a soft launch for the new property, Tiger Palace Resort by February 2017. The construction update was filed by the company at the Australian Securities Exchange on Monday, according to ggrasia.com.

It was reported that the foundations were almost 75% complete for the hotel rooms, food and beverage sections, as well as for the casino area. This first phase was launched in 2013 and would cost the group approximately $40 million and will offer a 5 Star hotel with 100 rooms, 2 villas, 52 gaming tables and 200 electronic gaming machines on a area of 14,000 sq ms in a 24.7 acres site.

The internal structure and roofing are already 98% complete and the property would also offer facilities such as a pool, spa, tennis, gym, conference hall, meeting rooms, provisions for weddings, six food and beverage outlets, and shops.

The second phase was launched in 2015 with the Millionaire’s Club and Casino, Kathmandu, Nepal and will offer 22 tables and 38 gaming machines, with access to 120 rooms.

According to the filing on Monday, the third phase the India-facing Tiger Palace resort at Bhairahawa would be the third stage of the Silver Heritage Group’s current business plans, seeking to capitalize on the vast Indian public near the Nepal border.

The company research had shown that a huge market was available through the 430 million people in Delhi and the three neighbouring states, living merely a six-hour drive away from the property.

Funds for the venture had been raised through an $18.8 million IPO in late August, after the company began trading on the Australian Securities Exchange. The Silver Heritage Group has many gaming centers in Nepal and Vietnam, having grown significantly since it started in 2003.

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