Australia-listed Silver Heritage Group has secured a loan of US$1m that will be used for working capital purposes of the company.
The loan was first announced on December 27 on the back of record-breaking monthly GGR for the company. The loan has a maturity date of December 31, 2021, with an interest rate of 15 per cent per annum payable upon maturity.
Silver Heritage Group noted that the company’s Nepal casino operations enjoyed a record month in December, generating more than US$1.5m in total revenues across The Millionaire’s Club and Casino Kathmandu and Tiger Palace Resort, Bhairahawa.
The resulting operating EBITDA was more than US$350,000.
Silver Heritage also made note of Nepal’s “Visit Nepal 2020” campaign, targeting more than two million international visitors to Nepal, and the scheduled opening of the country’s second international airport, located only 10km from Tiger Palace Resort.
Source: Asia Gaming Brief