Nepal’s department of industry has approved investment from a Goa-based gaming company to operate a casino at the Hyatt Hotel in Kathmandu in partnership with a local firm.
Goa Coastal Resorts in a joint venture with Nepal-based Entertainment and Recreational - which will have a 15 per cent stake in the business - will invest Rs250m ($2.5m) to launch Casino Pride, Nepalese media reported.
“We have registered a company under the name of Casino Pride which is scheduled to come into operation in one and a half months,” one of the company’s promoters told eKantipur.com.
Tulasi Gautam, director general of the tourism department, said though the company has registered at the department of industry it still needs to apply for a tourism permit.
“After evaluating the company’s application, we will issue the operating permit.”
Once the casino is up and running, Goa Coastal will be the third company to operate a gambling operation under the new casino regulations, following in the footsteps of Silver Heritage and Casino Mahjong.
In February, Hong Kong-based Silver Heritage started operating the Millionaire’s Club and Casino at Shangri La Hotel, a boutique casino with 22 live gaming tables and 40 electronic gaming machines.
Source: Asia Gambling Brief
Saturday, March 21, 2015
Nepal approves another casino
