Delta Corp Casino In Nepal
Delta Corp reported last Thursday that it has issued a licence for its Deltin Group subsidiary to run a casino in Nepal. The announcement follows the company’s announcement in October 2017 that it had signed a memorandum of understanding with Everest Hospitality and Hotel Pvt Ltd to lease space at the Marriott Hotel being built in Kathmandu. Delta Corp., an Indian gambling and Hospitality Company, also showed interest in managing a casino venue in the country. Silver Heritage is currently developing its first casino resort along the Nepali border, aimed at serving one of the largest untapped gaming markets in the world. Delta Corp share price added nearly 5 percent in the morning trade on January 10 after a subsidiary of the company got a licence for a casino in Nepal. The company signed a memorandum of.
India’s largest casino operator has been granted a gaming licence in Nepal.
Inkedin reports that Delta Corp has finally secured the gaming licence after first sticking a casino management deal in the country more than two years ago.
Delta Corp reported last Thursday that it has issued a licence for its Deltin Group subsidiary to run a casino in Nepal.
The announcement follows the company’s announcement in October 2017 that it had signed a memorandum of understanding with Everest Hospitality and Hotel Pvt Ltd to lease space at the Marriott Hotel being built in Kathmandu, Nepal’s capital.
At that time, Delta Corp proposed opening the 5-star, 235-room Marriott Kathmandu by June 2018.
The property did not start accepting guests until more than a year after that date, in July 2019.
Delta’s recent announcement avoided specifics about when it might actually launch its new casino, saying only that it expects to “soon” start gaming operations at the new hotel.
Delta is India’s only publicly traded casino operator and by far the largest in the country.
Delta runs three floating casinos and one land based location on Goa, one casino in Sikkim state and one hotel in Daman union territory.
The latter operation waited for approval to open a casino for years, without any sign of the arrival of that wonderful day.
Delta also runs an online poker and rummy business, small but growing.
India is the primary customer source for the small number of casinos in Nepal, which remain off-limits for local residents.
Full-scale casinos (slots and tables) are allowed in five-star casinos, while electronic gaming operations are limited to four-star venues.
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The government of Nepal will welcome the opening of the Delta Casino, as it has pledged to boost international tourism through its Visit Nepal 2020 initiative.
Already awaiting Delta’s arrival are several potential casino competitors, including Australia’s Silver Heritage Group, the Sri Lankan-based Bally’s and Indian companies Pride Group and Mahjong Group.
Delta Corp approved for casino licensing in Nepal https://t.co/mDqfntGI60pic.twitter.com/eEIiJIIZKP
— 20black (@20black5) January 14, 2020
Sri Lanka proposes $50 casino entry for nationals
The government of Sri Lanka has clarified that a proposed $50 casino entry fee would only apply to nationals, its Finance Minister says.
International visitors would not be required to pay a casino entry levy in order to be admitted to the nation’s casinos, Casino News Daily reported in April.
News about Sri Lanka’s plans to introduce an entry fee on visitors wishing to gamble at local casinos first emerged last month and was tacked onto the country’s budget for the next fiscal year.
The casino entry was in conjunction with raised casino license fees and a turnover tax.
Each licensed casino currently operating in Sri Lanka is required to pay an annual licence fee of LKR200 million (US$1.1 million).
Lawmakers decided to double that fee to LKR400 million (US$2.2 million).
In addition to this, licensed casino operators will be obligated to pay an annual 15 per cent tax on gambling turnover, with the new tax taking effect on April 1.
While the increased licence fee and the new turnover tax are expected to have a particularly negative impact on Sri Lanka’s gambling industry, analysts believe that the entry fee could be the one to hurt the sector the most.
Being required to pay an entry fee will discourage players, particularly nationals, from gambling at local casinos, experts worked.
The tiny South Asian island nation has over the years attracted considerable interest among major players in the global casino industry.
In 2013, Australian gaming operators Crown Resorts confirmed that it was in advanced discussions with the government to develop a casino resort in the country’s capital Colombo.
Las Vegas Sands was also eyeing entry into Sri Lanka after a failed attempt in India.
Other
India’s Delta Corp aims to operate a casino in Nepal
The agreement was signed with Everest Hospitality and Hotel Pvt Ltd, “for leasing space at the upcoming five-star Marriott Hotel in Kathmandu, Nepal,” said Delta Corp in a filing to the Bombay Stock Exchange.
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Everest Hospitality and Hotel is a subsidiary of Nepal-based hospitality firm MS Group. The 235-room Marriott-branded hotel is scheduled to open next year, in the Naxal area of Kathmandu. Marriot International Inc manages another hotel property in Nepal – developed by the MS Group – that opened earlier this year.
“Delta will initiate steps to obtain a casino licence from the Government of Nepal and the commencement of operations of the casino will be subject to receipt of this licence,” stated the casino firm in its latest filing.
Delta Corp Casino In Nepal City
It added: “With this proposed casino in Kathmandu, Delta aims to expand its imprint outside India, in line with its strategy of expanding in the region.”
Delta Corp, controlled by businessman Jaydev Mody, currently operates casinos in the Indian states of Goa and Sikkim.
Nepal is already host to a few casino venues. Boutique Asian casino operator and developer Silver Heritage Group Ltd said last month it had a soft opening – for hotel accommodation-only – of its Tiger Palace Resort Bhairahawa in Nepal. The firm is targeting to open the casino by November 30, 2017.
Source: GGRAsia
