David Green spoke with media regarding the Nepalese casino industry and the changes coming soon. Nepal is a landlocked country, in the Himalayas. It is one of the hubs for south Asian casinos. The location according to Green has a talented pool of professionals that help in the land-based casinos. For fifty years, the country has had land-based casinos. Unfortunately, the casinos are starting to struggle to find new investors, so they can make even better casino moves. Investors are not aware of all Nepal offers.
For the casinos to make a huge economic impact, they need investors to become larger facilities that will attract more tourists. Green believes the trouble lies in the regulatory framework. David Green is part of the Silver Heritage Group. The government needs to update its regulations, so it would be more attractive to future investments.
The regulations are quite limited right now. The regulations focus more on getting taxes and royalties from player winnings than casino revenue. There is just not enough financial capacity in the requirements to make it worth an investment. Until more contemporary regulations are provided the country is not going to get more investors.
David Green says Nepal’s government is now recognizing the need for changes, and they are looking to change the laws to help drive more growth through tourism. Integrated resort projects such as Tiger Palace Bhairahawa is a key piece of evidence that shows the government it is feasible to gain more attention from outside investors and tourists.
Green has named numerous advantages for integrated resorts being constructed in Nepal. There is the proximity to China and India, both of which are tough on casinos in their countries. In fact, China only allows casinos in Macau. India has some floating casinos and many states are able to make choices regarding casinos, but on the whole regulation says “no.”
Nepal could certainly benefit from getting a better regulatory system in place. Nepal is more of a Marxist Leninist coalition government over communism. By adding casinos, Chinese may visit the country more often.
New Regulations to Learn
When Nepal does gain new regulations, it will be important for casino operators to pay attention to the new laws and begin applying for licenses or investment options to avoid breaking the new rules.
Casinos better be aware of the changes in Nepal to avoid problem gamer controversies like 32 Red is suffering from right now.
