The shiny new Tiger Palace Resort Casino in Bhairahawa, Nepal, opened at the end of last month, and already it looks like its future will be quite optimistic. What will possibly aid the casino in its future success is its location.
Business on a Platter
The Tiger Palace Resort is located on the border between Nepal and India. Because gambling is prohibited in India and most of the other legal casinos are about 1,200 miles away, Tiger Palace is making sure to capitalize on this and capture the attention of gamblers from the country. India has a population of 1.2 billion, and this puts it in the second spot as the most populated country in the world. This alone makes it very easy for operators to see success very fast.
Overall, Silver Heritage Group, the owner and operator of the resort, hopes the prime location will assist with its goal to tap into the Asian gaming market.
“Management believes that India represents one of the largest untapped gaming markets in the world, in part due to only two Indian states, Goa and Sikkim, permitting and having casinos,” said Silver Heritage in an investor prospectus.
The statement continued:
“With only six licensed live table casinos in India, management considers that the development of Tiger Palace Resorts will present alternative leisure and entertainment destinations, particularly for the emerging middle-class residents in the Indian states bordering Nepal.”
Gaming Ban in India
The ban on gaming in India has been around for 150 years. Although the possibility of lifting the ban has been considered in the past, gambling remains prohibited in the country. Last year, the Law Commission in India began reviewing whether or not it should consider lifting the ban and making gambling legal in the country since the gaming industry could potentially bring $60 billion in revenue. However, changes are highly unlikely because the Indian government has done all it can to make sure the 1867 Public Gaming Act is upheld. This is more than likely the reason why the law continues to be in place.
A Determined Future in The Market
Silver Heritage Group is a casino operator based in Hong-Kong. In addition to the Tiger Palace, the company also owns several properties across Asia, including Nepal’s capital, Kathmandu, and Vietnam. The company is determined to succeed and is very optimistic about the casino’s future because of where it is. According to casino.org, the predictions of annual revenue for India compare with China’s and are upwards of $12 trillion.
“India will have the world’s largest middle-class consumption on an annual basis by 2030, $12 trillion versus $10 trillion in China,” Silver Heritage stated.
The casino resort has 216 electric gaming terminals and 44 gaming tables, as well as meeting spaces. In addition, there are 100 guest rooms, six restaurants, many of which will serve Indian cuisine, and a spa. And, in March, the establishment will have VIP tables as well.
What is also important to note is the ease Indians will have when leaving Nepal and arriving at the casino. All they would need is a passport, and within no time, they will have arrived. According to casino.org, the cities of Patna, Lucknow, and Kanpur are all located within a short proximity to the casino; about 250 miles to be exact. However, if Indians choose to drive, it would be different because it could take a maximum of eight hours for casino-goers to reach their destination. Either way, Tiger Palace could not be in a better location, especially with Gorakhpur, a city of almost 700,000, being so close.