Casino operator Silver Heritage Group has entered voluntary administration, with the impact of the pandemic proving the final straw for the company.
Prior to the COVID-19 pandemic, Silver Heritage had faced several issues in its key markets of Vietnam and Nepal. It had already been in the process seeking a buyer for its assets and in January 2020 had secured US$ 1 million working capital in the form of a shareholder loan.
In line with many other casinos around the world, Silver Heritage temporarily closed its two casinos in Nepal, as part of measures to combat the spread of the virus. Public gatherings of more than 25 people were banned in Nepal.