Nepal Ordered To Close Two Casinos due to Non-Payment of Royalties

According to local news agency myRepublica, casinos at the Yak & Yeti Hotel in Kathmandu and Dreamland Hotel in Nepalgunj were closed after ignoring repeated government demands for payment of fees.

The Yak & Yeti Hotel, which has operated a casino since 1992, was also stripped of its five-star classification, as the Ministry sent a letter to the Prime Minister’s Office, the Council of Ministers and the Ministry of Internal Affairs asking for help in implementing its decision.

Minister of Culture, Tourism and Civil Aviation Prem Bahadur Ale said:

“Judging by the records … the company has not yet paid the debt until the 2020/21 fiscal year, renewal fees for the 2021/22 fiscal year and royalties in the amount of 420 million rupees (3.5 million US dollars). The casino license and the hotel classification certificate have been revoked in accordance with the law.”

The Dreamland Hotel license was revoked due to non-payment of royalties totaling 3.8 million rupees (31,500 US dollars) after ignoring repeated written requests.

Nepal’s casinos only reopened in October after they had been closed for 18 months due to COVID-19.

At that time, the government waived the annual license fee for the fiscal year ending June 30, 2021, for all casinos that regularly paid the annual fee until the outbreak of the pandemic. However, it states that only eight or nine casinos are eligible for such a waiver.

Nepal’s casino industry is said to employ about 15,000 people.

Source: Inside Asian Gaming

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