Australian gaming company Silver Heritage Group has posted their strongest quarter since going public last year, noting that revenues jumped to $4.8 million.
The company revealed that revenues were up 16.4% to $4.8 million, with the company noting that their Tiger Palace Resort Bhairahawa in Nepal will open next month. The casino has gone over its projected cost of $40 million, with the current pricetag coming in at $51.8 million. EBITDA is up to $956,000 from $533,000 in the quarter prior. Gross profits for the quarter were up 20% to $5.1 million.
Revenues for the nine months of the year came in at $12.82 million, with EBITDA for the same period at $2.14 million.
The company was short in their financial report, but spoke about the upcoming launch of their Nepalese resort, noting: "[Tiger Palace] remains on budget [for completion] at less than the revised budget amount of US$51.8 million, and for the casino to open by November 30."