Silver Heritage Group Has Strong Quarter

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."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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4 November 2017 - 9:46pm
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So things going well for them even before the opening of their new casino but seems like they count pretty heavily on that.