Nepal Orders Two Casinos to Close Due to Non-Payment of Royalties

According to local news outlet myRepublica, the Yak & The Yeti Hotel in Kathmandu and the Dreamland Hotel in Nepalganj were closed after repeated government demands for fees were ignored.

Yak & Yeti, 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 Home Office asking for help to implement its decision.

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

“According to the records… the company has not yet paid the debt until the 2020/21 financial year, renewal fees for the 2021/22 financial year and royalties for 420 million rupees (US$3.5 million). The casino license and the hotel classification certificate were revoked in accordance with the law.”

Dreamland Hotel’s license was revoked due to non-payment of royalties totaling Rs 3.8 million ($31,500). United States) after ignoring repeated written requests.

Nepal's casinos only reopened in October after being closed for 18 months due to COVID-19.

At that time The government has waived the annual license fee for the fiscal year ending June 30, 2021 for all casinos that regularly paid the annual fee up until the start 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< /p>

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