Asia

Nepal Govt Revokes Licenses of Two Casinos for Failing to Pay Royalties

Published

4 years ago

February 15, 2022

Niji Narayan

Reading Time: < 1 minute

The Ministry of Culture, Tourism and Civil Aviation in Nepal has cancelled the operating licenses of two casinos for failing to pay their royalties.

As per news reports, the two casinos, Yak & Yeti Hotel in Kathmandu and Dreamland Hotel in Nepalgunj, have been ordered to shut down after ignoring the government’s request to pay royalties.

The Yak & Yeti Hotel, which has operated a casino since 1992, has also seen its five-star classification revoked with the ministry having written to the Office of the Prime Minister, the Council of Ministers and the Ministry of Home Affairs to assist in implementing its decision.

Minister for Culture, Tourism and Civil Aviation, Prem Bahadur Ale, said: “In the records … the company is yet to pay arrears up to fiscal year 2020/21, renewal fees for the FY2021/22 and royalty fees worth Rs 420 million (US$3.5 million). The casino operating license and hotel level classification certificate have been revoked as per the law.”

Dreamland Hotel has seen its license revoked for defaulting on royalties totaling Rs 3.8 million (US$31,500) after also ignoring repeated written requests.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.