Nepali government slashes casino royalty fees

    In a new Financial Bill, the government in Nepal has reduced the royalty for casinos to 30 million rupees from 40 million rupees. Similarly, the fee for mini-casinos is now 20 million rupees instead of 30 million rupees. The ruling followed complaints by casino operators that the fees were too high for them to operate profitably. 

    All casinos in Nepal were declared illegal on April 19 after failing to pay the fees and obtain new licenses. Speaking at a conference in Kathmandu on Saturday, Finance Minister Ram Sharan Mahat said he hoped to bring all closed casinos back into operation soon, realizing that “protecting jobs is as important as creating them”. 

    The Tourism Ministry has given approval to Gilt International to register with the Company Registrar Office for the purpose of operating a casino in Nepal. Gilt has expressed interest in operating the Casino Royale at the Yak and Yeti hotel in Kathamandu.