Casino shutdown threatens Nepal tourism

    Published in: Latest IntelligenceNepal’s government has shut down the country’s casinos for the first time in more than four decades of operation in a move expected to result in a major shakeout in the industry. The government ordered the closure after casinos failed to meet a deadline to comply with a new regulatory regime introduced last year that introduced a new fee structure. The country’s seven casinos in the capital Kathmandu owe the government 657.66 million rupees ($10.8 million) in tax and royalties and also have outstanding debts to local hotels. The industry had called for talks to reduce the new fee structure, but the government is standing firm. “The main issue is that of royalty. Casinos in Nepal have been an established industry. Unless they clear their dues, we are not going to make any compromise,” Ranjan Krishna Aryal, joint secretary at the Ministry of Tourism, told AGB.“That the casinos have...

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