Asian Casino Group Goes Public in Australia

Silver Heritage Group Offers Stocks to Australians

Asian casino group plans to construct complex in Nepal.

Australian investors will have the chance to buy stocks in the Hong Kong based Silver Heritage Group after the company launches an initial public offering in Sydney next month.

The casino group is hoping to raise $25 million buy selling ordinary shares at 0.40 per share, to fund a number of exciting projects across Asia, especially Nepal, Cambodia, Laos and Vietnam.

Last year, Silver Heritage Group won a license to operate The Millionaire's Club and Casino in Katmandu, while a new facility, the Tiger Palace Resort will open early next year.

The latter facility, to be built in Nepal close to the Indian border, will have nearly 2,500 square meters of casino floor, a 100 room luxury hotel and an entertainment/wedding/conference complex.

The Silver Heritage Group is hoping to use most of the funds it raises through the IPO in Australia to develop the Tiger Palace Resort.

Influenced by Australian Casino Stocks

One of the main reasons for launching on the Australian Securities Exchange, according to the group, is that the local market is familiar with investing in successful casino groups.

Silver Heritage Group's CEO, Mike Bolsovler said that his team had been "encouraged to list on the Australian Securities Exchange as a result of the market's depth of understanding for gaming stocks such as Crown, the Star Entertainment Group and Tabcorp, along with its reputation as one of Asia's leading capital markets."

Significant Competitive Edge

The Silver Heritage Group feels that it has a significant edge over its competitors in Nepal, a country which has a mere three licensed casinos.

"We've been in Asia for over twelve years and in Nepal since 2012," said Bolsover. "We are a group that develops projects over time and only where we see significant competitive advantages. We focus on mid-size opportunities and improving operating performance to best practice standards. This strategy has allowed us to build significant expertise and local knowledge while growing profitability and generating attractive returns on capital. We successfully applied for a license to operate The Millionaire's Club And Casino in Katmandu in early-2015 and in early-2017 will launch our beautiful new facility, Tiger Palace Resort."