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

By | February 15, 2022
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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 The casino operating license and hotel level classification certificate have been revoked as per the law.”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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