Bar on locals and credit strengthened

 

Under new rules that came into effect this week, casinos found to have Nepalis gambling on the premises could lose their operating licenses immediately, according to an official from the prime minister’s office. Only foreigners are legally permitted to gamble in the country’s casinos.

Casinos currently are only licensed to five-star hotels, but draft regulations will allow four-star hotels and other private companies to apply for licenses too.  Foreign companies will be allowed to invest in casinos. Five-star hotels with casinos will have to pay 40 million rupees ($426,000) a year and put up 250 million rupees in capital. Four-star hotels will be charged 30 million rupees and need 150 million rupees in capital.

Casinos will now be required to report daily customer numbers and transaction volumes to the government. Casinos will be prohibited from extending credit and required to invest 2 percent of profit on social programs.