Nepal pushing for new regulatory regime

    Published in: Latest Intelligence   Nepal’s caretaker government may be having its difficulties with scheduling elections, but it is having some success with bringing the country’s unruly casino sector into line, paving the way for a new regulatory regime for the gaming industry.  The casinos have long operated in a grey area as gambling was officially banned under a 1963 law but the royal family started opening casinos to serve foreign tourists six years later. Then the American businessman who ran the casinos for the royal family split with his Indian top lieutenant over control of the country’s casinos, setting off a legal battle that runs to this day. The ouster of the monarchy and the rise of former Maoist rebels to power in 2008 put the status of the casinos further in question. Amid the confusion, the country’s casinos have frequently gotten away both with not paying taxes and royalties due to the...

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