Nepal’s casino industry fights back at regulatory changes

    Published in: Latest Intelligence Nepali casino operators are up in arms over the country’s new regulatory regime for their sector which had gone without direct oversight for 45 years. The rules, adopted by the cabinet last month and put into effect with the new fiscal year that began July 16, tighten qualifications and raise fees for casino operators.  They also specify requirements for the first time for slot halls, know there as mini-casinos, in addition to imposing new taxes and restrictions. The Casino Pokhara Grande closed its doors days after the rules came into effect, with the higher fees cited as a contributing factor. Casino Fulbari, Pokhara’s other casino, had shut its doors months earlier as the government stepped up efforts to collect fees due. The new rules stipulate that casinos should have a paid-up capital of at least 250 million rupees ($2.6 million), with the minimum set at 150 million rupees for...

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