The Nepalese government plans to amend Casino Regulation 2013 after operators expressed an unwillingness to relaunch their operations due to “unfeasible requirements.”
Ministry of Culture, Tourism, and Civil Aviation (MoCTCA) spokesperson Mohan Krishna Sapkota told the Himalayan Times that it is prepared to hear the complaints of local operators regarding capital and renewal fees.
“Casino Regulation-2013 has envisaged attracting foreign direct investment in casinos and the law was formulated accordingly,” Sapkota said. “However, considering the request of local operators, the ministry is doing groundwork to make some amendments.”
Local operators have argued that casinos would be hard-pressed to obtain new licenses because the regulations enforced in 2014 are too restrictive and expensive. The new regulation requires operators to have Rs 250 million ($2.5 million) as paid-up capital and submit a bank guarantee of Rs 30 million. Operators also face an annual license renewal fee of Rs 20m.
“We have told the MoCTCA that the regulation enforced in 2014 was not formulated based on ground realities and casino operators of the country do not have any plan to obtain the new licence until the regulation is revised,” Casino Association Nepal president Kishore Silwal added.
Of all the casino operators in Nepal, only two—Casino Mahjong and Millionaire’s Club and Casino—have opened after the new regulations were put in place in July last year.
