In this interview with CalvinAyre.com’s Rebecca Liggero, Tim Shepherd of Silver Heritage tells us why Nepal will benefit from India’s economic rise and Macau’s slowing VIP market.
For decades, Macau’s economic glow has stood out thanks to the help of Chinese high rollers that helped turned this former fishing port into a vibrant gambling destination in Asia.
Macau even eclipsed the Las Vegas in terms of casino revenues as a result of liberalizing gambling rules and relaxed travel restrictions. But the light of Macau slowly faded after the Chinese implemented a crackdown on corrupt government officials last year.
As its economic glow starts to dim, the light of other regional gaming hubs becomes noticeable to players and operators seeking growth. One of these places is Nepal.
Tim Shepherd of Silver Heritage believes that Nepal is one of the alternative countries where casino operators may find growth, given its geographical location and the government’s casino-friendly policies.
Shepherd pointed out that Nepal has potential for casino revenue growth since it is strategically located beside India, which has an estimated population of 1.3 billion people. He added that Nepal has been a license free country for over 50 years.
“We like Nepal. Nepal has been a licensed jurisdiction for 50 years. We have operated a casino in Kathmandu for nearly 2 years. With India now as a tourist destination. By 2030, India have a greater middle class consumption than China and four times that of the US,” Shepherd told CalvinAyre.com. “So, with very, very little supply at the moment, we think Nepal is the spot. And we are investing in a resort there on the Indian border which is going to have 400 rooms, 50 tables, 250 slots, the first of its kind anywhere along that 1,000 km border in India.”
When asked about the future of Macau, Shepherd said that Asia’s premier gambling hub will follow the path of Las Vegas, which now caters on the mass market, in the couple for years.
He also predicted that high rollers in Macau will now turn into online betting.
“If you are to speculate, proxy betting is likely in the Philippines, Vietnam possibly, another in Cambodia. So maybe the gaming hasn’t stop but it is not going through the regular channels.” he said.