casinoMACRO casinoMACRO
Online Casinos, Bonuses, Casino Games & Jackpots
casinoMACRO casinoMACRO
casinoMACRO casinoMACRO
  • Casinos
  • Bonuses
  • Games
  • Jackpots
  • Casino Directory
  • Casino Promo Page
  • Casino News & Blog
  • Sportsbook Reviews
16
new

Genting Subsidiaries Sell $1 Billion Bond to Finance Vegas Casino Construction

OneTouch launches unique Andar Bahar portrait mobile version card game

Betting and racing regulator grants Lottoland two licenses in South Africa

Online Gambling Perspective: Switzerland to Sponsor first informative Zurich iGaming Affiliate Conference

Few Bundles now available for 2019 MARE BALTICUM Gaming Summit

Wynn Executives Concealed Sexual Misconduct Allegations against Steve Wynn

Melco Awards Cyprus Casino Resort Construction Contract

Mainland China lottery sales Watch an 8.8 percent drop in February

Challenge your detective skills with the new Tom Horn Advanced slot title Sherlock: A Scandal in Bohemia

Michigan Lottery Leads a record $941.3 million into the Nation’s public education in 2018

Pioneering SiGMA Roadshow hosts first 2019 event of global tour in Manila with remarkable results

MGM Completes MGM Northfield Park Acquisition, Rebrand

Virgin Pushes Back Hard Rock Las Vegas Transformation

Slot Spotlight: Investigate the kingdom of Camelot in Red Rake Gaming’s innovative new slot KNIGHTS

Interested in an amped-up gaming experience with Red Tiger’s Mystery Reels MegaWays?

Southland Gaming & Racing Brings New Title and live table games

  • Casinos 
    SlotsMillion Casino ReviewSlotsMillion CasinoRizk Casino ReviewRizk CasinoLoki Casino ReviewLoki Casino21bet Casino Review21bet CasinoSpin Station Casino ReviewSpin Station Casino
    VIEW ALL
    New CasinosTOP Rated CasinosLive CasinosMobile CasinosBitcoin CasinosVirtual Reality
  • Bonuses 
    Betfred Casino: Stake £10 Play With 50 Free SpinsBetfred CasinoSlotsMillion Casino: 100% up to €100 + 100 Extra SpinsSlotsMillion CasinoLadbrokes Casino: 100% up to £500Ladbrokes CasinomBit Casino: 110% up to 1 BTCmBit casinoCasino.com: 100% up to $/€/£400 + 180 Free SpinsCasino.com
    VIEW ALL
    Welcome Bonus2nd Deposit3rd DepositMatch DepositReloadCashbackHigh RollerFree PlayFree SpinsNo Deposit
  • Games 
    Sam on the BeachSam on the beach slot reviewSantaSanta Slot ReviewHugo 2Hugo 2 slot reviewFinn and the SwirlyFinn and the Swirly slot reviewPlanet of the ApesPlanet of the Apes video slot
    VIEW ALL
    SlotsBlackjackVideo PokerRouletteBaccaratBingoScratchKeno
  • Jackpots 
    Mega FortuneMega Fortune SlotJackpot RangoJackpot Rango SlotThe Big JourneyThe Big Journey SlotMega MoolahMega Moolah SlotMajor MillionsMajor Millions Slot
    VIEW ALL
  • Directory
  • Promo Page
  • News & Blog
  • MORE
    • Directory
    • Promo Page
    • News & Blog
  • MENU
    • Casinos 
      • Bitcoin Casinos
      • Live Casinos
      • Mobile Casinos
      • New Casinos
      • TOP Rated Casinos
      • Virtual Reality
    • Bonuses 
      • 2nd Deposit
      • 3rd Deposit
      • Cashback
      • Free Play
      • Free Spins
      • High Roller
      • Match Deposit
      • No Deposit
      • Reload
      • Welcome Bonus
    • Games 
      • Baccarat
      • Bingo
      • Blackjack
      • Keno
      • Roulette
      • Scratch
      • Slots
      • Video Poker
    • Jackpots 
    • Directory
    • Promo Page
    • News & Blog
REGISTER
@
LOGIN
22
0
previous review

Cuomo Compared to New York mobile sports betting

next review

Digital Sports Tech reveals NCAA player prop betting option

Silver Heritage Group Limited agrees Vietnam Settlement deal

Contents
  • Overview
  • Rating
  • Full Article
  • Comments

Asian casino operator, Silver Heritage Group Limited, has announced that it is to receive some $5.25 million in compensation after agreeing a deal linked to the recent closure of its gaming operation inside northern Vietnam’s Phoenix International Club.

Casino closure:

The Sydney-listed firm used an official Tuesday filing (pdf) to detail that it had been responsible for a casino inside the property near Hanoi but was forced to shutter this operation earlier in the month due to a failure on the part of its local partner in the venture ‘to maintain the gaming license.’

Concluding contract:

Silver Heritage’s filing stated that the arrangement with the unnamed colleague represents a ‘full and final settlement of all claims and rights’ tied to its previous alliance and will also involve the entire transfer of its ‘gaming assets’ inside the Phoenix International Club to the owner of the property.

Lingering deficit:

The filing from the Hong Kong-headquartered operator explained that the compensation amount, which it is to receive via two separate installments, represents approximately two years’ worth of the earnings before interest, tax, depreciation and amortization it had expected to make from the venue in Vietnam. However, the group declared that it still expects to book an around $1.2 million shortfall on the deal due to some $6.5 million in losses associated with the recent shutdown.

Despite this, the filing affirmed that it believes the compensation deal to be ‘generally favorable having regard to all circumstances’ and that it now intends to ‘cease operations in Vietnam.’

Significant shutdown:

According to a Wednesday report from GGRAsia, the casino inside the Phoenix International Club had accounted for about 45% of Silver Heritage Group Limited’s unaudited annual revenues although the firm is said to have revealed in January that this operation had recently been performing ‘below budget expectations.’

Nepalese expansion:

Established in 2003, Silver Heritage opened its Tiger Palace Resort Bhairahawa casino resort a little over a year ago and is furthermore responsible for gaming operations at The Millionaire’s Club and Casino inside Kathmandu’s Shangri La Hotel and Resort. It is additionally hoping that the next few years will see it further grow its presence in Nepal via the construction of its gambling-friendly Tiger Palace Resort Jhapa on an 18.4-acre parcel of land in the extreme southeastern corner of the Himalayan nation.

What's your reaction?
Like
0%
LOL
0%
Cheers
0%
Cool
0%
What!?
0%
Meh...
0%
Sad
0%
RAGE!
0%
ZZz...
0%
Casino News & Blog
Casino closuresCasino NewsEconomy/FinancehanoiHong KongKathmanduLatest Casino and Gambling NewsMergers, Acquisitions & Partnershipsnepalphoenix international clubshangri la hotel and resortsilver heritage group limitedSydneythe millionaires club and casinotiger palace resort bhairahawatiger palace resort jhapaVietnam
Casino closures, Casino News, Economy/Finance, hanoi, Hong Kong, Kathmandu, Latest Casino and Gambling News, Mergers, Acquisitions & Partnerships, nepal, phoenix international club, shangri la hotel and resort, silver heritage group limited, Sydney, the millionaires club and casino, tiger palace resort bhairahawa, tiger palace resort jhapa, Vietnam
You might also like
Casino closuresCasino NewsEconomy/FinanceCasino News & Blog
 

Phoenix International Club Quitting casino operations

Successful this morning, the Phoenix International Club will cease all casino operations. The property is located in Vietnam in the area of Hanoi, managed from the Silver Heritage Group, an Australian-listed gaming firm. Revised Investment Certificate: [...]
 

Casino Di Campione Closing leaves local community Concerned

In northern Italy, last summer’s decision to temporarily close one of Europe’s oldest casinos has destroyed its host community and left 200 creditors from pocket to the combined tune of approximately €73 million ($83.47 million). [...]
 

Casino closing at Monticello Raceway; track to remain open for now

Casino operations at Monticello Casino and Raceway in Thompson in Sullivan County, New York will soon be shut down, however, the harness racing track will remain open for business, at least for the time being. According to The River Reporter… [...]
Welcome Offers
View All
 
Betfred Casino

Betfred Casino: Stake £10 Play With 50 Free Spins

GET BONUS
4669
 
SlotsMillion Casino

SlotsMillion Casino: 100% up to €100 + 100 Extra Spins

GET BONUS
16733
 
Ladbrokes Casino

Ladbrokes Casino: 100% up to £500

GET BONUS
121715
Best Online Casinos
 
SlotsMillion Casino Review
 
Rizk Casino Review
 
Cashmio Casino Review
Online Slots
     
 
91%
Sam on the beach slot review
72%

Sam on the Beach

January 26, 2018
123
12
SECTIONS
 
SlotsMillion Casino
SlotsMillion Casino Review
 
Casumo casino
Casumo Casino Review
 
Casino La Vida
Casino La Vida Review
 
Rizk Casino
Rizk Casino Review
 
Loki Casino
Loki Casino Review
View All
Exclusive!
 
Winner Casino: €30 free sign-up bonus, NO DEPOSIT
Bonuses
CHECK IT OUT!
Play Aloha! Cluster Pays at Royal Panda
Latest Casino News
View All
 

Genting Subsidiaries Sell $1 Billion Bond to Finance Vegas Casino Construction

Resorts World Las Vegas owner sells $1 billion bond to finance its construction; property on track for late 2020 opening Two subsidiaries of Malaysian casino and hospitality giant Genting Bhd priced on Tuesday $1 billion senior notes to fund the [...]
 

OneTouch launches unique Andar Bahar portrait mobile version card game

Top-rated programmer, OneTouch, has established the first-ever Andar Bahar mobile alternative in portrait style. The sport is among the most popular in the card game category of India, with the option now available in a unique format. New Mobile [...]
 

Betting and racing regulator grants Lottoland two licenses in South Africa

Global online lotto operator, Lottoland Limited, has revealed that the South African Western Cape Gambling and Racing Board has granted it a pair of licenses, including a manufacturing license for the development and use of the company’s own [...]
Top Rated This Month
 
Cashmio Casino Review
650
 
SlotsMillion Casino Review
511551
 
Rizk Casino Review
519001
 
Casumo Casino Review
11076
Latest Casino Bonuses
View All
 
Betfred Casino: Stake £10 Play With 50 Free Spins
4669
 
SlotsMillion Casino: 40% up to €100, Wednesday Gentlemens’ Bonus
1289
 
SlotsMillion Casino: 40% up to €100, Ladies’ Night Monday Bonus
1210
 
SlotsMillion Casino: 50% up to €100 Friday Reload Bonus
1196
TRENDING
   
 
Rizk Casino Review
1900
 

Few Bundles now available for 2019 MARE BALTICUM Gaming Summit

1781
 

Kindred opens new Madrid hub

1746
 
Ladbrokes Casino: 100% up to £500
1715
 

Online Gambling Perspective: Switzerland to Sponsor first informative Zurich iGaming Affiliate Conference

1674
 

MGM Completes MGM Northfield Park Acquisition, Rebrand

1643
 
Sam on the Beach
1569
Find the stuff you need
2nd Deposit 3rd Deposit Baccarat Bingo Bitcoin Casinos Blackjack Bonuses Cashback Casino News & Blog Casinos Free Spins Games High Roller Jackpots Keno Live Casinos Match Deposit Mobile Casinos New Casinos No Deposit Reload Roulette Scratch Slots TOP Rated Casinos Video Poker Video Slots Virtual Reality Welcome Bonus
Categories
Top Ten This Month
     
1
Rizk Casino Review
2

Few Bundles now available for 2019 MARE BALTICUM Gaming Summit

3

Kindred opens new Madrid hub

4
Ladbrokes Casino: 100% up to £500
5

Online Gambling Perspective: Switzerland to Sponsor first informative Zurich iGaming Affiliate...


6

MGM Completes MGM Northfield Park Acquisition, Rebrand

7
Sam on the Beach
8
Winner Casino: €30 free sign-up bonus, NO DEPOSIT
9
Santa
10
Jackpot Rango

Recent Comments
  • Anonymous on SlotsMillion Casino Review
  • Anonymous on InstaCasino Review
  • Anonymous on SuperLenny Casino Review
  • Anonymous on Rizk Casino Review
  • Anonymous on PlayFrank Casino Review
No Bullshit! Just an Independent Online Casino Reviews, Latest Casino Bonuses, Most Popular Casino Games & Jackpots. We Take your Casino Experience to a Whole New Level. All Our Featured Casino Games are 100% FREE. Just Enjoy and Play for Fun.

Copyright © 2025 casinoMACRO, All Rights Reserved.