First Business News Portal in English from Nepal
KATHMANDU: The government has given a seven-day ultimatum to seven casino companies that have yet to clear arrears of their royalty and renewal fees.
It has also warned of taking action against them if they fail to clear the arrears. The seven casino companies including Hotel Yak and Yeti Pvt Ltd, Oriental Hotels Limited, Happy Hour, Rock International and Central Media Pvt Ltd have to clear arrears amounting to over Rs 871 million remained of their royalty and renewal fees until the fiscal year of 2020/21, it has been said.
Repeated calls of the Department of Tourism to the casino companies to settle the arrears have gone unheard so far. Of them, Hotel Yak and Yeti Pvt Ltd have to settle over Rs 206 million in arrear, Oriental Hotels Limited over Rs 187 million, Happy Hour over Rs 215 million, Rock International over Rs 114 million and Central Media over Rs 133 million.
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