Management’s vision is for the Group to be recognised as a leading Asian regional casino gaming operator with ownership of casinos and licensed gaming operations. In order to achieve this, Management plans to implement the following business strategies:
- Continue to develop casino facilities in Nepal – The Group believes that substantial opportunities exist in Nepal to secure first or early mover advantage in providing casino gaming which is principally aimed at meeting demand for gaming from Indian customers located in close proximity to the India-Nepal border. To capitalize on this demand, the Group is currently building and developing Tiger Palace Resort Bhairahawa. The casino and resort are expected to open in early 2017 and will be the Group’s first wholly-owned and operated casino resort in Nepal.The Group also plans to open a second wholly-owned and operated casino resort, Tiger Palace Resort Jhapa. The Group has identified a site for and has paid a deposit (in two separate instalments) for the acquisition of land to be developed for this purpose. The Group’s longer-term intention is to develop further Tiger Palace Resorts near to the India-Nepal border.
- Seek new opportunities to acquire an equity interest in and management of casinos in Vietnam – The Group believes that Vietnam, where it has operated since July 2010, represents a key growth opportunity. Through its experience providing management services to the Phoenix International Club, the Group believes that it has proven its ability to generate strong margins and revenue growth in a Vietnamese casino and will, subject to appropriate funding, consider opportunities which will allow it to directly operate its own casino in Vietnam.
- Seek opportunities to develop other Asian markets – The Group will seek, on an opportunistic basis, to broaden its revenue streams through the introduction of additional gaming facilities or properties, either as operator or through revenue sharing arrangements in other Asian markets. However, Management believes that these markets are challenging, principally as a result of having extensive competition and less regulation, and therefore will carefully consider any future opportunities in these markets before pursuing them, to ensure they align with the Group’s overall strategy.