With the Nepalese gaming industry expected to boom, the government has announced it will be submitting a new casino bill aimed at encouraging foreign investment into the sector.
“We will be submitting a draft to the Cabinet next week for its approval in principle to prepare a Casino Bill 2018,” said tourism ministry spokesman Ghanshyam Upadhyay.
“The Law Ministry has given its okay to a preliminary draft. After the Cabinet’s approval, we will begin to draft the bill. The move to introduce the Casino Act is to enhance investment and employment in the industry which is expected to grow quickly,” he said.
While the new Act is touted to increase foreign investment in the industry, insiders with knowledge of the matter said the sole objective of the new act is to bring existing casinos in line as they have been operating freely without paying taxes and royalties to the government.
This is due to an interim order from the Supreme Court in 2016 that essentially has allowed operators to continue operating while only paying a portion of what they owe.
Source: Asia Gaming Brief
