Nepal Casinos will soon start operations under a new casino bill. The government of Nepal has taken the decision to encourage foreign investment into the sector and streamline casino operations in the country.

The Official Verdict

According to Kathmandu Post, tourism ministry spokesman Ghanshyam Upadhyay said, “We will be submitting a draft to the Cabinet next week for its approval in principle to prepare a Casino Bill 2018.” He further clarified. “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.”

The Impending Reason

The government has reasoned the need of a new law for increasing foreign investment into the country. However, the impending reason is to bring the casinos under a regulation. This will make them liable to pay taxes to the government.

It’s been quite some time since casino operators have continued to operate by paying only a fraction of what they earn. This is due to an interim order from the Supreme Court in 2016.

“The most complicated matter for the department is that it cannot collect taxes and royalties as it has scrapped their licenses. In the legal sense, the casinos are operating unlawfully. But, we have to honor the court’s ruling,” said an unnamed official from the Department of Tourism.

Currently, the Casino Regulation 2013 governs the Nepal casinos. Once the new Casino Act rolls out in Nepal, it will surpass the existing one and also the Supreme Court’s orders.

An anonymous government official in a statement to The Kathmandu Post further confirmed the outcome. He said, “It will also regulate the casinos in a more managed way and protect the investment of foreign investors.”

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