KATHMANDU: The government has canceled the casino operating license of Yak & Yeti Hotel Limited, Durbarmarg, Kathmandu for failing to pay Rs 420 million in royalty to the government on Wednesday. The Ministry of Culture, Tourism and Civil Aviation had issued a license to operate a casino in the name of the hotel on January 6, 1992.

Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale took a decision to revoke the five-star classification of the Hotel Yak & Yeti for the non-payment of the royalty amount to the state. Minister Ale said that the royalty and license renewal fee to be paid to the Government of Nepal has not been paid by the hotel as per the law.

“In the records of Kumarichowk and Central Arrears Recovery Office, the company is yet to pay arrears upto fiscal year 2020/21, renewal fees for the FY 2021/22, royalty fee worth Rs 420 million. The casino operating license and hotel level classification certificate have been revoked as per the law,” he added.

The ministry has written to the Office of the Prime Minister and Council of Ministers, Ministry of Home Affairs to assist in the implementation of this decision. Similarly, a letter has been sent to the Ministry of Land Management, Cooperatives and Poverty Alleviation to freeze all the immovable property in the name of the hotel. Similarly, Nepal Rastra Bank has been requested to block the bank accounts and financial transactions of banks and financial institutions that are under the name of the hotel.

According to the Department of Tourism, which regulates casinos, the Yak & Yeti Hotel has been repeatedly informed about the arrears through letters and public notice.

A letter was sent on October 24 and January 11, with 35 days and 15 days deadline, respectively, asking the hotel to pay the amount.

The Department of Tourism on Wednesday sent a notice to Yak & Yeti Hotels asking the hotel not to operate the hotel and casino until the due amount is settled.

 
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