Genting Massachusetts to aid in $500 million tribal casino resort

Genting Massachusetts may be aiding the Mashpee Wampanoag tribe in building and managing its $500 million First Light Resort and Casino development, in return for interest income and management fees, according to a note from Maybank.

However, given the lack of details, the Maybank analysts can only gather the development cannot be negative to Genting Malaysia, given it will be a new source of income.

It was announced on Jan. 8, 2016 that the Mashpee Wampanoag tribe of Massachusetts in the United States had their land recognized as reservation land, allowing the tribe to build a $500 million First Light Resort and Casino in Taunton under the Indian Gaming Regulatory Act.

The resort will include a 150,000 square foot casino, 600 hotel rooms, 3,000 slot machines, 150 table games and 40 poker tables as well as an event center and is expected to open in 2018.