Mashpee Wampanoag Tribe gets loan from gaming firm

Tuesday, December 1, 2009  

The Mashpee Wampanoag Tribe of Massachusetts has accepted a $1.5 million loan from its new gaming partner but Chairman Cedric Cromwell said the money won't have be repaid if a casino never becomes reality.

The tribe was already given $4 million by prior casino investors. Cromwell said the new loan won't be a big problem.

"Certainly, they know we have no other commercial money coming in," Cromwell told The Cape Cod Times.

The tribe is working with Kien Huat Realty, a subsidiary of Genting Group, the top gamlng company in Asia. Genting has financed casinos for the Mashantucket Pequot Tribal Nation of Connecticut and the Seneca Nation of New York, and owns a 49 percent stake in Empire Resorts, a partner of the St. Regis Mohawk Tribe of New York.

Get the Story:
Mashpee tribe partner backs casinos near and far (The Cape Cod Times 12/1)