The Mashpee Wampanoag Tribe of Massachusetts is seeking to borrow another $374 million for its casino bid, according to members who are worried about the growing debt.
The tribe is already on the hook for about $100 million. The money is owed to the Genting Group, a Malaysian gaming firm, at an interest rate of 16.5 percent, The Cape Cod Times reported.
“We should all get a vote on that,” a tribal member told the paper.
Tribal members are meeting Sunday to consider the tribe's annual $12.5 million budget.
Get the Story:
Mashpee members urged to question finances
(The Cape Cod Times 1/7)
$P DOI Solicitor Opinion:
M-37029: The
Meaning of "Under Federal Jurisdiction" for Purposes of the Indian
Reorganization Act (March 12, 2014)
Federal Register Notice:
Final
Environmental Impact Statement for the Proposed Fee-to-Trust Transfer of
Property and Subsequent Development of a Resort/Hotel and Ancillary Facilities
in the City of Taunton, MA and Tribal Government Facilities in the Town of
Mashpee, MA by the Mashpee Wampanoag Tribe (September 5, 2014)
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Mashpee Wampanoag Tribe remains
optimistic for gaming bid (12/24)