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Mashpee Wampanoag Tribe said to seek $374M loan for casino

Filed Under: Casino Stalker
More on: debt, massachusetts, wampanoag

An artist's rendering of proposed First Light Resort and Casino. Image from Mashpee Wampanoag Tribe

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)

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)

Related Stories:
Mashpee Wampanoag Tribe remains optimistic for gaming bid (12/24)

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