Genting Malaysia BerhadOTCPK - Current
Thu, Aug. 25, 10:50 AM
- The Department of Justice appealed a ruling from a federal judge that blocked proposed casino development on land owned by Indian tribe Mashpee Wampanoag.
- The $1B First Light Resort and Casino will be run by Genting Malaysia (OTCPK:GMALF) if it is developed.
- The issue boils down to if federal jurisdiction for the Mashpee Wampanoag reservation applies to the area near Boston where the casino is scheduled to be built.
- The Mashpee Wampanoag were acknowledged as a federally recognized tribe again in 2007 and now hold full tribal sovereignty rights.
- Wynn Resorts (WYNN +0.9%) also has plans for a casino in the Boston market. The Wynn Everett is scheduled to be opened in 2019.
Wed, Jul. 13, 1:46 PM
- The final decision on a massive casino in Massachusetts under development by the Mashpee Wampanoag Tribe rests in the hands of a federal judge after a hearing concluded earlier this week.
- If the judge approves the development, Genting Malaysia (OTCPK:GMALF) is set to run the hotel-casino complex which will be located within 50 miles of a new casino planned by Wynn Resorts (WYNN -1.9%) for outside of Boston.