Genting Malaysia has outlined that it’s assessing future possibilities when it comes to its investments, after the news that the Mashpee Wampanoag Tribe would not be permitted to construct a planned integrated resort in Massachusetts.
The ruling, which came from the US Department of Interior (DOI), was formed after the DOI came to the conclusion that the Tribe doesn’t fit the correct criteria set by the Indian Reorganisation Act.
In a recent announcement, Genting emphasised: “currently deliberating the appropriate course of action by working closely with the Tribe to review all options available for the group’s investment in the promissory notes as well as its recoverability.
“This includes a legislation being introduced in the US Congress which, if passed, will entail the DOI to reaffirm the land in trust for the benefit of the Tribe.”
The operator has also outlined that it will release further announcements on the subject as information becomes available.
Genting also recently signalled its intentions in Japan’s prospective integrated resorts sector, GentingSingapore created five wholly-owned subsidiaries in the country.
At the time, the firm issued a statement to the Singapore Stock Exchange: “Each subsidiary has an issued and paid-up share capital of JPY2 and its principal activities will be that of development and management of integrated resort and leisure destinations; marketing and promotion of integrated resort and leisure destinations; and investments and management of real estate and trust beneficiary interests.”
