Indian Gaming Now

Finance & Intrigue in Massachusetts, Continued . . .

Dec 2 2009
So, back to the recent announcement that the Mashpee Wampanoag Tribe has ditched investors Kerzner and Wolman, and has partnered with Arkana Limited of the Genting Group.

The Genting Group is the trading name for Lim Goh Tong's Genting Berhad company, established in 1964 in Malaysia.  The corporation is best known for Genting Highlands, Malaysia's casino and themepark.  Genting Highlands is a wildly popular resort casino, known as Malaysia's Las Vegas and the City of Entertainment.  In 2006, there were more than 18 million visitors to the resort.  Genting Highlands was the vision of Lim Goh Tong, who died in 2007.  Lim Goh Tong was, at one time, the richest man in Malaysia, which is pretty darn rich -- his estimated worth was more than $4 billion in U.S. dollars.  Lim Goh Tong also founded Star Cruise Lines, the third-largest cruise line in the world, which Genting Group continues to hold.  Lim Goh Tong handed the reigns of the Genting Group to his son, Lim Kok Thay, in 2003.

Sol Kerzner and Lim Goh Tong were, one might say, visionary in their assessment of the potential of the tribal gaming industry.  Kerzner was instrumental in the development of the Mohegan Sun casino, and Lim Goh Tong provided the financial backing for Foxwoods Resort Casino.  Both profited handsomely.  Reportedly, the Mashantucket Pequots turned to Lim Goh Tong when American investors saw tribal enterprises as not worth the risk.

Read more:
Cape Cod Times, Mashpee Tribe Partner Backs Casinos Near and Far
Stamford Advocate, Connecticut Casinos in Crisis: Foxwoods' Loan Deals . . .