Genting Helps Massachusetts Tribal Casino Get Out of Debt
On Wednesday, the Mashpee Wampanoag Tribe transferred $2.4 million to the city of Taunton, Massachusetts, resolving all outstanding payments the tribe owed to the city since 2021. The payment brings the tribe current on its financial obligations under a Payment in Lieu of Taxes (PILOT) agreement, which was established due to the conversion of taxable industrial land into property designated for future casino development.
LISTEN TO THIS ARTICLE:The payment was funded by Genting, according to the Taunton Daily Gazette, which has a long-standing financial relationship with the tribe. Genting had previously provided significant loans to support the tribe's First Light Resort & Casino project and operational costs.
Related: Massachusetts Considers New Gambling Law ReformsAs of December 2018, the total amount loaned by Genting was approximately $440 million. Although the company announced in 2019 that it would cease lending to the tribe, documents from the city confirm that the recent PILOT payment also originated from Genting, indicating that the financial relationship between the two entities has resumed in some capacity.
Construction efforts are ongoing at the tribe's casino Welcome Center in Taunton. The facility currently houses 50 slot machines and is undergoing expansion. The development includes additional entertainment space and exhibits related to Wampanoag culture and heritage. The expansion aligns with the tribe's broader objective of enhancing its economic and cultural footprint in the region.
The March 2025 agreement between the city and the tribe outlines the terms governing the operation of the Welcome Center. It permits a maximum of 50 slot machines within the temporary facility without triggering the earlier stipulated $8 million annual guaranteed payment found in the original intergovernmental agreement (IGA). According to the original IGA, once a full-scale casino becomes operational and open to the public for gaming, the tribe would be obligated to pay Taunton $8 million annually.
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The recent agreement not only supersedes the previous IGA but also provides the framework under which the tribe can increase its gaming operations. If the tribe chooses to expand beyond the 50-slot-machine limit, it must either renegotiate terms with the city or begin making the $8 million yearly payment as outlined in the prior agreement.
Additionally, the agreement allows the city to potentially receive revenue from the Welcome Center's slot machine operations. Specifically, if the number of operational slot machines surpasses 10, the tribe is required to remit 2.05% of net slot revenue to the city on a monthly basis. However, this monthly remittance is conditional on the Welcome Center's financial performance meeting a predefined revenue benchmark.
The March 2025 agreement also indicates that the $2.4 million owed by the tribe would be included in the financing documents related to a larger anticipated casino project. This provision allows the lender—identified as Genting in city documents—to pay the city directly. As of May 6, no new agreement has been executed that would modify or expand upon the March 2025 terms, based on public records requested by the Gazette.
The financial support from Genting, coupled with the ongoing development of the Welcome Center, suggests a renewed effort by the Mashpee Wampanoag Tribe to advance its casino plans while maintaining its fiscal commitments to the city of Taunton. The developments represent a key step in the tribe's broader strategy to establish a sustainable and culturally integrated gaming enterprise in southeastern Massachusetts.
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