Another issue raised in the Q1 note is a Massachusetts tribal casino — supported by Genting investments — that has been delayed, too.<\/p>\n
The company\u2019s bid to build a $1 billion casino in Taunton in partnership with the Mashpee Wampanoag tribe was thrown into jeopardy last year. The US Department of the Interior ruled that the previous administration had taken land into trust to the tribe in error and reversed the decision.<\/p>\n
Genting was forced to declare a $440 million impairment charge in its Q3 accounts. It represented financial backing extended to the Mashpee for the proposed casino.<\/p>\n
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A federal bill that reaffirms the status of the Mashpee Wampanoag land was approved by the House of Representatives earlier this month. If approved by the Senate and signed into law by President Donald Trump, the bill could help pave the path for the casino.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Profit at Genting Malaysia Berhad dropped over 25 percent in the recent first quarter, with company officials highlighting that results were impacted by a delayed outdoor theme park at Resorts World Genting. The company saw $64 million in Q1 profit in contrast to $85 million for the same quarter in 2018. Q1 revenue was approximately […]<\/p>\n","protected":false},"author":44,"featured_media":105936,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810],"tags":[],"acf":[],"yoast_head":"\n
Genting Malaysia Berhad Sees Lower Quarterly Profit As Theme Park Contract Termination Highlighted - Casino.org Genting Malaysia Berhad Sees Lower Quarterly Profit, Theme Park Contract Termination Highlighted in Company Statement<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n