KUALA LUMPUR (April 1): Genting Malaysia Bhd is close to clinching a deal to manage a resort casino in Taunton, Massachusetts, the US.

In a filing with Bursa Malaysia today, Genting Malaysia said its appointment as a manager of First Light Resort & Casino is currently pending the approval from the National Indian Gaming Commission.

Once approved, the appointment will be for seven years commencing from the opening of the property, which is currently under construction by the Mashpee Wampanoag Tribe.

"The project, once it is completed, is expected to be a destination resort casino with fully integrated casino, hotel, entertainment, restaurants and retail components," said Genting Malaysia.

The 900-room First Light Resort & Casino will be opened in phases and will feature a 150,000 sq ft casino with 3,000 slots, 150 gaming tables and 40 poker tables.

The resort will also have three hotels — a luxury hotel, a mid-range hotel with a 15,000 sq ft convention centre and a 200-seater 24-hour restaurant, and a family hotel consisting of a 25,000 sq ft indoor/outdoor water park.

Genting Malaysia also said the group has to date invested US$249.5 million in interest bearing promissory notes issued by the Mashpee Wampanoag Tribal Gaming Authority for the initial development phase of the project.

"Though Genting Malaysia Group does not have any equity interest in the project or the tribe, which is sovereign, the investment in notes allows the group to enhance the returns expected from its involvement in the project," it added.

Genting Malaysia also said its foray into the gaming industry in Massachusetts will complement and further establish the group's growing presence in the US, where it already has operations and developments in the states of New York and Florida.

Genting Malaysia shares fell seven sen or 1.54% to close at RM4.47 today, bringing a market capitalisation of RM25.51 billion.