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Tuesday, October 26, 2010

Foxwoods the biggest casino in USA was funded by Genting

Foxwoods is the biggest casino in USA and is operated by the Mashantucket Pequot tribe funded by Genting in 1992.

From harvesting lettuce and maple syrup, we have now become the most profitable casino in the world. Before Lim, we only knew poverty. It was with his faith and trust that we are what we are now.
- Michael Thomas, chairman of the Native American Mashantucket Pequot Tribal Nation.
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The late Tan Sri Lim Goh Tong's legacy does not only live on in Genting, but halfway round the world in the Native American tribe of the Mashantucket Pequot.

Unknown to most Malaysians, in 1991 the late Goh Tong helped the tribe that was struggling to grow cabbage by investing in their idea of building a casino, the Foxwoods Resort & Casino, which has now become the largest casino in the world. The chairman of the Mashantucket Pequot Tribal Nation, a sovereign nation within the US located in the state of Connecticut, Michael Thomas said the tribe owed a great deal to Lim for his vision and his confidence in them.

The tribe had approached 23 lending institutions who all turned them down for funding because they were afraid the loan would not be repaid.

A very hands on person, Lim Goh Tong travelled to meet the tribe and see for himself what was this Native American tribe was about and what their ancient values were. And within 48 hours, he agreed to give his support in the form of a US$60mil (RM200mil) investment. To show the magnitude of this seed funding, the revenue for the US government is close to US$2.7bil today from the casino operations of Foxwoods.

During his passing, the tribe gave all due respect in traditional manner. Thomas said this included all buildings in the nation flying their flag at half-mast for a week, while a sacred stone called Wampum which is sourced from a clam called the Quohog would be given to the family. It was important for the world to know that it was the faith Goh Tong had in them that allowed them to succeed beyond their wildest dreams.

Therefore if you have ethics, values, family values, and finally believe, things can change for the better.
MGM Grand at Foxwoods Hotel Mashantucket

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