December 01, 2009 3:48 AM
by Ray Poirier
When financial institutions shut their doors to Mashantucket Pequots of Connecticut, the tribe turned to South African casino mogul Sol Kerzner and his partner Len Wolman to fund their dream project: Foxwoods Resorts.
The pair reached out to the Malaysian investment group of Kien Huat for the financing and Foxwoods went on to become one of the most successful casinos in the world.
Aware of the success experienced by the Kerzner/Wolman team, the Mashpee Wampanoag tribe of Massachusetts signed on with them for a casino to be built on their reservation in Middleborough. A contract, negotiated by former tribal chairman Glenn Marshal, who is now serving a jail term for fraud and embezzlement, was not renewed by the current tribal council.
Kerzner/Wolman has agreed to bow out while the Wampanoags have begun to negotiate a financial arrangement with Kien Huat.