The Massachusetts Gaming Commission isn’t ready yet to trump the Mashpee Wampanoag Tribe’s dream of opening a $500 million Indian casino in Taunton.

The commission will give Gov. Deval Patrick and tribe leaders time to renegotiate the compact rejected Friday by the federal Bureau of Indian Affairs, said Chairman Stephen Crosby during the commission’s meeting Tuesday streamed over the Internet.

“Our position is to sit and wait until this works itself out,” Crosby said.

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