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Revere would receive $33m down payment, $25m to $30m a year, under Mohegan Sun proposal

23 Dec Posted by in Recent News, Revere Happenings | Comments
Revere would receive $33m down payment, $25m to $30m a year, under Mohegan Sun proposal

By Mark Arsenault |  GLOBE STAFF     DECEMBER 23, 2013

REVERE — Connecticut casino giant Mohegan Sun would pay the City of Revere $33 million upfront, as well as annual payments of at least $25 million to $30 million under a deal announced today for a gambling resort at the Suffolk Downs racetrack.

The deal is expected to go before Revere voters for a referendum vote in about 60 days.

“Through this partnership, Mohegan Sun and Suffolk Downs will create jobs, enhance our local and state economy, and generate much needed revenue,” Mayor Daniel Rizzo said in a statement.

Mohegan Sun wants to build a $1 billion gambling resort on about 42 acres in Revere owned by Suffolk Downs, which the casino operator would lease. Plans call for about 4,000 slot machines, 100 table games, and a poker room.

“This agreement formalizes the strong partnership we’ve quickly established with Revere, and lays out the many ways the city and its residents will benefit from Mohegan Sun Massachusetts,” said Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority.

The proposal is the second try to build a casino on racetrack property, after original casino plans by Suffolk Downs failed in a split decision at the ballot box. Revere approved those plans on Nov. 5, but East Boston voters rejected them. That same day, Mohegan Sun lost a casino referendum in Palmer, a rural town in western Massachusetts.

Immediately after the votes, Suffolk Downs officials began speaking with Rizzo about building a casino only on the Revere side of the city line that passes through the racetrack’s 163-acre property.

Track officials struck a deal in late November for Mohegan Sun to lease its land for a casino.

See Full Story at Boston.com

 

Mark Arsenault can be reached at Mark.Arsenault@globe.com. Follow him on Twitter @bostonglobemark

 


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