BOSTON (AP) -
Boston Mayor Marty Walsh says he's reached a financial compensation agreement with Mohegan Sun as the casino proposes a $1.3 billion casino at the Suffolk Downs horse racing track in neighboring Revere.
The deal finalized Thursday would have the Connecticut-based casino company pay the city at least $18 million annually once a resort opens. The deal is contingent on Mohegan Sun winning the state gambling license for the Boston region.
“We have guarantees down the road of potential expansions, a vote for East Boston. And also we have, I think one of the biggest things, is being able to control the future of Suffolk Downs,” Walsh said.
Walsh said the Mohegan Sun deal provides an estimated $300 million in investments in Boston over a 15-year period.
Wynn Resorts is also competing for the license with a $1.6 billion casino on a former industrial site in Everett, also near the Boston city line.
Wynn and the city have been unable to reach a deal and will go before a neutral arbitrator.