Mohegan Sun would make at least $300 million in direct payments to the city of Boston over a 15-year period under a "surrounding community" agreement the parties signed Thursday in connection with Mohegan Sun's plan for a $1.3 billion resort casino in Revere, Mass.
The agreement would also provide significant funding for capital projects and transportation improvements and ensure that "every measurable impact" of the Revere project on the Boston neighborhood of East Boston would be mitigated, Mohegan Sun said in a statement.
"We are very happy to say today that we have a deal with the City of Boston," said Kevin Brown, the Mohegan chairman. "The Mohegan Tribe has a long history of being good neighbors in New England. And the approach we have taken to this agreement -- and all of our surrounding community agreements -- is reflective of that history."
The agreement calls for Mohegan Sun Massachusetts to pay Boston a minimum of $18 million annually, with shares of gross gaming revenue escalating over time to $22.5 million or more. The city would also receive $30 million over 10 years for capital improvements in East Boston and benefit from Mohegan Sun's $45 million transportation plan.
Mohegan Sun now has agreements in place with all of its host and surrounding communities.
Mohegan Sun is competing for the sole Greater Boston casino license with Wynn Resorts' plan to develop a $1.6 billion project in Everett.Copyright © 2015, CT Now