Boston mayor announces deal with Mohegan Sun - NEWS10 ABC: Albany, New York News, Weather, Sports

Boston mayor announces deal with Mohegan Sun

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By Associated Press

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.

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.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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