{"id":15918,"date":"2013-12-29T05:30:49","date_gmt":"2013-12-29T05:30:49","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=15918"},"modified":"2013-12-25T21:05:04","modified_gmt":"2013-12-25T21:05:04","slug":"revere-and-mohegan-sun-strike-casino-deal-in-massachusetts","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/revere-and-mohegan-sun-strike-casino-deal-in-massachusetts\/","title":{"rendered":"Revere and Mohegan Sun Strike Casino Deal in Massachusetts"},"content":{"rendered":"
\"Revere
The city of Revere, Massachusetts could benefit financially if Mohegan Sun’s casino ever becomes a reality<\/figcaption><\/figure>\n

There\u2019s no guarantee that Suffolk Downs and the Mohegan Sun will be able to build a casino in the city of Revere, Massachusetts. In fact, the whole project still seems like a long shot to just about everyone who isn\u2019t directly involved in promoting it. But should the city and the companies involved beat the odds, they\u2019ll be exchanging a whole lot of money in the years to come.<\/p>\n

Pay to Play<\/h2>\n

Mohegan Sun came to an agreement with the city of Revere that will see the casino firm pay the city $33 million up front, in exchange for allowing them to operate a casino at the Suffolk Downs racetrack; the billion-dollar project would feature\u00a04,000 slot machines, 100 game tables, and a poker room . That would only be the first of many payments, however, as the casino would continue making annual payments to the city starting at a minimum of about $25 million to $30 million.<\/p>\n

\u201cThis agreement is an extraordinary deal that will help us continue to make the transformation of Revere a reality,\u201d said Mayor Daniel Rizzo.<\/p>\n

The deal reflects the fact that Mohegan Sun would be the only operator under the current proposal for a casino on land owned by the race track. Suffolk Downs would serve simply as a landlord, rather than running the facility.<\/p>\n

If you\u2019ve been paying attention to the ongoing saga of the Suffolk Downs casino<\/a>, you know that this is the second attempt to build a casino attached to the race track. The first attempt, which would have built a casino on the East Boston side of the line between Boston and Revere, was rejected by East Boston voters, even as Revere voters approved it.<\/p>\n

That proposal would have been much less lucrative for Revere<\/a>, which wouldn\u2019t have hosted any of the major buildings attached to the facility. Under that host agreement, Revere was expected to receive a minimum of $9 million each year.<\/p>\n

Revere Could Make Bank<\/h2>\n

Now, the city can expect to make at least three times that amount. In addition, Rizzo said that the host agreement language \u2013 which is expected to be made public soon \u2013 could allow the city to receive even higher payments if the casino manages to become extremely profitable.<\/p>\n

The money raised through the payments would be used to provide tax relief for property owners in Revere, as well as to improve services and facilities throughout the city. Mohegan Sun pointed to these and other economic benefits \u2013 such as the thousands of jobs that could be created \u2013 as reasons why the deal would be a good one for the city.<\/p>\n

\u201cWe\u2019re going to drive a tremendous amount of prosperity for this city and lead to a huge upswing in the economic situation around here,\u201d said Mohegan Tribal Gaming Authority chief executive Mitchell Etess.<\/p>\n

But despite the messaging, there are those who plan to organize in opposition to the Revere proposal. While Boston\u2019s Mayor-Elect Martin J. Walsh says that he\u2019s unsure if Boston has a legal right to stop the casino move \u2013 and that he would like to negotiate a surrounding community agreement with the casino developers \u2013 members of anti-casino group No Eastie Casino plan to work with those in Revere who oppose the casino to defeat the coming referendum. They\u2019ll be joined by a group from Palmer \u2013 where Mohegan Sun has already lost a casino vote \u2013 that claims that the casino firm purposely lost the referendum there so that it could then try again in the more lucrative Greater Boston area.<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s no guarantee that Suffolk Downs and the Mohegan Sun will be able to build a casino in the city of Revere, Massachusetts. In fact, the whole project still seems like a long shot to just about everyone who isn\u2019t directly involved in promoting it. But should the city and the companies involved beat the […]<\/p>\n","protected":false},"author":42,"featured_media":15924,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"\nRevere and Mohegan Sun Strike Casino Deal in Massachusetts<\/title>\n<meta name=\"description\" content=\"The city of Revere, Massachusetts is negotiating a big-bucks deal with the Mohegan Sun, should that casino project see the light of day.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revere and Mohegan Sun Strike Casino Deal in Massachusetts\" \/>\n<meta property=\"og:description\" content=\"The city of Revere, Massachusetts is negotiating a big-bucks deal with the Mohegan Sun, should that casino project see 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