Mohegan Sun reached a $300 million deal with the city of Boston on Friday to strike a surrounding community agreement for the proposed casino in nearby Revere, according to the Boston mayor’s office.
The deal executed between Mohegan executives and Mayor Martin Walsh calls for the casino to invest $45 million in transportation improvements, $30 million for local capital projects in East Boston, and $18 million annual to mitigate the community impact of the development.
Mohegan is vying for the sole Greater Boston casino license from the Massachusetts Gaming Commission. The Connecticut-based casino group is competing against a proposal by Wynn for a casino in Everett and grassroots efforts to undo the gambling law in the upcoming November election.
The Revere casino would be the fourth property operated by the Mohegan Tribe’s gaming company. The firms owns casino resorts in Uncasville and Pennsylvania, and it operates and has a minority stake in an Atlantic City casino.