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SOURCE Mohegan Sun
Proposed resort casino in Revere is a $1.3 billion project
Construction start-to-finish would take 30 months
REVERE, Mass., Dec. 31, 2013 /PRNewswire/ -- Mohegan Sun today submitted its final application to the Massachusetts Gaming Commission for the Commonwealth's Region 1 license – proposing a destination resort casino on land owned by Suffolk Downs in Revere with a total project investment of $1.3 billion.
The 42-acre resort casino project would be developed by Mohegan Sun through a 99-year ground lease with Suffolk Downs. Construction would be completed in about 30 months upon licensing.
"Our application reflects our vision for Massachusetts while addressing the priorities established by the Gaming Commission," said Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority. "Mohegan Sun will create something very special in Revere: a wonderful gaming and entertainment destination that drives tourism and delivers thousands of jobs."
Mohegan Sun delivered two copies of the application to the Gaming Commission contained in 15 boxes. Each copy of the application is comprised of 16,034 pages of documents.
Mohegan Sun Massachusetts will feature over 170,000 square feet of floor space and 5,000 gaming positions, including 4,000 slot machines, 100 table games such as blackjack, baccarat, roulette and craps, and 20 poker tables. Hotel facilities include a main casino hotel and a boutique hotel that together total 500 rooms and reflect the breadth of the overall resort entertainment experience.
The Shops at Mohegan Sun Massachusetts will feature world-class retail, casual and fine dining and entertainment options created by Boston-based developers New England Development and Finard Properties.
"We know the New England market better than any other gaming operator. It's our home," Etess said. "And we know the team we've assembled with New England Development and Finard will create memorable shopping, dining and entertainment experiences that will complement our gaming and hotel facilities and draw visitors to Revere and this region."
Other Mohegan Sun Massachusetts highlights:
Mohegan Sun Massachusetts will produce an estimated $1.64 billion in municipal and state tax revenues in the first five years of operation, and $1 billion in total economic output during project development. The resort casino is also expected to have an annual economic impact of $428.9 million from operational and third-party expenditures, while producing $53 million in annual economic impacts from ancillary, off-resort spending. Improvements to regional transportation infrastructure will total $45 million.
"I'm incredibly thankful for all the hard work that has gone into our application to the Gaming Commission, and proud to be part of this historic partnership with Suffolk Downs," said Kevin Brown, Chairman of the Mohegan Tribe and the Mohegan Tribal Gaming Authority. "We hope to make Mohegan Sun Massachusetts the signature project of the Massachusetts gaming industry."
Pre-opening payments to the City of Revere will total up to $33 million, with annual guaranteed minimum community impact payments escalating from $25 million in Year 1 of operations to $30 million in Year 7.
Suffolk Downs ownership has invested over $50 million to preserve jobs and keep the track operating since 2007. A study released in October reported that Thoroughbred racing in Massachusetts supports over 1,400 jobs and more than 6,000 acres of working farmland in Massachusetts.
"Gaming development by Mohegan Sun on the Revere portion of our property gives horse racing its best chance to succeed here," said Chip Tuttle, Chief Operating Officer of Suffolk Downs. "We are committed to racing for years to come should Mohegan Sun earn this license."
About Mohegan Sun:
Owned by the Mohegan Tribal Gaming Authority, Mohegan Sun is one of the largest, most distinctive and spectacular entertainment, gaming, shopping and dining destinations in the United States. Situated on 185 acres along the Thames River in scenic southeastern Connecticut, Mohegan Sun is within easy access of New York, Boston, Hartford and Providence and located 15 minutes from the museums, antique shops and waterfront of Mystic Country. More information is available by calling 1.888.226.7711 or visiting mohegansun.com Connect with us on Facebook, follow us on Twitter, like on Pinterest and view us on YouTube.
About Suffolk Downs:
Founded in 1935, Suffolk Downs has been a gaming and entertainment venue in the city of Boston for over 78 years. It is New England's only remaining active Thoroughbred racetrack. Rich in history, Suffolk Downs has hosted Hall of Fame horses Seabiscuit, Whirlaway and Cigar, and has been the site of performances by world-renowned entertainers, including the Beatles and Aerosmith. For more information, please visit www.suffolkdowns.com.
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