BOSTON (MyFoxBoston.com) -- Boston Mayor Marty Walsh announced Thursday that Boston has struck a "surrounding community" deal with casino company Mohegan Sun.
The deal will provide a projected $300 million in investments in Boston over 15 years, the mayor's office stated in the announcement.
Mohegan Sun has proposed building a casino in Revere. They are competing with Wynn Resorts, who has proposed building a $1.6 billion casino in Everett, for the state's Region A casino license, the only license in eastern Massachusetts.
The terms of the agreement state that Mohegan Sun will invest $45 million in transportation improvements in Boston and the area surrounding the casino site. Boston will reportedly receive $30 million over 10 years for local projects in East Boston, and will receive a minimum of $18 million annually to mitigate the community impact of the casino development.
In May, the Massachusetts Gaming Commission ruled that Boston could not be considered a "host community" for either casino project. Wynn and the city have been unable to reach a surrounding community deal and will go before a neutral arbitrator.