And the COST OF INFRASTRUCTURE IMPROVEMENTS will only cost......?
And no one asks.......
Revere Casino: 42 Acres of Money-Printing, Apparently
[Via The Boston Globe]
Above is a rendering, shooting star included, of the would-be casino at Suffolk Downs, the one to be built entirely within Revere now that Eastie has washed its hands of the affair.
The casino-resort, to be built by gaming kingpins Mohegan Sun and subject to another vote in February as well as a state O.K., would unfold over approximately 42 acres and would include about 4,000 slot machines, 100 game tables and a poker room.
And! As far as Revere's winnings, the city would get $33 million upfront from Mohegan Sun, according to a newly released host agreement; and a minimum payment of $25 million each of the casino-resort's first three years. If, however, the gambling den really cleans up, Revere could get that much more. As The Globe's Mark Arsenault put it: "In other words, if the casino topped $850 million in gambling revenue by just one dollar in any of its first three years, the city's payment would increase by more than $1 million." It's a can't lose, right?
Meanwhile, neighboring Boston is withholding judgment upon the Revere casino until Mayor-elect Marty Walsh takes office next month. Stay tuned.
· Revere's Cut for Suffolk Downs Casino Might Grow [Globe]
· Revere Trumps Boston in New Deal [Herald]
· Our complete casinos coverage [Curbed Boston]
http://boston.curbed.com/archives/2013/12/httpwwwbostonglobecommetro20131225reverecutforsuffolkdownscasinomightgrowm4yg51oduwsey8e5qe0kxistory.php
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