Mayor Martin J. Walsh cut a casino deal with Mohegan Sun that contains lower minimums and maximums than his predecessor's — but pays Boston a higher percentage of gaming revenues up to $1 billion — but he will let the gaming panel decide what the Hub gets if Wynn Resorts' Everett bid wins the area's sole gambling license.
Walsh signed a surrounding community agreement with Mohegan yesterday that pays $30 million upfront, a minimum of $18 million in gaming revenue, and $45 million to improve Route 1A traffic and infrastructure.
"Everything that we pretty much wanted, we were able to achieve," said Walsh, who reached a separate pact with Suffolk Downs, Mohegan's landlord, to keep the track open for the life of the casino.
Mohegan CEO Mitchell Etess said the deal is "yet another clear demonstration why Mohegan Sun Massachusetts is the best choice for the commonwealth."
Walsh had said the deal would be "minus taxes, a little bit better" than Mayor Thomas Menino's defunct host pact with Suffolk Downs. Both pay Boston about the same upfront for projects in East Boston, but some terms are less favorable.
Under Menino's deal, Boston would never receive less than $32 million annually, a figure that included property taxes. Walsh agreed to an $18 million minimum, but increased the percentage Boston will get on up to $1 billion in gaming revenue.
Menino's deal paid Boston between 0.5 and 0.7 percent of gaming revenues of as high as $880 million, and 2 percent between $1 billion and $1.009 billion. Walsh's deal pays 2.09 percent of revenues between $850 million and $875 million, and the maximum 2.25 percent of revenues of $1 billion. Menino's revenue scale maxed out at $1.24 billion, of which the city would have reaped 4.4 percent.
Also yesterday, Walsh said he will not take part in arbitration with Wynn Resorts because, he said, the Las Vegas company hasn't divulged project details the city needs. Thus, Walsh said, the law calls on the commission, whose prior decisions he has slammed, to decide.
"They've made all the decisions along the way for Boston up to this point," Walsh said. "I'm going to let them make the decision."
Spokeswoman Elaine Driscoll said the commission hopes Boston will still negotiate with Wynn, but "failing that, the commission has a number of alternatives."
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