Update, 2:34 p.m. ET, Aug. 27: Boston would get “at least $32 million annually if Suffolk Downs casino is built,” according to The Boston Globe. Under the pact, East Boston would also receive a $33 million upfront payment.
If Suffolk Downs gets a casino, the City of Boston could cash in big time.
Mayor Thomas Menino and the Suffolk Downs race track in East Boston have reached a deal that would pay the city millions annually if a casino is built, according to the Boston Herald.
A “host community agreement” is required by any city or town interested in building a casino before a gambling license is issued.
“It is the city’s hope that this moves as quickly as it can,” Menino spokeswoman Dot Joyce told the Herald on Tuesday. “The mayor is committed to getting the best deal possible for the city.”
The mayor has called a press conference for 2:30 p.m. on Tuesday afternoon, where an official announcement could be made. The report also indicates that the deal will be the most lucrative in the state. Other cities such as Everett and Springfield are also hoping to build casinos in the Commonwealth.
