08/27/2013 2:42PM

Suffolk Downs, Boston reach casino agreement


Suffolk Downs in East Boston, Mass., and its partner Caesars Entertainment have reached an agreement to provide millions of dollars in annual payments to the city of Boston if the partnership’s bid to build a casino at the track is successful, the two sides announced on Tuesday.

Under the agreement, the partnership will provide “estimated annual payments” of $52 million to Boston from its casino revenues, the announcement said. The partnership will also provide $33 million in “one-time community investments,” according to the announcement, and $45 million for “transportation and infrastructure improvements,” some of which would be spent in the community surrounding the casino.

Suffolk and Caesars have said that they plan to spend $1 billion on a casino and resort at the track if their bid is approved. The partnership is applying for the sole license that will be awarded in the Boston area. Two other bidders have also applied for the license.

The agreement would need to be approved by local voters in a referendum before Suffolk could apply to the state gambling commission for the license.