Suffolk Downs Chooses Mohegan Sun As Partner For Resort Casino in Revere
Agreement paves way for development of world-class facility
(REVERE – November 27, 2013) – Suffolk Downs announced today it has reached agreement with Mohegan Sun to be its development partner and gaming operator for a world-class resort casino on 42 acres of the track’s 52 acres in Revere, Massachusetts. The deal brings New England’s premier gaming brand – and one of the world’s most successful casino companies – together with historic Suffolk Downs to create a world-class destination that will create thousands of jobs, new opportunities for small business and economic development for the entire region.
“This is a historic day for the City of Revere, Suffolk Downs and all of New England,” said Richard Fields, principal owner of Suffolk Downs. “By choosing Mohegan Sun as our resort casino developer and operator, we bring new energy and excitement to our pursuit of a gaming license – and a leader and premier brand in resort casino gaming that has been hugely successful in New England for 17 years.”
The Mohegan Tribal Gaming Authority operates Mohegan Sun in Uncasville, CT; Mohegan Sun at Pocono Downs in Wilkes-Barre, PA; and the Resorts Casino Hotel in Atlantic City, NJ. Mohegan Sun in Connecticut is one of the world’s most successful casinos, with more than $900 million in annual gaming revenue.
“Mohegan Sun and Suffolk Downs each began our pursuit of a place in the Massachusetts gaming industry in different ways and different locations. Circumstances brought us together in recent days, and we immediately recognized that something truly special can be created in Revere,” said Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority. “This agreement represents an opportunity to develop an incredible destination that will make the City of Revere proud as a host community, that will benefit the entire region with new jobs and economic development, and that will become the signature project for Massachusetts in the resort gaming industry.”
Mohegan Sun has one of the strongest financial platforms of any Massachusetts gaming license applicant through its strategic partnership with Brigade Capital Management – a $15 billion investment advisor with extensive experience investing in the gaming industry. The Massachusetts Gaming Commission has already found Mohegan Sun and Brigade, as well as Suffolk Downs, suitable as potential license holders in the Commonwealth.
“Mohegan Sun’s premier gaming brand has been hugely successful for 17 years with guests from around New England and the entire Northeast,” said Don Morgan, the Managing Member of Brigade Capital Management. “This resort casino in Revere will become the signature project of the Massachusetts gaming industry.”
In addition, Mohegan Sun brings to the project a tremendous marketing advantage through its database of loyal guests who visit its resort casinos in Connecticut, Pennsylvania and Atlantic City. By leveraging that marketing database, Mohegan Sun can begin engaging customers immediately on the resort casino project in Revere.
“We’re the best in the industry at delivering a resort gaming experience that drives repeat visitors from New England and the entire Northeast,” said Kevin Brown, Chairman of the Mohegan Tribal Gaming Authority and Mohegan Tribal Council.. “And with Suffolk Downs, we’re the home team – because New England is our home. The destination we create in Revere will be unique to the area and a great enhancement to the many world-class attractions in this region.”
Mohegan Sun and Suffolk Downs are already underway in creating the design elements, gaming program, entertainment and other amenities that will be featured in their resort casino project in Revere.
As part of the agreement, Mohegan Sun will honor all commitments made by Suffolk Downs in its Host Community Agreement with the City of Revere - which is currently being amended to reflect the new proposal - and will immediately work together with Suffolk Downs in the process already underway of reaching surrounding community agreements.
Benefits of the amended Host Community Agreement will include millions of dollars in estimated annual payments to Revere once the resort is fully operational - determined in part by the resort’s performance. In addition to the annual payments, the agreement will include significant one-time community investments, including capital commitments related to municipal projects and millions in transportation and infrastructure improvements. In addition, the project will create 2,500 construction jobs and 4,000 permanent jobs, with a preference given to Revere residents
“Our strong partnership with Revere goes back over seven decades and today’s announcement begins a new exciting chapter,” said Chip Tuttle, Chief Operating Officer of Suffolk Downs. “When completed, our agreement will reflect this community's desire for economic development, jobs, community improvements, and small business partnerships that this development proposal will bring. On November 5th, Revere residents voted overwhelmingly in favor of bringing world class destination resort gaming to their community and today's news brings us another step closer to that goal."
Suffolk Downs and Mohegan Sun share a long-standing commitment to working with local businesses, community leaders and cultural and tourist organizations. Currently, Mohegan Sun spends nearly $500 million annually on goods and services from local vendors near its Connecticut and Pennsylvania facilities. Mohegan Sun is one of Connecticut’s five largest employers and has a strong track record of hiring and training local employees – more than 90 percent of its employees live locally.
Suffolk Downs has made partnering with local businesses a key part of its plans to develop a resort destination at its property. In Massachusetts, Mohegan Sun has already begun enrolling businesses in its “Massachusetts Player’s Club Card” program – a program that supports local businesses and enables guests that earn Player Points to redeem them at local establishments.
Mohegan Sun jobs support families and households, with the opportunity for career growth and advancement in areas such as gaming operations, hospitality, marketing and promotions, transportation, engineering, human resources, accounting and finance.
About Suffolk Downs:
Founded in 1935, Suffolk Downs has been a gaming and entertainment venue in the city of Boston for over 78 years. It is New England’s only remaining active Thoroughbred racetrack. Rich in history, Suffolk Downs has hosted Hall of Fame horses Seabiscuit, Whirlaway and Cigar, and has been the site of performances by world-renowned entertainers, including the Beatles and Aerosmith. For more information, please visit www.suffolkdowns.com.
About Mohegan Sun:
Owned by the Mohegan Tribal Gaming Authority, Mohegan Sun is one of the largest, most distinctive and spectacular entertainment, gaming, shopping and dining destinations in the United States. Situated on 185 acres along the Thames River in scenic southeastern Connecticut, Mohegan Sun is within easy access of New York, Boston, Hartford and Providence and located 15 minutes from the museums, antique shops and waterfront of Mystic Country. More information is available by calling 1.888.226.7711 or visiting mohegansun.com Connect with us on Facebook, follow us on Twitter, like on Pinterest and view us on YouTube.