“We are proud of Suffolk Downs` role as a neighbour of East Boston over the past 78 years, and we believe these agreements and development plans create the foundation for a future rich in opportunities for the community,” said Chip Tuttle, Chief Operating Officer of Suffolk Downs. “People have played a vital role in our process to date, providing valuable feedback at many community assemblies, and we look forward to continuing our commitment while continuing this process.” About Caesars: Caesars Entertainment Corporation is the most diverse casino entertainment company in the world. Since its inception in Reno, Nevada 75 years ago, Caesars has grown through the development of new resorts, extensions and acquisitions and now operates casinos on four continents. The company`s resorts operate mainly under the brand names Caesars® Harrah`s® and Horseshoe®. Caesars also owns the World Series of Poker® and the Family of International Casinos at London Clubs. Caesars focuses on loyalty and value with its customers through a unique combination of exceptional services, excellent products, unparalleled distribution, operational excellence and technological leadership. We advocate for environmental sustainability and energy savings and recognize the importance of being environmentally responsible. For more information, see www.caesars.com. “We have a tremendous opportunity to develop a Boston-based resort that complements the vibrant offering of cultural, historical and entertainment offerings that exist here,” said Gary Loveman, President, President and CEO of Caesars. “Boston is ideal for our urban station model, which reflects the different characteristics of host communities and must have maximum economic impact for residents and businesses. Our proposal aims to push tourism in the region and introduce our customers throughout the Boston area. The creation of 2,500 construction jobs and 4,000 permanent jobs, with a preference for residents; $45 million for transportation and roadway improvements in East Boston and Revere; Annual expenditures from regional and local suppliers of goods and services; Investments in East Boston, including a new business improvement district, the construction of a new youth and senior centre and investments in local parks and schools.
As part of the Boston agreement, developers have made upstream and ongoing financial commitments to each community. These commitments include combined annual payments of $52 million to Boston as soon as the station is fully operational. The amount of payments is determined in part by the station`s performance and includes expected impact costs as well as tax payments. In addition to annual payments, the agreements include more than $33 million for exceptional community investments, including capital commitments in education, parks, public health, the arts, public safety and more than $45 million for transportation and infrastructure improvements. Please note that the Commission`s minutes require the Region C applicant to send a copy of his RFA-2 application to municipalities bordering the host community geographically. The Expanded Gaming Act requires candidates for a gambling licence “to submit to the Commission an agreement signed between the host community and the applicant, which specifies the conditions of a gaming facility within the host community; However, provided that the agreement includes a community levy for the host community and all provisions relating to responsibilities between the host community and the applicant, including provisions relating to the known effects of the development and operation of a gambling facility.” Host communities can only hold a referendum on how the game works after an agreement on the host community has been implemented and a requester requests that the referendum be organised by the municipality.
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