BOSTON (AP) -- Mohegan Sun says it has reached a financial compensation deal with the city of Everett as it seeks to build a resort casino in nearby Revere.
The Connecticut-based company said in a statement Wednesday that the "surrounding community" agreement would provide Everett $575,000 annually if gambling regulators award Mohegan Sun the sole casino license in the state's eastern region.
Mohegan Sun proposes a more than $1 billion casino on the Revere side of the Suffolk Downs horse racing track. Wynn Resorts proposes a $1.6 billion casino in Everett on a former chemical plant along the Mystic River.
Everett's deal with Mohegan Sun also calls for "cross marketing opportunities" with the casino and tourist attractions and cultural institutions in Everett and for the casino to finance a $300,000 traffic study.