The report from Zuniga also shed light on the financial relationship between Mohegan Sun and Suffolk Downs. Suffolk Downs had initially planned to operate its own casino operation at the track, but when East Boston residents voted the proposal down the track invited Mohegan Sun to lease a portion of the track in Revere for a casino. Suffolk Downs and Mohegan Sun have described themselves as landlord and tenant, but Zuniga portrayed the relationship as a lease-partnership. According to documents presented by Zuniga, Suffolk Downs would receive rent payments of about $35 million a year that could rise to between $75 million and $85 million a year based on the gross revenues of the casino operation. Zuniga also said Suffolk Downs had put up $70 million in equity in the casino and stands to receive more than 5 percent of any distributions to the owners of the facility. Is anyone else as angry about this as I am? The whole article is here: commonwealthmagazine.org/News-and-Features/Online-exclusives/2014/Summer/067-Gaming-commission-9814.aspx#.VA7yq8Ya-_O
Posted on: Tue, 09 Sep 2014 12:35:43 +0000
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