Foxwoods secures land in Fall River

New Harbour Mall

Foxwoods has secured an option of 30 acres of land in Fall River for a proposed casino.

The Herald News, citing a source, reported that the New Harbour Mall on William S. Canning Boulevard would be torn down to build the casino. The site is about a mile from the Rhode Island border.

Mayor William Flanagan said the land was in the South End, but he did not confirm the site. He said he would reveal the location next week.

"We have an opportunity to create thousands of jobs for our city and generate additional millions of dollars in revenue for our community also," Flanagan told NBC 10 on Thursday.

Foxwoods unveiled plans for a $750 million resort casino in Fall River in January. In addition to the gambling hall, it would include restaurants, a hotel, a shopping mall and more.

"Are there negatives associated with casino gaming? Yes, but I believe the positives outweigh those negatives," Flanagan said.

Flanagan also said he's not worried about Foxwoods's financial health.

"When you look at the financing structure that has been placed here in Massachusetts, it's a solid one. And Foxwoods over the last several years has brought on a whole new team of management, which has been able to correct any fiscal difficulties that they were having in the past," Flanagan said.

City residents would have to approve the project in a referendum. The developers would also have to secure the casino license for the southeastern part of the state.