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The board of selectmen Saturday unanimously backed a development agreement that brings the town another step closer to possibly hosting the state's third casino.

The agreement with the operators of Foxwoods and Mohegan Sun gives East Windsor a leg up on Windsor Locks, which also is competing for what could be state's first casino off a Native American reservation.

First Selectman Robert Maynard told a crowd of more than 100 residents gathered at the town's high school that the casino in a long-vacant movie theater off I-91 would kickstart economic development efforts and also preserve state revenue and jobs tied the state's gambling industry.

"It's an opportunity for East Windsor to take a step in a different direction," Selectman Jason Bowsza added.

The Hartford-area casino is part of a strategy intended to blunt the competitive threat of a $950 million casino and entertainment complex now under construction in nearby Springfield by MGM Resorts International. The complex is scheduled to open in fall, 2018.

Maynard said the agreement approved on Saturday came together at noon on Friday. He said he called the special meeting because the state's two casino operators — the Mashantucket Pequots and Mohegans — now need to move swiftly to bring a location to the state legislature, as they seek approval for an expansion of casino gambling off reservation lands.

Last week, the tribes, which formed the MMCT Venture partnership for the third casino, told state legislators they were "just days" from announcing a location.

Local approval was a key requirement for the towns competing for the casino. Windsor Locks is still in the running, with a dormant tobacco field near Bradley International Airport as a site. But Windsor Locks has pledged to hold a townwide referendum, while East Windsor just needed the board of selectmen's vote.

"Listening to and speaking with each of the communities has been a top priority for both tribes," Andrew Doba, an MMCT spokesman, said Saturday. "That's why we held community forums, and that's why today's vote is so gratifying."

Doba said the final site would be announced "in the coming days."

The development agreement with East Windsor includes a $3 million payment at least 15 months before the casino opens, plus $3 million a year on top of annual property taxes, which together could bring in $5.5 million in the first years of operation.

There also is a guarantee that at least 4 percent of the 1,700 jobs at the new casino would go to East Windsor residents and at least 15 percent to residents within 25 miles. The tribes also agreed to buy $1 million in goods and services from local businesses.

But the agreement was not an easy sell Saturday, with more than two dozen residents speaking at a public hearing. Some called for a referendum that would be a more accurate gauge of town support.

Others, like Brianna Stronk, said they were concerned about how a casino might change the rural nature of the town and whether it might affect property values. She also worried about a possible increase in crime.

"Anything that presents itself as too good to be true often is," Stronk said. "All we're being presented with is dollar signs and jobs. I'm worried about our children's future and property values. It's not a risk I'm willing to take."

Resident John Simonelli said the casino carries a risk, but also is an opportunity the town should not pass up.

"For the last 10 years this town has been stuck in neutral," Simonelli said. "We're not advancing the town and the town's quality of life. ... I think the benefits outweigh the risks."

Under the development agreement, the old Showcase Cinemas would be transformed into a 200,000 square foot casino, half devoted to a gaming floor and half to restaurants, retail and entertainment. Gaming would include 2,000 slot machines and 50 to 150 tables.

State lawmakers in 2015 gave the tribes approval to look for a third location, but that is being challenged in the courts by MGM, which argues that more potential casino operators should have been given a chance to participate. MGM is expected to go to court over the expansion of casino gambling off reservation lands should it pass the Connecticut legislature this session.

And even as MMCT selects a site, there is a push for the state to seek more proposals and compare them with what is envisioned by MMCT.

In a release Saturday, MGM continued to hammer away at the third casino, characterizing the East Windsor agreement as "terrible" for the town and the state. The agreement benefits, MGM said, are meager compared to what the Mohegans offered when they pursued a casino in Massachusetts.