Suffolk Downs has formally declared its intent to compete for one of Massachusetts' commercial gaming licenses. The East Boston racetrack announced Aug. 10 it had submitted the required non-refundable $400,000 fee with the Massachusetts Gaming Commission.
"We begin this formal part of earning a license to develop a world-class destination resort at our 77-year-old racetrack with great enthusiasm and with the understanding that our project must set the standard for gaming development in Massachusetts," said Richard Fields, Suffolk Downs' principal owner. "With our partner, Caesars Entertainment, we are committed to a proposal that will create more jobs, tourism benefits and local economic development than any other project in the state."
The track had presented plans in June for a $1 billion Caesars-branded resort that will include a hotel, restaurants, retail shops, and a multi-use venue in addition to the casino complex. Improvements to the 163-acre site also include plans to improve the track's racing facilities.
"We understand that to earn this license the onus is on us to not only capture revenue currently being lost to neighboring states but to drive visitors to the area, to create thousands of new jobs and to develop long-term partnerships with local businesses and cultural institutions," said Chip Tuttle, Suffolk Downs' chief operating officer.