Report: Magna Ends Pursuit of Suffolk Downs Lease

Following almost two years of on-again, off-again negotiations, Magna Entertainment has pulled out of negotiations to lease Suffolk Downs, the Boston Herald reported Oct. 15.

Frank Stronach's conglomerate had hoped to add the East Boston track to its burgeoning list of racetracks and properties, but now may turn its attention back to finalizing deals to purchase Lone Star Park in Texas and the two Maryland Jockey Club tracks.

Stronach's hope in leasing Suffolk Downs was to corner the Northeast market for his company's account wagering component, XpressBet. In addition, the Massachusetts legislature has begun to warm to the idea of casino gambling or racetrack slot machines.