A well-heeled New York City developer – formerly Donald Trump’s partner and best friend – has acquired a significant interest in Suffolk Downs Racetrack today, according to the track.
Richard Fields, president of Coastal Development, now is the largest shareholder in Sterling Suffolk Racecourse, as it’s officially known. With that controlling interest, he brings some bold new ideas, including a resort.
“Over the next few months, our team will be pursuing a master plan that allows us to integrate the horseracing that has long defined Suffolk Downs with a world-class facility for everyone who visits our site,” said Fields in a press release sent to the Journal from his Manhattan publicist. “I am excited about bringing our experience and passion for the sport of racing at Suffolk Downs.”
The release said that fields intends to look at including a full range of resort activities to the Suffolk Downs master plan, including retail, restaurants, live entertainment, family activities, and other high-end resort amenities.
Fields successfully co-developed the Seminole Hard Rock Casino in Tampa and Hollywood, Florida in 2004. This year, he and a group of partners (including George Steinbrenner’s successor) won a controversial and contested bid to operate all of New York’s horse racing tracks.
The other remaining minority partners in Suffolk Downs are Joe O’Donnell, Vornado Realty Trust, and Hall Properties.
Fields was born in the Bronx.
Look for more details in Wednesday’s Journal.
