Suffolk Downs Steps Up to Plate

With the swift writing of a giant check, Suffolk Downs has entered the legitimate realm of possibility when it comes to turning the track into a full fledged casino. This happened last week when Suffolk Downs President Chip Tuttle wrote out a $400,000 check for the Gaming Commission and delivered it.

That $400,000, which is non-refundable, is the first gambit in the effort by Suffolk Downs to secure a license for a full casino on the sprawling 155 acre site located here and in East Boston.

Suffolk Downs filed an official letter of intent as well as handing over the check to get the ball officially rolling.

As a result, Suffolk Downs development officials are allowed to solicit the interest of state agencies to begin planning for the reality of what is likely to follow.

Suffolk Downs is now able to speak about traffic mitigation plans with officials of the state Highway and Transportation Departments.

In addition, it is believed that the Gambling Commission is showing a bit more resolve to get something done sooner rather than later by accepting initial letters of intent.

Suffolk Downs is planning a $1 billion facility at the horse track and the horse track will remain running as a requirement of the legislation allowing casino gambling.

1 comment for “Suffolk Downs Steps Up to Plate

  1. Celeste Myers
    August 16, 2012 at 12:09 pm

    This first step – is required of all interested developers as a means to assess financial viability before putting potential host communities through an arduous process that may ultimately be fruitless due to lack of financial stability over the long term.  

    With the Caesar’s organization – they are shouldering a $20bil debt, the bulk of  which is coming due in 2015.  They are seeking liquid revenues at every turn including liquidation of assets and litigating to alleviate tax burdens as has happened in Atlantic City and Saint Louis. 

    Recently – their credit rating has been downgraded  and their stock has dropped by 42 percent. So, assuming the process works as it should, this initial step – may very well be the last.  

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