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Massachusetts Gambling News Brief

Developer Becomes Largest Shareholder in Suffolk Downs

Fox 25 News,  Tuesday, April 3, 2007 at 8:30:22 AM

Casino and resort developer Richard Fields, who is among those bidding to operate three premier New York horse racing tracks, has become the largest shareholder in Suffolk Downs.

Fields and his company, Coastal Development Massachusetts, finalized the deal Monday with Sterling Suffolk Racecourse LLC, the current track operator, whose principal is concession stand food magnate Joe O'Donnell.

In recent years, business has fallen off at Suffolk Downs, and operators and employees have claimed the track must add slot machines to remain viable. Declining revenues forced the thoroughbred track to cancel its annual feature race, the Massachusetts Handicap, the last two years.

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