Boston has reached an agreement with the owners of Suffolk Downs. It would be the most “george” deal in eastern Massachusetts. Where Foxwoods Massachusetts would pony up $18 million in advance, Caesars Entertainment and Richard Fields offer $33 million, along with $45 million in infrastructure improvements. Four thousand long-terms are promised, along with a 2,500-man construction force. Despite Suffolk Downs’ relative isolation, Gary Loveman and Fields promise $52 million in annual economic impact, part of a deal even richer than what Steve Wynn put on the table next door.
Speaking of Everett, Boston Mayor Thomas Menino still wants to be a Buttinski and prevent Wynn from even a being heard by the Massachusetts Gaming Commission. (Running scared, Your Honor?) However, he takes a considerably less liberal interpretation of the rules when it comes to Suffolk Downs. He wants only East Bostonians allowed to vote on the racino, while the rest of Boston can go jump in the Charles River. It’s an impressive pact but it would be borderline tragic if Wynn’s rival proposal were excluded from competition due to mayoral nitpicking.
Incidentally, if Boston-area resident Loveman were to have the winning bid, the company could save a lot of money by giving him a palatial office at Suffolk Downs and let him run the company from there. It would certainly would save a lot of wear and tear on the corporate jet.
