lexicon506
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There's been a lot of talk of casinos in Mass lately. Of course I'm for a revival of the racetrack...the more world-class events Boston attracts, the better the city becomes. Hopefully this will pump some life into that area, although I'm not sure I would welcome a Mohegan Sun-esque casino within the city limits.
MassCap?s back to put track in casino race
By Scott Van Voorhis/ Exclusive
Boston Herald Business Reporter
Wednesday, May 23, 2007 - Updated: 10:55 AM EST
Suffolk Downs new lead owner, Richard Fields, pledged to spend big to revive the battered Eastie track when he bought a controlling stake earlier this year.
Now the New York-based casino developer and horse racing enthusiast is making good with plans to bring back Suffolk?s showcase event, the historic MassCap.
In a move that is already generating buzz in racing circles, Fields and his fellow track owners are weighing plans to spend well over $1 million on the event - an unprecedented number for a struggling racetrack, executives familar with the plans said.
But there is more at work here than an attempt to save an old racetrack.
Fields decision to revive the MassCap is a downpayment on a much larger gamble.
The decision to bring back the MassCap is the first major public relations salvo in what is likely to be a long campaign to win state permission to turn Suffolk into Boston?s answer to Mohegan Sun and Foxwoods, insiders say. They call it part of a shrewd strategy to curry favor on Beacon Hill, where Fields hopes to win support to build a casino alongside the track.
Investing in the track will send the message to lawmakers that ?we will be an industry worth saving,? said Louis Ciarlone, the track?s union chief. ?We have gone from cautiously optimistic to very excited about the future.?
Under the previous regime, Suffolk tried to bludgeon state lawmakers into legalizing slot machines, with veiled threats to close and throw thousands of employees out of work.
Let just say it wasn?t a winning ticket.
The new approach, insiders say, is more soft sell, with the case being made that Suffolk, the state?s flagship racetrack, is worth saving.
The MassCap was Suffolk?s signature race, dating to when the track opened in 1935. The event long attracted some of the best horses in the country, from the legendary Seabiscuit, who raced before 40,000 in 1937, to Cigar, another champion, in the mid-1990s.The track, struggling to stay open, canceled the MassCap during the last two seasons.
Fields confirmed his decision to revive the MassCap - even as he sidestepped the more controversial casino question.
?Bringing back the historic MassCap is just one component of our extensive plan to return racing to greatness at Suffolk Downs,? Fields said in a statement.
He and fellow owners, who include Hub concessionnaire Joseph O?Donnell, are now busy hammering out the details of their plan to bring back the MassCap, most likely in September.
While a final number is still being hammered out, the owners are looking at spending hundreds of thousands on prize money, and hundreds of thousands more on bonuses to attract top horses.
There are also plans for concerts and other attractions around the time of the race to drive interest.
Fields made a fortune developing a casino for the Seminole Tribe in Florida. Now he?s prepared to spend another in hopes of making an even larger one in the Bay State.
MassCap?s back to put track in casino race
By Scott Van Voorhis/ Exclusive
Boston Herald Business Reporter
Wednesday, May 23, 2007 - Updated: 10:55 AM EST
Suffolk Downs new lead owner, Richard Fields, pledged to spend big to revive the battered Eastie track when he bought a controlling stake earlier this year.
Now the New York-based casino developer and horse racing enthusiast is making good with plans to bring back Suffolk?s showcase event, the historic MassCap.
In a move that is already generating buzz in racing circles, Fields and his fellow track owners are weighing plans to spend well over $1 million on the event - an unprecedented number for a struggling racetrack, executives familar with the plans said.
But there is more at work here than an attempt to save an old racetrack.
Fields decision to revive the MassCap is a downpayment on a much larger gamble.
The decision to bring back the MassCap is the first major public relations salvo in what is likely to be a long campaign to win state permission to turn Suffolk into Boston?s answer to Mohegan Sun and Foxwoods, insiders say. They call it part of a shrewd strategy to curry favor on Beacon Hill, where Fields hopes to win support to build a casino alongside the track.
Investing in the track will send the message to lawmakers that ?we will be an industry worth saving,? said Louis Ciarlone, the track?s union chief. ?We have gone from cautiously optimistic to very excited about the future.?
Under the previous regime, Suffolk tried to bludgeon state lawmakers into legalizing slot machines, with veiled threats to close and throw thousands of employees out of work.
Let just say it wasn?t a winning ticket.
The new approach, insiders say, is more soft sell, with the case being made that Suffolk, the state?s flagship racetrack, is worth saving.
The MassCap was Suffolk?s signature race, dating to when the track opened in 1935. The event long attracted some of the best horses in the country, from the legendary Seabiscuit, who raced before 40,000 in 1937, to Cigar, another champion, in the mid-1990s.The track, struggling to stay open, canceled the MassCap during the last two seasons.
Fields confirmed his decision to revive the MassCap - even as he sidestepped the more controversial casino question.
?Bringing back the historic MassCap is just one component of our extensive plan to return racing to greatness at Suffolk Downs,? Fields said in a statement.
He and fellow owners, who include Hub concessionnaire Joseph O?Donnell, are now busy hammering out the details of their plan to bring back the MassCap, most likely in September.
While a final number is still being hammered out, the owners are looking at spending hundreds of thousands on prize money, and hundreds of thousands more on bonuses to attract top horses.
There are also plans for concerts and other attractions around the time of the race to drive interest.
Fields made a fortune developing a casino for the Seminole Tribe in Florida. Now he?s prepared to spend another in hopes of making an even larger one in the Bay State.
