East Boston – Suffolk Downs today announced details about its plans to develop a Caesars-branded world-class resort and casino at New England’s only thoroughbred racetrack. Today’s announcement follows years of discussion and community outreach that included meetings with neighbors, community and business leaders, and an ongoing dialogue that incorporated local input.
The $1 billion development plan for the 163-acre site includes a hotel, restaurants, a casino gaming complex, retail shops, entertainment areas, luxury spa facilities and horse racing. The project includes plans to improve the track’s racing facilities and provide millions of dollars in funding to reduce longstanding transportation concerns and to make improvements on the local road network.
“The process of earning a license requires significant investment and substantial resources and we have worked with our partners at Caesars Entertainment (NASDAQ:CZR) to assemble a best-in-class team as we move toward a second phase of larger public review of our plans to create thousands of jobs and improve the local economy,” said Joe O’Donnell, principal owner of Suffolk Downs and a Cambridge, MA-based entrepreneur and philanthropist.
In the coming days and weeks, Suffolk Downs will share detailed plans about the development and transportation plans, as well as plans for broader community input on jobs and job training, opportunities for local businesses, public safety programs, regional tourism initiatives and entertainment partnerships.
“This is an economic development initiative that will set the standard for gaming development in Massachusetts and will create thousands of new jobs with real career paths and room for advancement,” said Richard Fields, principal owner of Suffolk Downs. “And it is built on a foundation of collaboration and partnership — with local residents and community groups; with local businesses; and with Boston’s entertainment, tourism and convention facilities.”
Gary Loveman, Chairman, CEO and President of Caesars Entertainment, Suffolk Downs’ gaming management partner for the development, spoke about the advantages of siting a facility in the state’s tourism capital and said he looked forward to using Caesars’ marketing expertise to grow jobs and revenues among area businesses, should Suffolk Downs be selected as a licensee.
“We are proud to join forces with Suffolk Downs to bring the Caesars brand, our management expertise, Total Rewards loyalty program and industry leading best practices to Boston as we develop this world-class destination resort together,” Loveman said. “With this project, we are together bringing another world-class attraction to a top tourist destination and are building upon our vision to develop and manage urban casino resorts that serve as engines for job creation and economic expansion in the surrounding communities,” he added.
The development concepts were released today at a press conference attended by neighbors, business groups and community leaders at Suffolk Downs. Suffolk Downs and Caesars provided details on the major economic development initiative that will:
• Generate $200 million annually in new tax revenue;
• Generate 2,500 construction and more than 4,000 resort jobs for local residents;
• Commit $40 million to improve local roads and intersections as part of an aggressive
transportation demand management program that relies on public transportation and other
alternatives;
• Spend $150 million annually for goods and services among local and regional businesses
• Partner with Boston area hotels, restaurants, entertainment venues and tourism
organizations to attract visitors and to boost the local economy
“This is an opportunity to create a fiscal and economic boost for generations to come,” Fields added, “recapturing Massachusetts discretionary spending that, for 20 years, has generated billions of dollars in tax revenues and thousands of jobs in Connecticut and Rhode Island. But with our proposal comes a commitment to create a venue that complements East Boston, Revere and surrounding communities.”
The development would include:
• A hotel (approximately 300 rooms)
• Entertainment and nightclub venues
• Up to 10 restaurants, including fine dining concepts, a buffet, food court and sports bar
• Approximately 200,000 square feet of gaming space incorporating 4,000-5,000 slot
machines, 200 table games and a World Series of Poker™ room
• Both garage and surface parking
The architectural renderings also illustrate a potential additional hotel on a future phase of development that may contain up to 150 rooms.
Suffolk Downs, operating live horse racing and entertainment at the same East Boston site for the past 77 years, has established strong working relationships with neighbors, community leaders and nearby businesses.
“While we have had a longstanding and ongoing dialogue with the local community, today
starts a new phase of that process, so that our neighbors, neighboring businesses and the broader community can have a seat at the table as these plans evolve,” said Chip Tuttle, Suffolk Downs’ Chief Operating Officer.
“One of the benefits of this development will be roadway improvements that the local community has deserved for far too long,” Tuttle said. Suffolk Downs will release detailed plans for proposed transportation and infrastructure improvements in a few days, Tuttle indicated.
The development is being designed and created by a proven team of architects, engineers and planners, including:
Elkus Manfredi Architect of Record
Suffolk Construction – General Contractor
Vanderweil Engineers – MEP,FP + Tel-Data Engineer
Vanasse Hangen Brustlin – Transportation
Seagull Consulting – Transportation
Haley & Aldrich – Geotech Engineer
Nitsch Engineering – Civil Engineer
McNamara/Salvia – Structural Engineer
Epsilon Associates – Environmental and Permitting
Walker Parking Consultants – Parking Design