Sterling Suffolk Racecourse Seeks Approval for $1 Billion Casino in East Boston
- Sep 09, 2013
By Veronica Grecu, Associate Editor
Suffolk Downs, the resort-style property located at 525 McClellan Highway in the Suffolk Downs Economic Development Area in East Boston, could be transformed into a $1 billion gambling establishment according to the Letter of Intent that was filed last week with the Boston Redevelopment Authority (BRA).
According to The Boston Globe, the property’s owners and developers, Sterling Suffolk Racecourse, LLC, hope to obtain a preliminary approval for the project during Mayor Tomas Menino’s pro-casino administration, which will end on November 5.
Estimated to generate around $52 million in annual revenue for the city and more than $33 million in upfront payments, the proposed project will create 4,000 permanent jobs, CBS Boston reports. The Suffolk Downs massive redevelopment is seen as a direct competitor to Wynn Resorts—which has similar plans to build a $1.2 billion gaming resort on the banks of the Mystic River in Everett and win the only state gambling license available in the Greater Boston area.
Sterling Suffolk Racecourse’s proposal includes 150,000 to 250,000 square feet of gaming space with up to 6,600 gaming spaces in a combination of slot machines and table games, as well as a World Series of Poker rooms. The project plans also call for two luxury hotels offering 450 rooms, 10 to 17 restaurants and a food court, up to 30,000 square feet of retail space, a seven-story parking garage with 2,600 spaces and an additional valet parking area for up to 460 vehicles, and a central utility plant.
Renderings via Suffolk Downs