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Suffolk Downs in talks with new casino operators | Casino News …

October 30, 2013

Suffolk Downs and Caesars partnershipThe Suffolk Downs ownership group is in the process of finding a new casino operator1 after cutting ties2 with Caesars Entertainment. Just don t expect a decision to be made in time for next week s community vote in Massachusetts.

The unexpected divorce between Suffolk Downs and Caesars stemmed from several issues the Massachusetts Gaming Commission discovered during a background check on Caesars conducted by its investigators. Among the findings the investigators supposedly unearthed included New York s failed relationship with a New York hotel company subsidiary, Caesars debt of $ 24 billion3, its disputes with a high-roller over millions of dollars, and an executive s background in online gambling.

All those details apparently was enough for Suffolk Downs to get cold feet on doing business with Caesars and the former promptly informed the latter a few weeks ago that it would be severing its business deal before it went ahead with its casino application in Massachusetts4.

With no casino partner, Suffolk Downs is moving ahead in looking for a first class operator that would take the place of Caesars.

Ideally, the company is looking for an operator that has expressed interest in Massachusetts and more importantly, has a cleaner record than how the gaming commission portrayed Caesars as.

Charles Baker III, secretary for Suffolk Downs, wasn t too optimistic that a partner would be put inlace in time for next Thursday, when voters from East Boston and Revere are expected to vote on the host community agreements negotiated by Suffolk Downs. The timetable Baker set was Dec.

31, which incidentally, is the same date for the deadline of final casino applications.

Suffolk Downs has two months to find its new partner to take reigns from Caesars. There are no short-lists as of yet as the company is said to be in discussions with several operators.

At least we know that it won t be Caesars Entertainment.

References

  1. ^ finding a new casino operator (calvinayre.com)
  2. ^ cutting ties (calvinayre.com)
  3. ^ $ 24 billion (calvinayre.com)
  4. ^ casino application in Massachusetts (calvinayre.com)

The post Suffolk Downs in talks with new casino operators | Casino News … appeared first on Broadland Security.

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