Caesars, Suffolk Downs would partner on Boston casino

Sterling Suffolk Racecourse LLC, owner of the Suffolk Downs racetrack in East Boston and Revere, Mass., announced today that it has entered into a "strategic alliance" with Caesars Entertainment Corp. to develop a casino on the racetrack property should Massachusetts authorize casinos. 

Caesars Entertainment, formerly known as Harrah’s, is the world’s largest gaming company. Based in Las Vegas, it owns or manages casino resorts on four continents. 

“Our alliance … will bring significant management expertise, marketing power and additional potential investment to enhance our ability to develop a gaming and racing complex commensurate with Boston’s status as a world-class city and tourism destination,” Richard Fields, Suffolk Downs’ managing partner, said in a statement. 

Fields, a casino developer, rancher and horseracing enthusiast, and Joe O’Donnell, a Cambridge, Mass.-based entrepreneur, philanthropist and former owner of the Boston Culinary Group, are the principal shareholders of Sterling Suffolk Racecourse. 

Under the agreement, Sterling Suffolk Racecourse retains control of the potential development of the property, including licensing, community relations and labor relations while Caesars Entertainment would manage a casino at the track if such a development occurs. 

Financial terms of the agreement were not disclosed.