Caesars Entertainment’s chief executive Gary Loveman glibly defends his business as a service industry for risk-takers who want to place “a modest bit of consideration” on an uncertain outcome.
That was what the gambling giant did at Suffolk Downs, when it partnered in 2011 with a Depression-era racetrack that was well positioned to pursue casino development rights.
A year later, Loveman likes his prospects: He boldly says he foresees no other competitors for the Greater Boston casino license, likely to be the most lucrative license in the emerging Massachusetts gambling market.
“I think it’s unlikely [another bidder will surface] because the cost of now mounting a bid is substantial,” said Loveman, in his first extensive interview since plans for a $1 billion Suffolk Downs casino were released last month.
It is exactly the kind of audacious public prediction the cautious local management at Suffolk Downs would never make.
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