The owners of the Suffolk Downs horse track hope to continue simulcasting operations at the property even after the 161-acre site is redeveloped.
Chip Tuttle, Sterling Suffolk Racecourse chief operating officer, said Tuesday that the firm has submitted a letter to the Massachusetts Gaming Commission, asking for approval of the track’s sale to a subsidiary of The HYM Investment Group. It’s the first time the track’s ownership group has confirmed the pending deal.
The track’s current owners plan to retain their racing and simulcasting license and operations after the sale, Tuttle said. Boston-based HYM has agreed to lease back a portion of the property to be used for live racing and simulcasting for the rest of 2017 and 2018, he said. Beyond 2018, the track owners hope to continue simulcast operations there “as the regulatory environment permits,” Tuttle said.
Sterling Suffolk decided to sell the site for redevelopment after the gaming commission awarded a Boston-area casino license to Wynn Resorts in 2014. The track’s owners previously wanted to partner with casino operator Mohegan Sun to build a gambling complex on the Revere side of the property, but the commission picked Wynn’s proposal for Everett. Under the state’s gaming law, there can be only one casino in the area.