White-Washing Suffolk Downs

This is why the Gambling Commission is losing credibility!

The author also ignored the money laundering [Bank Secrecy Act] by Caesars.




Oct 30, 2013, 9:05pm EDT

Suffolk Downs casino clears background check

Dan Ring, The Republican, Special to the Journal

 

State gaming regulators on Wednesday said that Suffolk Downs has passed a state background investigation for a casino, but added that the race track was "too trusting" of its former partner in the project.

The Massachusetts Gaming Commission voted unanimously to find Suffolk was "suitable" to hold a casino license with certain conditions. The decision came about 10 days after the race track's former partner, Caesars Entertainment of Las Vegas, withdrew from the casino plan at Suffolk Downs, after it was flagged by investigators for the commission.

The decision also was released before voters in East Boston and Revere on Tuesday vote on a casino for Suffolk Downs.

In a six-page decision, the commission said Suffolk owners have "a sound performance record" at the East Boston horse track. The commission also said Suffolk leaders took "swift and decisive action" in asking Caesars to withdraw once state investigators confronted them with certain problems at Caesars.

Suffolk joined with Caesars in early 2011 to build the planned $1 billion casino, but now is working to find a new casino operator.

"It appears as though (Suffolk Downs) was too trusting of a partner and paid insufficient attention to investigating, detailing and documenting the background and intentions of their prospective partner," the commission's decision said.

Under the decision, Suffolk must identify a new partner and that partner must pass a background check by Dec. 30. Suffolk also must present a plan for host and surrounding communities to work with the new partner and provide proof by Nov. 8 that Suffolk has divested Caesars as an owner or has a plan in place to do that, the decision said.

The gaming commission last week released a 558-page investigative report that raised several questions about Caesars, including its $23.7 billion in debt and its dealings with a high roller who filed a civil lawsuit against Caesars, claiming Caesars encouraged him to gamble while intoxicated.

The report also looked at Caesars' involvement with a hotelier whose company was linked to an alleged Russian mob front.

Suffolk would compete with Foxwoods and Wynn Resorts for the sole casino resort license in Greater Boston. Foxwoods is proposing a casino for Milford and Wynn is planning a casino in Everett.

In Western Massachusetts, the Mohegan Sun, which is planning a casino in Palmer, passed its background check, while a similar investigation is still pending for MGM Resorts International, which is planning a casino in Springfield.

Chip Tuttle, chief operating officer at Suffolk Downs, released a statement saying Suffolk plans to build a world-class resort at the race track.

"Suffolk Downs' proposal to create 4,000 jobs for local residents and to provide a boost to local businesses got a boost of its own today with the commission's decision," Tuttle said. "We thank the MGC for its hard work and favorable finding allowing Suffolk Downs to move forward in this important economic development process."

This article originally appeared on MassLive.com.


http://www.bizjournals.com/boston/blog/mass_roundup/2013/10/suffolk-downs-casino-background-check.html?page=2