According to testimony before the Massachusetts Gaming Commission in Boston, a deal to bring thoroughbred horse racing back to Suffolk Downs is near.
"We believe we have a meeting of the minds," said Louis Raffetto Jr., who is negotiating on behalf of a group of horse owners and trainers (via the Boston Globe). "The issue is with the Legislature passing a bill, and swiftly."
Chief operating officer of Sterling Suffolk Racecourse Chip Tuttle doubled down on Raffetto Jr.'s sentiments, adding: "We are close to an agreement."
After months of negotiations, representatives of both groups confirmed on Thursday that a deal could come soon. Even with a deal, however, the state Legislature must still reopen the 2011 casino law to make a change in how certain casino revenues can be used.
According to Sean P. Murphy of the Boston Globe, the key to coming to an agreement is tapping millions of dollars from a new fund created by the casino law.
"That fund, meant to support the horseracing industry, directs a substantial percentage of gaming revenues from the state's new casinos and slot parlor to pay for horse racing purses, the cash prizes paid to a winning horse's owner, trainer, and jockey, among others," Murphy writes.
The racetrack was initially forced to shut down as a result of the state gaming commission's vote to give Wynn Resorts a casino license over Mohegan Sun, damaging a Suffolk Downs' proposal that would've put a resort and casino on its property.
The last live racing at Suffolk Downs took place in October 2014.
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