Fields Buys Largest Interest in Suffolk Downs
April 2, 2007 - Bloodhorse Magazine
Coastal Development Massachusetts, a development company headed by Richard Fields, has acquired a significant interest in Sterling Suffolk Racecourse, which owns and operates Suffolk Downs in Massachusetts. The acquisition makes Coastal Development the largest shareholder in Sterling Suffolk Racecourse.
As chairman and founder of Coastal Development, Fields successfully co-developed the Seminole Hard Rock Casino and Hotel Projects in Tampa and Hollywood, Fla., respectively, with the Cordish Company. He also is a member of Excelsior Racing Associates, which has submitted a bid to operate Aqueduct, Belmont Park, and Saratoga in New York.
In addition to Fields, Sterling Suffolk Racecourse's primary shareholders include partnerships controlled by Joe O'Donnell, the chairman of Boston Culinary Group; Vornado Realty Trust; and Hall Properties.
"Richard Fields' investment in Suffolk Downs is a positive development for horseracing in Massachusetts," Suffolk Downs president John Hall said. "He is an avid horseman who brings extraordinary enthusiasm for racing as well as considerable expertise in gaming and development."
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