Suffolk Downs, Wonderland form partnership
August 2008
By Matt Viser, Globe Staff
Suffolk Downs and Wonderland Greyhound Park agreed today to form a partnership to "protect the thousands of existing jobs" at both race tracks and strengthen their position to build a resort-style casino if the state expands gambling, according to a joint statement.
By joining forces, the tracks gain significant economic benefits they lack as separate entities. Wonderland gains the greater financial strength of its East Boston counterpart, while Suffolk gains access to potentially lucrative development opportunities in Revere.
"We have been working on this kind of agreement for a while, but the time has been well spent because we now have gotten it right," said Richard Fields, Suffolk Downs' principal shareholder.
Discussions of a partnership between the principal owners at the two tracks - Charles Sarkis at Wonderland and Fields at Suffolk Downs - have been ongoing for nearly two years, but issues have come up each time to halt the discussions. Last November, the two men agreed on terms before the Suffolk officials opted out because they thought the agreement was too generous to Sarkis.
Read the rest of the article about Richard Fields partnering up with Wonderland.