Suffolk-Wonderland merger aimed at luring casino to area

REVERE – Owners of two area racetracks signed a partnership agreement Wednesday that will keep dog racing at Wonderland Greyhound Park for now but give Suffolk Downs the option to purchase Wonderland.The partnership agreement gives Suffolk Downs an option to purchase Wonderland and for the two entities to share in the potential benefits from future development at both sites.It reportedly also includes financial consideration for Wonderland to clean up its current obligations, specifically all or part of the $800,000 in overdue property taxes and other bills the track owes the city.Both tracks will remain separately owned and operated while, according to a joint statement issued by their owners Wednesday, “they work collaboratively to expand the gaming and entertainment opportunities available to their patrons.””What it means for Wonderland is it provides for a solid working arrangement that first and foremost protects jobs,” said Wonderland President Richard Dalton, adding there will be a “resolution in the not-too-distant future” of the overdue city bills.The partnership has been discussed publicly for a week and in the works much longer. Revere elected officials, including state Rep. Robert DeLeo, are waiting to review details of the partnership and how it will shape the future of the 73-year-old racetracks.”I’m optimistic about the merger,” DeLeo said Wednesday, adding, “My concern is what it means for the workers and for the community.”Wonderland with its 350 workers is struggling to maintain a race schedule in the face of a November ballot push to phase out greyhound racing in Massachusetts.Its bid along with Suffolk and two other Massachusetts tracks to attract casinos or slot machines has falling support despite backing from DeLeo and state Rep. Kathi-Anne Reinstein.Suffolk principal shareholder Richard Fields has pumped money into the East Boston-Revere track since acquiring it in 2007, and made the transition of the track to a resort style casino his top goal. Its workforce including track employees as well as horse racing workers totals 2,300.”We have today an excellent understanding that will protect existing jobs as much as possible into the future and will commit the joint resources of our companies to the goal of a premium resort-style casino which will bring new jobs to the area and provide the state with much needed revenue,” Fields said.Fields also announced Wednesday that he is providing funding for Wonderland’s greyhound adoption program to ensure that “all retired dogs find good homes.”A major player in the merger is former Wonderland stockholder and Suffolk principal Joseph O’Donnell.