Thomas Grillo
Real Estate Editor- Boston Business Journal
A Colorado developer who has been dealt out of the competition for a casino license in Greater Boston is betting that his proposal for a gambling complex in Milford, Mass. will beat Suffolk Downs’s idea for a resort-style casino at the racetrack.
“I will be in the competition and will definitely take on Suffolk Downs,” said David Nunes. “No one should get a freebie.”
Under a revised plan for a site off Route I-495 with a new partner he declined to name, Nunes said the resort-style casino will cost up to $1 billion. It will be bigger than his original $800 million proposal, dubbed “Crossroads,” that was unveiled in 2009. Nunes said he will reveal the new plan soon before the Milford Board of Selectmen by year’s end. His deal with Hard Rock Hotel Casino Las Vegas operator Warner Gaming has ended and he is in the “due-diligence” period with a new investor, he said.
Nunes has faced a daunting challenge from Suffolk Downs for the one license for Eastern Massachusetts, which includes Suffolk, Middlesex, Worcester, Essex and Norfolk counties. House Speaker Robert DeLeo and Mayor Thomas M. Menino have voiced strong support for the East Boston racetrack site. Suffolk Downs is seeking to build a resort-style casino with Caesar’s Entertainment. The $1 billion development plan for the 163-acre site includes a hotel, restaurants, a casino, shops, entertainment areas, spa facilities and horse racing.
For more on the race for the Boston area’s one casino license, check out “Developer upping the ante on Milford casino” (premium content.)
Follow Your Favorites with My News
My News is a way to create a customized news feed based on companies and industries that matter to you.
Open all references in tabs: [1 – 3]