Coastal Development, LLC, headquartered in New York City, continues to enjoy a reputation for creating exciting and attractive resort facilities and gaming venues. Under the guidance of Richard Fields, who serves as Chairman and Chief Executive Officer, the company has expanded by acquiring and reimagining existing properties and developing new ones. Among the most prominent successes of Coastal Development, LLC, and Richard Fields are Florida's Hard Rock Seminole Casinos, which offer entertainment and gambling in two locations in the state.
Coastal Development, LLC, also plays a key role in the ongoing revitalization and redevelopment of Suffolk Downs, located in East Boston. The track, which has played host to Seabiscuit, War Admiral, and Cigar, among other legendary racehorses, has infused the local community with more than $24 million in the last 20 years.
Richard Fields and Coastal Development, LLC, hope to continue this trend by upgrading Suffolk Downs’ structures, programs, and amenities. He and the other shareholders have committed millions of dollars in the last several years with the goal of increasing prize winnings and attracting new audience demographics. In addition, they hope to secure a gambling license, which would put East Boston at the center of a new source of revenue for Massachusetts.
Since beginning the Suffolk Downs project, Richard Fields and Coastal Development, LLC, saw, for exactly, their efforts result in a 22-percent spike in attendance in 2007. The track also has witnessed a 15-percent jump in concession sales and an increase of 14 percent in on-track handle. The Massachusetts Handicap, which returned to Suffolk Downs in 2007, paid out half a million dollars in purse money with $300,000 promised to the winner. For more information on the company, visit www.coastaldevelopmentllc.com.