BOSTON (CBS) — It might soon be time to saddle up again at Suffolk Downs.

Last fall, the historic East Boston track was packed with spectators who thought they were seeing the venue’s final races, but that may not have been the end.

READ MORE: 12 Officers Honored With George Hanna Award For Bravery

Jay Bernadini, of the New England Horsemen’s Benevolent and Protective Association, tells WBZ NewsRadio 1030 that the group signed a letter of intent Tuesday night to lease Suffolk Downs for racing this summer.

“We may have a future to race over here at Suffolk Downs,” he said.

Suffolk Downs. (WBZ-TV)

Suffolk Downs. (WBZ-TV)

But in order for that to happen, they’d need a change in the law and approval from the Massachusetts Gaming Commission.

READ MORE: Liana Wallace On 'Survivor' All-Black Alliance Falling Apart: 'Just Wanted Us To Make Top 8, Then We Can Have World War II''

“We need the legislators to act quickly as well as the gaming commission, hopefully to appropriate funds so we can get this done,” Bernadini said.

The track had lost money for years before holding the last races in October. Regulators rejected a plan for a Mohegan Sun resort casino last year that was expected to revive the track’s fortunes.

If they can obtain legislative approval, racing could start up again by the end of May.

“Hopefully we’ll get to see everybody out there again,” Bernadini said.

MORE NEWS: 3 Captured After Stolen Car Filled With Stolen Packages Crashes In Holbrook

WBZ NewsRadio 1030’s Carl Stevens reports: