Its hopes to survive by partnering with a casino developer were dashed by East Boston voters, revived by Revere voters, but then finally crushed by Steve Wynn and the Massachusetts Gaming Commission.

And after running its last live thoroughbred races in November, Suffolk Downs had planned to shut down for good on December 31. Then its owners would turn to the question of how best to redevelop the 150-acre parcel straddling the Revere-East Boston border and two MBTA Blue Line stations.

But Thursday, New Year's Day, found the 79-year-old horse track enjoying one last lease on life after state legislators passed emergency legislation hours before 2014 ended to let Suffolk offer "simulcasting" off-track betting through -- for now -- March 31.

"It's like my Christmas present -- only it came on New Year's,'' said East Boston resident Mike Marano, moments before winning $8 as his horse Coral Beach crossed the finish line first at the Aqueduct track in New York.

"If this was shut today, it would be a real bad scene, a real bad scene,'' said Ambrose Pascucci of Revere, who's been training horses at Suffolk for over 30 years. He's not so confident that, even with the simulcasting lifeline, live racing and its hundreds of jobs return in the spring.

"The horsemen, they're hoping for the best, expecting the worst,'' Pascucci said. "But this is a good start, though. You get revenue. It's better not shutting down. Being optimistic is good, don't you think?''

Suffolk has been in talks with the New England Horsemen's Benevolent and Protective Association about continuing live racing at the track in 2015, but stressing that the horsemen have to make the numbers work financially. The Massachusetts Gaming Commission has said it will be as flexible as it can to support continued live racing at Suffolk and other tracks in the state.

"We've just got to keep our head above water right now, and just wishing on a star that it comes true for us,'' Anthony Puleio of East Boston said.

After 79 years of ups and downs, Suffolk's faithful were, on Thursday, just thankful for however much more time simulcasting can help them borrow.

Don Weir of Framingham, Mass., first came to Suffolk Downs in 1970, bringing his father-in-law to watch the horses, and quickly fell in love with "the excitement, the rush, and friends.''

Marano, whose mother enjoyed coming to wager at Suffolk Downs until she was 94 and passed away, said it's a community that's at stake as Suffolk tries to keep racing alive. "Everybody here, they're not just here to gamble,'' Marano said. "This is a gathering place where we all have fun.'' And where they should be able to for at least a little more of a 2015 Suffolk hadn't expected to survive to see.

With videographer John J. Hammann