Embattled New Hampshire Casino Is Not Yet Sold, State Must Approve New Owner
Concord Casino has yet to be acquired past another owner as the deadline for the New Hampshire property’s sales agreement is just now a few months away.
In January, the sympathetic casino’s owner, Andy Sanborn, was to take up looking for for a buyer to read o'er the business. There’s reportedly little shape up so far. The transaction must follow ordered before July 1, according to a ruling from New Hampshire officials.
There’s been no modification in the status of the capital of New Hampshire facility,” Charlie McIntyre, executive director theater director of the New Hampshire down Lottery Commission, was quoted past the Concord Monitor tidings outlet earliest this week. “There has been no sale.”
If Sanborn, a former politician, doesn’t sell the cassino within the time frame, the dimension may have its license revoked. Sanborn does get the alternative to quest an lengthiness of three months to chance a buyer, according to the Monitor.
The new proprietor also must follow approved past the New Hampshire down Lottery Commission under a ruling announced in December.
License Is Suspended
The casino’s permit is currently suspended.
The ruling came after Sanborn allegedly improperly received $844K in COVID funds. Casinos were among the businesses that were ineligible from getting succor money from the government.
But Sanborn’s representatives misled governing officials on the loan application, according to New Hampshire regulators.
Sanborn is accused of using $181K of that money on 2 Porsche run cars, and $80K on a Ferrari for his wife, commonwealth Rep. Laurie Sanborn, R-Bedford, officials said. He also used more than $183K on rent, officials farther claim.
The misrepresentations on the (COVID) applications programme and the subsequent expend of the proceeds for expenditures not allowed past that loan represent lead by the licensee that undermines the public confidence inwards good-hearted gaming,” Michael King, a audience examiner, stated inwards his ruling, according to the Monitor.
King chose not to formula on whether in that location were fraudulent statements in the loan application. But he did conclude in that location was “clear sour and/or misleading information,” according to the NESN TV network.
During the hearing, officials claimed Sanborn didn’t deserve to uphold as an possessor of a sympathetic casino.
The Concord Casino is placed within The Draft Sports Bar and Grill inwards Concord. The Sanborns are also attempting to surface a second casino, also inward Concord.
Wife Resigned from Post
In response to the investigation, Laurie Sanborn finally year stepped downward as chair of a New Hampshire panel assigned to retrospect regulations on kindly casinos.
She decided to pull up stakes the station after body politic and federal officials announced they launched an inquiry.
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