Embattled New Hampshire Casino is Not Yet Sold, State Must Approve New Owner
Concord Casino has in time to live acquired past another owner as the deadline for the New Hampshire property’s sale is just now a few months away.
In January, the sympathetic casino’s owner, Andy Sanborn, was to pop out looking for a buyer to have o'er the business. There’s reportedly small onward motion so far. The dealing must be ordered before July 1, according to a ruling from New Hampshire down officials.
There’s been no change inward the status of the capital of New Hampshire facility,” Charlie McIntyre, executive director director of the New Hampshire Lottery Commission, was quoted by the Concord Monitor before this week. “There has been no more sale.”
If Sanborn, a former politician, doesn’t sell the casino within the time frame, the property may let its certify revoked. Sanborn does have the option to bespeak an file name extension of terzetto months to regain a buyer, according to the Monitor.
The unexampled possessor also must follow approved past the New Hampshire Lottery Commission below a ruling announced inwards December.
License Suspended
The casino’s certify is currently suspended.
The ruling came after Sanborn allegedly improperly received $844K inwards COVID funds. Casinos were among the ineligible businesses to find sculptural relief money from the government.
But Sanborn’s representatives misled authorities officials on the loan application, according to New Hampshire down regulators.
Sanborn is accused of using $181K of that money on 2 Porsche rush cars, and $80K on a Ferrari for his wife, commonwealth Rep. Laurie Sanborn, R-Bedford, officials said. He also used to a greater extent than $183K on rent, officials further claim.
The misrepresentations on the (COVID) diligence and the subsequent exercise of the proceeds for expenditures not allowed by that loan comprise lead by the licensee that undermines the public confidence inward large-hearted gaming,” Michael King, a hearing examiner, stated inward his ruling, according to the Monitor.
King chose non to regulation on whether on that point were fraudulent statements inwards the loan application but he did conclude in that respect was “clear sour and/or misleading information,” according to the NESN TV network.
During the hearing, officials claimed Sanborn didn’t deserve to continue as an proprietor of a large-hearted casino.
The capital of New Hampshire Casino is set indoors The Draft Sports Bar and Grill inwards Concord. The Sanborns are also attempting to opened a second casino in Concord.
Wife Resigned from Post
In response to the investigation, Laurie Sanborn lastly year stepped pile as chairman of a New Hampshire venire assigned to review article regulations on benevolent casinos.
She decided to leave the station after land and federal officials announced they launched an inquiry.
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