The authorities had already decided to revoke the casino’s license and declined a proposed sale. Albert’s recent order has now confirmed this decision, according to New Hampshire Public Radio. Although Sanborn can sell the actual casino, without a historical horse racing (HHR) license, the business loses its value. This revocation will be effective for two years.
Albert mentioned that the ruling can be contested in court or appealed before the state lottery commission. He empathized with the fact that closing the casino would halt funding for local charities but ultimately withdrew, acknowledging his lack of authority to extend proceedings.
Sanborn’s legal representatives, Adam Katz and Zachary Hafer, have pledged to challenge the ruling. Hafer expressed to NHPR that the state’s reasons for blocking the sale are unclear. He stated, “We hope the state will make the right decision voluntarily, but we are ready to defend our rights in court.”
The precise timing of the revocation’s enforcement remains uncertain, as does whether the two-year period will account for the prior year during which Sanborn’s license was suspended amid the sale process.
### The Long and Winding Saga
Unless appealed, Albert’s order marks the conclusion of a lengthy and intricate legal drama. It originated last August when New Hampshire’s attorney general, John Formella, declared Sanborn unsuitable for a license. Formella accused Sanborn, a former state senator, of misappropriating nearly $850,000 in COVID relief funds for the casino and other ventures. Notably, $182,000 was spent on luxury cars, including two Porsches for himself and a Ferrari for his wife, Laurie Sanborn.
Sanborn has not been charged as part of this investigation and has initiated legal action against Formella’s office. Nevertheless, he was directed to close and sell Concord Casino by January. Although the state advocated for a complete revocation of his license, that was not sanctioned. Sanborn had until June to sell the casino, with a possible extension to September if a sale was near. This extension was granted.
Later, in September, Albert devised a legal avenue to further prolong the process. Sanborn secured a buyer and completed the required assessments. However, earlier this month, the state rejected the sale possibly over concerns about the deal’s structure, rather than the buyer’s suitability.
Hafer informed NHPR that the buyer addressed two issues brought up by the state concerning the sale, but to no effect.
### October Charge Complicates Matters
Adding to the inherent complexity, Sanborn faced another challenge with a fraud charge in October. He was arrested on October 16, charged with theft by deception, accused of overstating the casino’s gross income by approximately $1 million. This enabled him to wrongfully gain $188,474 more in grant funds than eligible. If convicted, he confronts a potential 15-year prison term.
This charge complicates matters since the state could not assure that Sanborn’s liabilities wouldn’t carry over to the new owner. Under state regulations, any individual or business convicted of a felony is barred from holding a gaming license for a decade.
While Sanborn and his legal advisors succeeded in securing extensions, recent developments make the likelihood of the sale proceeding seem dim.