Bettor Investment Group has reportedly made an offer to purchase the troubled Concord Casino in New Hampshire, according to documents from the New Hampshire Lottery Commission.

The potential acquisition faces uncertainty following a recent court ruling that allows state officials to proceed with revoking current owner Andy Sanborn's casino license for two years. Sanborn was previously ordered to close and sell the property following an investigation.

Bettor Investment Group has experience in gaming property development, having participated in financing, designing, and opening several Las Vegas properties including The Palazzo, The Linq Hotel & Casino, and The Cosmopolitan, as well as the Hard Rock Casino Lake Tahoe.

Full House Resorts Inc., which operates seven gaming properties across five states, has also expressed interest in acquiring the casino. Representatives from Full House met with the New Hampshire Lottery Commission in June, with reports suggesting a potential $30 million deal was under consideration.

The sale complications stem from ongoing legal issues involving Sanborn, a former state senator. In October, he was arrested for allegedly fraudulent use of COVID-19 relief funds, including inflating the casino's gross receipts by approximately $1 million to receive an additional $188,000 in government aid. Previously, Sanborn faced scrutiny for using $844,000 in COVID relief loans to purchase luxury vehicles, including two Porsches and a Ferrari.

Sanborn's legal team continues to fight for the ability to complete a sale, while state officials maintain their position on license revocation. The matter may proceed to court or face a rehearing by the Lottery Commission.

Related Articles

Previous Articles