Key points:
- Sanborn’s legal team has already signaled plans to challenge both the Judge’s order and the state review of its purchase and sale deal
- Documents from the New Hampshire Lottery Commission revealed Bettor Investments and Full House were potential buyers
Documents from the New Hampshire Lottery Commission have pointed to Bettor Investments Group and Full House Resorts as potential buyers of Concord Casino, currently owned by Anthony Sanborn.
Despite interest shown by the two Las Vegas-based companies, the sale was delayed when Judge Gregory Albert decided that New Hampshire could proceed with revoking Sanborn’s gambling license in November.
The state has been pushing to revoke Sanborn’s license for months after discovering issues with the sale’s terms, with details of those not yet having been released.
Sanborn’s legal team has signaled plans to challenge the Judge’s order and the state review of the purchase and sale deal.
Adam Katz, an attorney representing Sanborn, explained at a hearing in July that Bettor Investments Group’s offer was “structured based on peanuts over time.”
According to local reports, the deal hinges on lower up-front payments, with future installments tied to the casino’s profitability, measured by its EBITDA.
Good to know: Full House Resorts signed a deal with Clarity Game to sell certain operating access, as well as the land and building of its Stockman’s Casino in September 2024
Full House Resorts had met with commission members during the first week of June, based on findings in the New Hampshire Lottery Commission documents.
Mark Dell’Orfano, representing the New Hampshire Lottery’s Investigation and Compliance Division through the Attorney General’s office, stated that the Commission had informed him a $30m deal was potentially made by one of the prospective buyers.
With Sanborn’s gambling license currently revoked for two years, however, he is prohibited from selling the casino during that time.
