Sanborn Eager to Sell
In a significant development in the ongoing saga surrounding the Concord Casino, Sanborn’s legal team has announced that he is ready to sell the establishment, with a buyer already lined up. Attorney Adam Katz, representing Sanborn, expressed optimism about the sale, emphasizing that the buyer has a clean record and is fully qualified. “There is no criticism of the buyer’s background,” Katz stated, as reported by New Hampshire Public Radio. “There is no criticism of the buyer’s credentials. There is not one blemish on the buyer’s record that the suitability letter cites. The buyer is spotless from the perspective of the state.”
Sanborn’s eagerness to move on from the casino’s troubles is palpable. Katz noted, “He wants to put this mess far in the rearview mirror.” This sentiment reflects Sanborn’s desire to distance himself from the controversies that have plagued him and the casino in recent months. However, the path to a successful sale has been obstructed, according to Katz, who pointed fingers at what he describes as “the chicanery from the state.”
State Officials Dispel Claims
While Sanborn’s legal team attributes the stalled sale to state interference, New Hampshire Senior Assistant Attorney General Jessica King offers a different perspective. She firmly denies any allegations that the state is attempting to block the sale. “There is no evidence the state is actually trying to prevent anything,” King asserted. This stark contrast in narratives raises questions about the underlying dynamics at play.
King elaborated on the state’s involvement, stating that the New Hampshire Lottery Commission has engaged with the prospective buyer multiple times. “It [the commission] has had constant communication with the buyer. It has gone out of its way to ensure that the buyer had all of the things necessary to complete a suitability determination, and thereafter has continued to talk to the buyer,” she explained. This proactive approach from the state suggests a willingness to facilitate the sale, countering the claims made by Sanborn’s team.
The Pressure to Sell
The urgency for Sanborn to sell the casino is underscored by a directive from Administrative Hearing Officer Michael King, who previously mandated that Sanborn sell the casino within six months. Although Sanborn has received extensions since that ruling, the pressure remains. The timeline for the sale has become a critical factor in the unfolding drama, as Sanborn navigates the complexities of legal and regulatory challenges.
Adding to the urgency is the backdrop of serious legal troubles that Sanborn faces. In October, he was charged with theft for allegedly inflating revenue figures to secure state COVID relief funds, receiving $140,000 more than he was entitled to. This incident has not only tarnished his reputation but has also complicated the sale process. Furthermore, Sanborn is under scrutiny for how he allocated $844,000 in COVID funds, which reportedly included extravagant purchases such as two Porsches and a Ferrari. These revelations have cast a long shadow over his business dealings and have likely influenced the state’s scrutiny of the sale.
The Future of Concord Casino
As the situation unfolds, the future of the Concord Casino hangs in the balance. Sanborn’s determination to sell is evident, but the interplay between his legal challenges and the state’s regulatory framework creates a complex environment. The involvement of a qualified buyer, coupled with the state’s assurances of support, suggests that a resolution may be on the horizon. However, the ongoing legal issues and the contrasting narratives from Sanborn’s team and state officials indicate that the road ahead may still be fraught with obstacles.
In this high-stakes scenario, the stakes are not just financial; they also involve reputations, regulatory compliance, and the future of a business that has become a focal point of controversy in New Hampshire. As both sides continue to navigate this intricate landscape, the outcome remains uncertain, leaving many to wonder what the next chapter will hold for Sanborn and the Concord Casino.