Concord Casino Owner Andy Sanborn Faces License Revocation Amid Fraud Allegations

Concord Casino Update: Legal Challenges for Andy Sanborn

Andy Sanborn, owner of Concord Casino, faces legal hurdles in connection with pandemic fraud allegations. A judge ruled that the New Hampshire Lottery Commission can revoke his gaming license for two years. This ruling is critical as Sanborn attempts to sell the casino, which was ordered closed in January due to these allegations.

The casino’s value largely comes from its access to historic horse racing licenses, but without this license, the business loses its value. The status of the intended sale remains unclear, with issues arising from the structure of the deal rather than the buyer.

Judge Gregory Albert stated that either party can request a rehearing with the Lottery Commission. He acknowledged that charities and taxpayers benefit from casino revenue but mentioned that he lacks the authority to grant more time for Sanborn to make the sale.

Sanborn’s legal team is prepared to challenge the recent ruling. They argue that public interest favors the sale and express their commitment to moving forward with the transaction. They believe the new buyer has offered a clear path to closing the sale, which would benefit the community financially.

Concerns about Sanborn’s finances emerged in spring 2023 during a routine review. In August, allegations surfaced regarding the misuse of $844,000 in federal pandemic loans, including funds used to purchase luxury cars. No formal charges have been made against him related to this investigation, but he has faced arrest for alleged fraudulent practices regarding other federal aid.

Negotiations to sell the casino have faced challenges, primarily due to potential buyers’ hesitance to inherit Sanborn’s legal issues. The Attorney General’s Office has not guaranteed that buyers would not be liable for future convictions.

Despite multiple extensions, the deadline for completing the sale passed on November 21. The judge indicated that further extension requests would not be considered as a result.

Sanborn remains focused on finalizing the sale while navigating the ongoing challenges presented by state authorities.