The profit Andy Sanborn stands to make from selling his Concord Casino does not outweigh the potential benefits a licensed casino could bring to New Hampshire, a judge ruled, giving Sanborn around 50 days to finalize the sale.
Judge Gregory Albert in his decision on Monday said an extension for the sale of the casino on South Main Street in Concord could mean a significant economic impact on New Hampshire, including generating vital tax revenue and supporting projects and scholarships for charitable organizations.
“There can be no argument that the equities on those points fall squarely in WWW’s (the business that owns Concord Casino) favor and that Mr. Sanborn would also receive proceeds from the sale does not change the scenario,” wrote Judge Albert. “He owned the business, and if the business is sold, he is owed money from the sale. His possible profit does not change the positive impact that having a casino in that location with a license would have for New Hampshire.”
Before the order, Sanborn had to sell the casino by Sept. 30 with his gaming license suspended until that date. If he did not, Sanborn see a two-year revocation of his gaming license.
In response, his attorneys, Adam Katz and Zachary Hafer, requested an extension to delay the suspension, citing the complexities involved in the sale that would require additional time to resolve.
But Judge Albert denied the extension request due to his lack of authority to alter a deadline that had been established nine months earlier by hearing officer Michael King.
Instead, he stayed the decision, allowing both parties 15 business days to request a rehearing. If either side pursues this, the case could be delayed by an additional 30 days and potentially escalate to the New Hampshire Supreme Court upon appeal.
Judge Albert believed that an extension was justified because if the deadline is enforced, on Oct. 1 Concord Casino would become “virtually worthless,” as its most valuable asset is its existing license.
A new buyer could apply for a license, but they would face many challenges — finding a location, securing proper zoning, acquiring gaming machines, and hiring staff — all of which would already be in place if the casino is sold with its license intact.
These challenges would be greatly reduced if the Concord Casino is sold along with its license, location, and operational machines, said Judge Albert.
How much did Concord Casino contribute to charities?
Concord Casino, one of the smallest casinos in New Hampshire, also makes one of the smallest charitable contributions among the state’s 12 active casinos.
In 2022, it allocated $148,267 to charities, after deducting a rental fee that charities must pay to secure a spot on the casino’s schedule. The following year, in 2023, that figure rose to $173,095.
Now, casinos can no longer charge rent after House Bill 1203 was signed into law earlier this year.
But this is still far from the $4.1 million The Brook, the largest casino in the state donated to charities in 2023.
Despite these donations, many of the charities that partnered with Concord Casino saw their payouts limited, often receiving less than $8,000 because of the hefty rent fees they were required to pay.
Documents obtained by the Monitor revealed that the payouts some organizations received fell short of the state-mandated minimum percentage of 35% because they had to give part of their proceeds back to the casino as rent — fees that were higher than at most other casinos in the state.
These rental fees were calculated based on the proceeds the charities received. There was no standard rate.
But other casinos operated differently.
The Brook charged charities $375 per day, while The River Casino & Sports Bar in Nashua and The Moose Casino & Tavern in Nashua both charged $375 to $600. Meanwhile, Wonder Casino in Keene charges between $375 and $750.
Concord Casino’s rental fees, combined with its revenues, totaled around $1 million annually. In just the first half of last year, Sanborn retained about $80,000 that should have gone to charity if he had adhered to the full 35% payout required by law.
Sanborn’s revenue from games of chance reached $316,394 in 2022, and climbed to $345,835 in 2023, according to New Hampshire Lottery Commission records.
During hearings leading up to Judge Albert’s decision, the state opposed an extension, and argued that Sanborn’s attorneys had “demonstrated that the public good requires an extension.”
The sale of Concord Casino has been difficult due to concerns from potential buyers about Sanborn’s legal troubles, which might lead to complications for the new owner.
If the current buyer is approved for a license by next Monday, Albert’s order becomes irrelevant.
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