The state had already deemed the licence to be revoked and had rejected a proposed sale. But Albert’s order this week all but cements that decision, per New Hampshire Public Radio. Sanborn may still sell the casino itself but without a historical horse racing (HHR) licence the business is essentially worthless. The revocation will last for two years.

Albert did say that the ruling could be appealed in court or before the state lottery commission. He was sympathetic to the fact that closing the casino would cut off revenue streams to local charities. But he ultimately stepped aside, acknowledging he no longer has the authority to extend the process.

Sanborn’s attorneys Adam Katz and Zachary Hafer have already vowed to appeal the ruling. Hafer told NHPR that “it remains unclear” as to why the state would prevent the sale. “We hope the state will do the right thing voluntarily but we are prepared to pursue our rights in court,” he added.

It remains unknown when exactly the revocation will take effect. It is also unclear whether the two-year revocation will include the last year in which Sanborn’s licence was suspended amid the forced sale process.

Saga has been long and drawn out

Barring appeal, Albert’s order is, for now, the end of a legal saga that has been both dramatic and entertaining.

It began last August, when New Hampshire attorney general John Formella announced that Sanborn was found unsuitable for licensure. Formella alleged Sanborn, a former state senator, had misappropriated almost $850,000 (£670,000/€804,000) in Covid relief funds related to the casino and other businesses. Some $182,000 of that was spent on two Porsches for himself and a Ferrari for his wife, representative Laurie Sanborn.

Sanborn has yet to be charged in that investigation and has since sued Formella’s office. But he was ordered to shutter and sell Concord Casino in January. The state pushed for his licence to be revoked altogether, but that request was not granted. Sanborn was given a June deadline to sell the casino, with a stipulation that the deadline could be pushed to September if a sale was imminent. That extension was eventually granted.

Then in late September, Albert created a legal pathway to extend the process again. Sanborn has found a buyer and suitability reviews have been completed. When the state rejected the sale earlier this month it was believed to be due to suitability concerns, but it now appears to be related to the deal structure.

Hafer told NHPR the buyer had clarified two issues with the state related to the sale, to no avail.

October charge was latest dilemma for Sanborn

If things weren’t complicated enough, a separate fraud charge in October really muddled the process. Sanborn was arrested 16 October on a theft by deception charge. In that investigation, he is accused of misrepresenting the casino’s gross receipts by about $1 million. This allowed him to collect $188,474 more in grant allowances than he should have. He faces up to 15 years in prison for the charge if convicted.

This new charge was significant in that the state couldn’t guarantee that Sanborn’s liability wouldn’t transfer to the new owner. Under state law, any person or business convicted of a felony may not hold a gaming licence for 10 years.

Sanborn and his legal team have done well to secure extensions to this point. But the chain of events in recent months makes it seem unlikely that the sale will actually go through.