Concord Casino Owner’s License Suspended
A New Hampshire casino owner possibly facing criminal charges lost his gaming license this week and the Concord Casino is now closing its doors.
The New Hampshire Lottery Commission suspended owner Andy Sanborn’s license for six months, allowing him to sell the business during that time or have his license revoked for two years, according to the ruling. The move comes after Sanborn faces allegations that he misused COVID-19 relief money to make personal purchases and also didn’t provide appropriate records on spending to regulators.
“By making multiple false entries in Concord Casino’s books and records, Concord Casino’s and Mr. Sanborn’s misconduct undermines the public’s confidence in the integrity of charitable gaming in New Hampshire,” lottery officials noted in a statement of facts in the case.
“By failing to supply the Division with information and documentation demonstrating Concord Casino’s financial stability by clear and convincing evidence, Concord Casino’s and Mr. Sanborn’s misconduct undermines the public’s confidence in the integrity of charitable gaming in New Hampshire.”
Details on the Case
New Hampshire allows for charitable gaming, but the ruling now suspends Sanborn from being involved in that casino model. Hearing officer Michael King ordered that the casino must be sold and that the new buyer must be approved by lottery officials. The license suspension begins Jan. 1 and the casino must close by the same day.
Authorities allege Sanborn received hundreds of thousands of dollars in COVID relief funds and used that money to purchase luxury cars including two Porsches and a Ferrari. He’s also alleged to have paid rent to another casino he owned at $20,000 per month when he previously only paid $500 per month before receiving the pandemic relief funds.
Auditors also allege that significant sums of money disappeared from the casino’s operating funds and were booked as “equipment” purchases without showing what the equipment actually was. Regulators also had major concerns with the company’s overall financial accountability for the operation.
“There was evidence that the respondent’s bookkeeping practices were substandard in both the 2021 and 2022 audit,” King noted in the ruling.
Beyond the gaming license revocation, Sanborn also faces criminal charges. In September, state Attorney General John Formella announced fraud allegations against Sanborn and continues to investigate. Federal charges could also be possible, according to reports.
Sanborn has denied the charges against him and his attorney, Mark Knights, said that receiving a suspension rather than an immediate revocation shows that much of the allegations don’t rise to that level and this is his first infraction with the lottery commission.
“That is ultimately what we were fighting about in these proceedings, whether or not the license should be revoked,” Knights told the Concord Monitor, “and the hearing officer decides that it shouldn’t be. So that’s a win for Win Win Win (parent company of the Concord Casino) and Mr. Sanborn.”
NBA Social media Tip Leads to Productive Parlays
In other gaming news, the NBA’s “load management” strategy led to some interesting betting results for many players this week. Brooklyn Nets’ coach Jacque Vaughn chose to rest many of the team’s starters in the game against the Milwaukee Bucks on Wednesday, including star forward Mikal Bridges.
News of the move leaked on social media and many players cleaned up with some savvy wagering. The Twitter account and handicapper @DK__DFS was one of the first to make note of the opportunity for bettors.
“The Nets are resting all their vets besides Mikal Bridges,” he noted. “Remember he still holds the active record for most consecutive games started. I would not be surprised if he starts and plays one quarter tonight. Something to note for the prop market.”
That proved to be some nice advice for many gamblers. The New York Post reported that numerous bettors reported some nice wins on Twitter by betting against the Nets and wagering on Bridges’ production.
“Many bettors posted a same-game parlay on Bridges’ player prop unders, including his points, rebounds, assists and 3-pointers made,” the newspaper noted. “One NBA bettor who saw the tweet early bet $20 at +1400 to payout $300 on Bridges under 23.5 points, 1.5 3-pointers made, 4.5 rebounds, 3.5 assists.”
These bettors won easily after Bridges played only 12 minutes in the 144-122 loss, keeping his consecutive games played record alive. He did play, but only a few minutes and finished the game with only six points, three rebounds, one assist, and no 3-pointers.
Many bettors responded to the initial Tweet by @DK__DFS with their own wins. However, the handicapper received some criticism by spreading news of the edge on the play and instead not making sizable bets that would result in much larger wins.
