Thursday, May 06, 2010

Racetrack Developer Loses Gaming License In New Mexico

The state of New Mexico was looking forward to the tax revenue that would come from a new racetrack and casino in Raton. On Tuesday, however, the plans for that facility were put on hold by the New Mexico Gaming Control Board. The Board voted to revoke the license issued to racino owner Michael Moldenhauer because the developer missed a deadline to have a temporary casino up and running. Moldenhauer claims the casino was set to open in a tent in less than a month. In addition to the Control Boards decision, the New Mexico Racing Commission is expected to revoke the racing license at a meeting on May 19th. In New Mexico, it is not legal to operate a racetrack without a casino. Moldenhauer is planning on appealing the ruling...more

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