NEWS
New Mexico revokes La Mesa license
Posted: Thursday, May 06, 2010 5:47 PM
by Frank Angst
Noting the failure of the La Mesa Racetrack and Casino to meet operations deadlines, the New Mexico Gaming Control Board has revoked the operator’s license.
In order to meet the requirements of the license, Canadian investor Michael Moldenhauer’s La Mesa Racetrack and Casino was to begin casino operations by May 1. This date had been pushed back from September 2009, and then to January 31, 2010, before settling on the May 1 deadline. On March 4 the board ruled that La Mesa would lose its license if it did not begin casino operations by May 1.
The board revoked the license on May 4, noting that casino operations had not started.
La Mesa also is expected to lose the racing license that goes along with the casino operation as it is required to conduct races by May 28. Little construction has been completed and in its decision, the gaming control board noted La Mesa has failed to document a funding commitment sufficient to complete racetrack facilities.
The New Mexico Racing Commission plans to take action against the developer at its May 19 meeting. It would then be expected to reopen the process of selecting the license holder for the state’s sixth racino.
Frank Angst is a Thoroughbred Times senior staff writer
