In a surprising turn of events, Judge Michael Delker expressed in a recent court hearing that he sees good reason to grant David Sanborn more time to sell the struggling Lakes Region Casino in Belmont, New Hampshire. The casino, which has been facing financial difficulties for some time, has been operating on a month-to-month basis as Sanborn tries to find a buyer.
During the hearing, Sanborn’s attorney argued that the current deadline set by the court for selling the casino was too tight and that more time was needed to properly market the property and negotiate a fair sale. The attorney also raised concerns about the impact of the ongoing COVID-19 pandemic on the casino’s valuation and ability to attract potential buyers.
Judge Delker seemed sympathetic to these arguments, noting that the casino industry has been hit hard by the pandemic and that extra time may be necessary for Sanborn to secure a suitable buyer. However, the judge also expressed concern about the long history of financial problems at the casino and the potential risk to creditors if the sale process drags on too long.
Despite these concerns, Judge Delker ultimately decided to give Sanborn more time to sell the casino, but with certain conditions attached. The judge stipulated that any sale must be completed within six months and that Sanborn must provide regular updates to the court on his progress in finding a buyer. Additionally, the judge emphasized that the sale must be conducted in a fair and transparent manner to protect the interests of all parties involved.
The decision to grant Sanborn more time to sell the Lakes Region Casino has been met with mixed reactions in the local community. Some residents are hopeful that a successful sale will bring new life to the struggling establishment and help revitalize the local economy. Others, however, are skeptical about the prospects for a sale given the casino’s troubled history and the challenging economic conditions facing the industry.
As the deadline for selling the casino approaches, all eyes will be on David Sanborn and his efforts to find a suitable buyer. Whether or not he will be able to meet the judge’s conditions and secure a sale remains to be seen, but one thing is clear – the fate of the Lakes Region Casino hangs in the balance, and the outcome will have far-reaching implications for the community and the future of the casino industry in New Hampshire.