NM Regulators Sabotaged $50M Racino Plan, Suit Says

Law360, New York (January 3, 2014, 1:38 PM EST) -- The developer of a racino in northern New Mexico accused the state Racing Commission of sabotaging the $50 million project by refusing to renew its horse-racing license because a commission member had close ties to a competitor, according to a suit filed Monday.

After La Mesa Racetrack and Casino encountered a series of delays, the Racing Commission indefinitely tabled developer Michael Moldenhauer's request to alter the facility’s schedule of races and tabled its license-renewal application, letting the license expire and bringing the entertainment complex to a...
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