CASINO DEVELOPER SUES NM RACING COMMISSION
Written by Guy Clark pictured.
Michael Moldenahuer, who partially finished a track-casino in Raton in 2010, is suing the NM Racing Commission and some previous members of the commission for violating his rights when they revoked his racing license. After Moldenahuer missed a couple of deadlines for completion of the casino, the commission revoked his racing license and scuttled the casino. His gaming license, which would have allowed slots at the facility, was also revoked by the gaming control board.
Moldenahuer is suing on the basis that he invested millions of dollars in developing the site, and the partially completed permanent casino in Raton, and was not provided with due process.
He previously sued in appeals court and the State Supreme Court, but lost in both of those suits. He is now suing in Federal District Court. His lawyers are probably doing great, but his chances of winning are very remote, since he agreed to the completion dates, and simply failed to raise sufficient money in time to complete the project.
Most of the state’s other racetracks, some of which are financially fragile, have gone on record opposing new racing licenses. The racing commission would do well to issue NO new licenses. New Mexico has had enough scandals with racing in the past few years.
An Albuquerque Journal article about the lawsuit can be found here.
