Belmont casino sold to Nevada company for $3 million
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BELMONT — The Lakes Region Casino has a new owner.
Potts NH RE LLC sold the property at 1265 Laconia Road (Route 106) to Belknap Gaming LLC for $3 million, according to records at the Belknap County Registry of Deeds. The sale was recorded on Jan. 12.
Belknap Gaming was granted a Games of Chance Location license and a Game Operator and Employer license by the New Hampshire Sweepstakes Commission on Dec. 29, according to Maura McCann, marketing director for the agency.
According to the deed, Belknap Gaming lists its principle office as Pilot Grove Management, in Las Vegas, Nevada. Attempts to speak to a Pilot Grove official about plans for the casino on Wednesday and Thursday were unsuccessful.
Two days after the sale was recorded, back property taxes, plus interest and associated costs, totaling $210,951.78 were paid, according to official records.
The casino describes itself as a charitable gaming facility which offers a variety of table games, as well as a restaurant and bar, according to its website.
The property, which consists of 23 3/4 acres and a 29,000-square-foot building is assessed for tax purposes at $1.9 million, according to town records
Potts, with offices in Scottsdale, Arizona, purchased the facility in 2011 for $1.3 million, according to official records.
The facility opened under different owners in the 1970s as a greyhound racing track. The ownership has changed several time during the course of its existence.
Greyhound racing ceased in 2008, but the track continued to operate as a simulcast wagering facility, with bettors wagering on live races taking place at other racetracks around the county. That practice stopped in late 2010.
Charity gambling has been a part of the Belmont facility’s operation since 2006. By sponsoring gaming nights, non-profit organizations are eligible to receive 35% of the gross revenue generated by table games, such as blackjack, craps or roulette. Last year, charities received just over $317,000 through table games at the casino, according to Ryan Gloddy, the casino’s manager.
