Planned NM Track Loses Gaming License

A developer planning to build a racetrack casino has lost his gaming license.

The New Mexico Gaming Control Board has revoked a gaming license for a planned racetrack casino in Raton near the Colorado border.

The developer, Canadian Michael Moldenhauer, missed the deadline to get a temporary casino up and running. That prompted the board to revoke the license during a meeting in Albuquerque May 4.

The board initially authorized a casino license for the planned $50 million track last June.

The New Mexico Racing Commission followed with its own meeting May 4 and decided to consider disciplinary action to revoke the developer’s racing license at its May 19 meeting.

Officials said the developer had to meet two conditions for the license; one was to begin the track’s first race meet May 28, and the other was to have a gaming license.