Might 1st, Toronto, Canada-based Clairvest Group Inc., a non-public fairness business chief for over 30 years, has acquired a licensed gaming operation, together with Clairvest Fairness Companions VI and ECL Leisure LLC. clarified. Constructing the premier historic horse racing facility in Southern New Hampshire.
Plans to open a everlasting NHCG historic horse racing facility:
Clairvest and ECL will proceed to handle NHCG at its present location in the intervening time. However the finish of plans for a big, everlasting NHCG historic horse racing facility in Nashua, which it hopes to open in late 2024, may be very close to.
On this regard, Clairvest President and Managing Director Michael Wagman stated: “We’re delighted to be partnering with ECL and their skilled staff on this gaming challenge. Mixed with ECL’s intensive expertise and confirmed monitor document in constructing and working HHR property, NHCG would be the main gaming venue within the native market. We’re assured that it is going to be profitable and supply each leisure and speedy monetary advantages to the group.”
ECL Managing Associate Marc Falcone added: “After working with Michael for a number of years, we selected to companion with Clairvest due to their intensive expertise and repute within the gaming sector. NHCG has change into one of the vital widespread HHR gaming platforms within the New Hampshire market. We sit up for working with the Clairvest staff over the following few years to construct a
New funding:
NHCG’s funding is Clairvest’s 62nd platform funding and eleventh funding within the Clairvest/CEP VI joint funding pool, capitalized at US$850 million.
Moreover, the deal marks Clairvest’s fifteenth funding within the gaming area, following Clairvest’s profitable journey within the gaming business.
Homeowners of many historic horse racing amenities:
ECL Leisure is a seasoned gaming operator who owns and manages many historic horse racing (HHR) properties in Kentucky, together with the Kentucky Downs Mint. As well as, Clairvest and ECL accomplished the acquisition of NHCG, LLC and River Property & Hospitality Group LLC, which handle the Fortunate Moose On line casino and Tavern and River On line casino & Sports activities Bar in Nashua, New Hampshire (collectively, the acquired companies are “NHCG”).
As well as, NHCG was established in 2006 with a charity gaming endorsement in New Hampshire, providing 32 housebank tables and poker video games in addition to commonplace meals and beverage companies.
Two years in the past in June, New Hampshire handed a legislation permitting pari-mutuel betting on historic racetracks at 15 properties with Recreation of Likelihood licenses.
NHCG owns one in every of two HHR licenses in Nashua and can formally debut HHR in October 2022 with 65 machines.
