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August 29. 2014 9:16PM

Lakes Region Casino for sale last two months; asking price $3.5 million, manager says


The Lakes Region Casino, shown in this February photo, is now for sale. (DAN SEUFERT/Union Leader Correspondent)

BELMONT — The Lakes Region Casino, a local favorite for area charitable gamblers, is for sale.

The property, which was once a greyhound racing site, has been on the market the past two months, said the casino’s manager, Ryan Gloddy.

The asking price is $3.5 million, Gloddy said.

The building is a 35,000-square-foot structure on Route 106. It was built in 1975 and first used a dog track. Dog racing was dropped about six years ago, as was betting on live racing events that were simulcast in the building, a company representative said.

The track was then converted to a full-service charitable gaming facility now frequented by locals. The name was changed from “The Lodge at Belmont” to its current name.

A large share of the casino’s profits go to area boys’ and girls’ clubs and American Legion charities. There are at least 19 charities in the area that the casino supports, Gloddy said.

The casino features a table gaming room, offering roulette, craps and cash poker games, including blackjack, Blackjack Bonus, Let It Ride, Three Card Poker and N.H. Hold’Em.

There is also a bingo room, and the lodge offers nightly poker tournaments, some of which guarantee the winner $1,000. That is one of the highest payouts at the casino, Gloddy said.

The casino has about 35 employees who aren’t sure about their future.

“We don’t know what’s going to happen,” Gloddy said. “I guess it depends on the next owner.”

The current owner is Arizona businessman Craig Potts.

In March 2013, the casino shut down its slot machines when state officials ordered it to stop using Visa cards as jackpot payouts.

It then resumed slot machine operations, but with jackpots that paid in points to be redeemed for merchandise or other in-house gaming options.

dseufert@newstote.com



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