Racino report dubious of Raton project

ALBUQUERQUE (KRQE) - The state's sixth horse track may start live races this year, but it may not be in Raton

That's according to a recommendation from a New Mexico Racing Commission hearing officer, who said in a report released last week that commissioners might want to look at other sites for horseracing.

However, if commissioners decide to go with Canadian investor Michael Moldenhauer and his La Mesa Racetrack and Casino project in Raton, they should take a closer look at Moldenhauer, the hearing officer recommended.

"There's some question as to whether or not he's financially suitable," Racing Commission Executive Director India Hatch said.

The $50 million racino was supposed to begin holding live horse races last Memorial Day. But the New Mexico Gaming Control Board voided the facility's gaming license in May after owners allegedly didn't meet license conditions. Then the track's racing license expired at the end of 2010.

Still, Moldenhauer keeps fighting to get the project back on track.

"It's the worst economic times in this country's history since the Great Depression," said Sam Bregman, Moldenhauer's attorney. "And, yet, he's still willing to do this."

Bregman said Moldenhauer has the money to complete the project.

"If given the green light today, I believe absolutely this project could be completed in this calendar year," he said.

However, Racing Commission Hearing Officer Robert McNeill, an Albuquerque attorney, suggested that commissioners could consider other sites for the horse track.

"That is scary," Bregman said.

Hatch said Moldenhauer reapplied for his racing license. No one else has filed an application for it, she said.

Moldenhauer, who must have both a racing license and gaming license to move forward, has appealed his voided gaming license to the state Court of Appeals, which is in the early stages of considering it.

Still, whatever happens, all involved believe that after months of battling, a decision has to be made soon. And while the Racing Commission is scheduled to address La Mesa at its regular meeting next week, a decision may not soon be forthcoming.

That's because Commission Chair Marty Cope resigned last month, and three other commissioners' terms have expired although they will continue to serve until Gov. Susana Martinez appoints new members.

"We're hoping with a new Racing Commission things will be different and reasonable minds will prevail," Bregman said.

Today, except for the weed growth, the casino site looks almost exactly the same as it did 10 months ago when contractors began construction.

"It's pretty much kind of falling apart or not looking too good, I guess," Hatch said.

And that is not good news for the people of Raton who were hoping that the sounds of slot machines and trumpets signaling the beginning of horse races would mean jobs and money to jump-start the local economy.