The Clairvest Group (CVG), a private equity firm, announced a partnership with ECL Entertainment to build a historical horse racing (HHR) facility in New Hampshire.
ECL owns and operates multiple HHR facilities in Kentucky, including the Mint at Kentucky Downs. On Monday, the group announced it had acquired NHCG and The River Property & Hospitality Group. And, as a result, CVG acquired NHCG’s gaming license.
NHCG operates two casinos in New Hampshire, both located in Nashua – the Lucky Moose Casino and Tavern and The River Casino & Sports Bar.
Clairvest Group plans to build a new historical horse racing casino
According to a press release, for the time being, CVG and ECL intend on operating NHCG at its current locations. The group said it plans to build a large-scale permanent facility they hope to open in 2024.
In a statement, Marc Falcone, Managing Partner of ECL, said:
“After several years of building a relationship with Michael [Wagman], we chose to partner with Clairvest given their depth of experience and positive reputation in the gaming sector. We look forward to working with the Clairvest team over the next few years to build NHCG into one of the most sought-after HHR gaming platforms in the New Hampshire market.”
Michael Wagman, President and Managing Director of Clairvest, said his company was excited to work with such a seasoned team.
“Together with ECL’s deep experience and proven track record of building and operating HHR assets, we believe NHCG will be a successful local market gaming facility and provide both entertainment and immediate economic benefits to the community.”
Clairvest is no stranger to the gaming space
The acquisition of NHCG will be Clairvest’s 15th investment in the US gambling space. Founded in 2006, NHCG was created after state lawmakers approved charitable gaming in New Hampshire.
In June 2021, New Hampshire passed legislation allowing pari-mutuel wagering on HHR. NHCG has one of the two HHR licenses in Nashua and launched HHR in October 2022 with 65 machines.