On May 1, Clairvest Group Inc., a leader in the private equity industry for over 30 years and based in Toronto, Canada, revealed that together with Clairvest Equity Partners VI and ECL Entertainment LLC, has obtained licensed gaming operations that will allow them to construct the premier, historic horse racing facility in southern New Hampshire.
Plans to open a permanent NHCG historic horse racing facility:
Clairvest and ECL plan to manage NHCG at its current locations for now. However, the end of planning is very close for a big permanent NHCG historic horse racing facility in Nashua, which they want to open in late 2024.
In this regard, Michael Wagman, President and Managing Director of Clairvest, said: “We are excited to partner with ECL and their seasoned team on this gaming project. 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.”
Marc Falcone, Managing Partner of ECL, added: “After several years of building a relationship with Michael, 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.”
NHCG’s investment is 62nd platform investment of Clairvest and 11th investment in the Clairvest / CEP VI co-investment pool which is capitalized at US$850 million.
Moreover, this transaction marks Clairvest’s 15th investment in the gaming space, following Clairvest’s triumphant journey in the gaming industry.
Owner of many historical horse racing facilities:
ECL Entertainment is an accomplished gaming operator, owning and managing many historical horse racing (HHR) properties in Kentucky involving the Mint at Kentucky Downs. In addition, Clairvest and ECL completed the purchase of NHCG, LLC and the River Property & Hospitality Group LLC, which manage the Lucky Moose Casino and Tavern and the River Casino & Sports Bar, both found in Nashua, New Hampshire (the purchased businesses are collectively “NHCG”).
What’s more, NHCG was established in 2006 following the approval of charitable gaming in New Hampshire, with 32 house-banked table and poker games and standard food and beverage services.
Two years ago in June, New Hampshire passed a law permitting pari-mutuel betting on historic horse racing facilities at 15 establishments that owned a games of chance license.
NHCG possess one of the two HHR licenses in Nashua and officially debuted HHR in October 2022 with 65 machines.