The Sunland Park Racetrack & Casino in Sunland Park, New Mexico, has agreed to sell its real estate assets to Gaming and Leisure Properties Inc. (GLPI) for $183.75m (£136.3m). Closing is scheduled for October 15th.
Strategic Gaming Management will purchase the operating assets, lease the property from GLPI, and oversee daily operations in accordance with current regulatory approvals.
On September 30th, the transaction was approved by state authorities. With effect from October 15th, the sale and transfer of Sunland Park’s racing and gaming licenses to Strategic Gaming was authorised by the New Mexico Gaming Control Board and New Mexico Racing Commission.
Regulatory Approvals, Property Details and Future Operations
In addition to supporting an existing tenant’s growth strategy, GLPI said the acquisition diversifies its portfolio and highlights the site’s underutilised acreage with potential for expansion.
With its headquarters located in Wyomissing, Pennsylvania, GLPI owns 68 gaming properties across 20 states. J. founded Strategic Gaming.
Under a larger master lease with GLPI, which also includes two casinos in Deadwood, South Dakota, and Sparks, Nevada, Grant Lincoln, a Missoula, Montana-based company, will run Sunland Park.
The casino was added after Sunland Park Racetrack opened in October 1960.
A one-mile thoroughbred and quarter horse racetrack, a 733-seat grandstand, and a 25,000-square-foot casino featuring 737 slot machines and 12 electronic table games are all part of the 157-acre complex.
A 600-person ballroom and a separate, 78-room Choice-branded hotel are also on the property. There are about 180 employees at Sunland Park, and officials have not disclosed any operational changes that have occurred since the sale.
Early January marks the start of the next live racing meet, which will last for 55 days until early April 2026. The Sunland Park Derby for three-year-olds, which awards Kentucky Derby qualifying points, will be the main event.
In order to maintain the integrity of gaming in New Mexico, regulatory authorities said its review evaluated Strategic Gaming’s credentials and financial commitment.
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