Gaming and Leisure Properties Inc. will purchase Sunland Park Racetrack and Casino for $183.75 million.

© Coady Media

By H. David Smith, StallioneSearch

SUNLAND PARK, NM—OCTOBER 4, 2025—Gaming and Leisure Properties Inc. (GLPI), a Pennsylvania-based real estate investment trust, has announced it will purchase the real estate assets of Sunland Park Racetrack and Casino for $183.75 million.

The deal is scheduled to close on October 15, pending final approvals, and will mark GLPI’s second property in New Mexico. The company already owns Zia Park Casino Hotel and Racetrack in Hobbs.

In its announcement, GLPI described Sunland Park as an “underutilized” property that offers “significant expansion and performance uplift opportunities.” The racetrack and casino serves the El Paso–Las Cruces market, which GLPI noted is characterized by strong population and income growth but remains underserved in gaming options.

The transaction will also extend GLPI’s partnership with Strategic Gaming Management, which is set to operate the Sunland Park facility following the acquisition.

"Through our acquisition of Sunland Park, we are again diversifying our property portfolio, while supporting the growth strategy of an existing tenant as we deepen our relationship with Strategic Gaming, a dynamic and growing operator," said Peter Carlino, GLPI chairman and CEO. "This accretive transaction further strengthens GLPI’s reputation as the gaming landlord of choice."

About Sunland Park Racetrack and Casino
Opened in 1959, Sunland Park Racetrack and Casino sits on 157 acres and offers a wide range of gaming and racing facilities. The property features:

• 738 slot machines and 12 electronic gaming tables across
   a 25,000-square-foot gaming floor
• A one-mile thoroughbred and quarter horse racetrack
   with seating for 733 spectators
• A 600-person ballroom, simulcast wagering area,
  and access to a 78-room third-party hotel

The facility has long been a hub for both racing and entertainment in the region, and its new ownership signals potential growth and investment for the future.

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