Gaming and Leisure Properties buys Sunland Park real estate for $183.75m
Gaming and Leisure Properties said it agreed to buy the real estate assets of Sunland Park Racetrack & Casino in New Mexico for $183.75 million. The deal includes a 25-year initial lease with two 10-year renewal options and a 2% annual rent escalator; Strategic Gaming Management will continue operating the venue.
The acquisition expands GLPI’s property portfolio and its relationship with Sunland Park’s operator.