SUNLAND PARK, N.M. (KFOX14/CBS4) — The Sunland Park Racetrack & Casino has been bought for $301 million.
Strategic Gaming Management, LLC (SGM), a company out of the Midwest and Mountain West in the U.S., made the announcement on Wednesday.
“With the acquisition of Sunland, we are well on our way to our goal of being a scale operator of regional assets with rich histories, competitive moats, and very strong and loyal customer bases,” said J. Grant Lincoln, SGM’s founder and CEO. “We will continue to invest in our assets and thoughtfully grow our platform while continuing to pursue opportunities that meet our strategic plans. We welcome the incredible Sunland Park team to the Strategic family and look forward to many years of success together.”
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SGM said Fred Heinrich will be the president of the Sunland Park casino.
“I am really excited to work with Grant and the wonderful team that exists here at Sunland, as well as the surrounding communities in this new role,” said Heinrich, who was previously SGM’s general counsel & compliance officer. “I am sure we can do remarkable things together and look forward to the next chapter for this storied property.”
According to SGM, the Sunland Racetrack & Casino offers 738 slots and has a one-mile Thoroughbred and Quarter Horse track with a 733-seat stadium.
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