Strategic Gaming Management completes $301 million Sunland Park acquisition

Strategic Gaming Management completed its acquisition of Sunland Park Racetrack & Casino for $301 million, the company announced. Following the closing, Strategic Gaming Management sold the real property to Gaming and Leisure Properties (NASDAQ: GLPI) in a sale-leaseback transaction.

The acquisition represents the third purchase by Strategic Gaming Management over the past two years. Sunland Park operates 738 slots and 12 electronic gaming tables across 25,000 square feet of gaming space in New Mexico. The property includes a 1-mile Thoroughbred and Quarter Horse track with a 733-seat stadium and sits on approximately 157 acres.

Strategic Gaming Management named Matthew Flandermeyer as chief financial officer effective immediately. Flandermeyer previously served as CFO of Golden Entertainment (NASDAQ: GDEN) for nine years before owning fast-casual restaurants and taverns. During his tenure at Golden Entertainment, he oversaw finance, business development, IT, compliance, legal, risk management and accounting functions through the company's growth and public listing on NASDAQ.

The company also promoted Fred Heinrich to president of Sunland Park. Heinrich previously served as general counsel and compliance officer and will now oversee operations and strategic business aspects.

Strategic Gaming Management operates four properties across Nevada, South Dakota and New Mexico. The company was founded in 2009 by J. Grant Lincoln with the acquisition of Baldini's in Reno, Nevada.

You May Also Be Interested In

• VivoPower shifts focus to AI data centers, revises unit spinoff plans
• Aon plc (AON) files mixed shelf
• Alibaba To Ban Claude Code In Workplace Over Alleged Backdoor Risks - Reuters