SGM completes $301m acquisition of Sunland Park Racetrack & Casino
In addition to the official closing, the company also appointed Matthew Flandermeyer as CFO, effective immediately, having previously served in the same position for Golden Entertainment.
Key Points
- Following the closing of Sunland Park Racetrack & Casino for $301m, SGM immediately sold the real property to GLPI as part of a sale-leaseback transaction for a total cost of $183.75m
- Fred Heinrich, current General Counsel & Compliance Officer, will serve as President of the facility, overseeing operations and direct strategic aspects for the business
Strategic Gaming Management (SGM) has officially completed its $301m acquisition of Sunland Park Racetrack & Casino in southern New Mexico, immediately selling the real property to Gaming and Leisure Properties (GLPI) as part of sale-leaseback transaction.
“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,” SGM Founder and CEO J. Grant Lincoln said.
“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.”
In addition to the official closing, the company also appointed Matthew Flandermeyer as its new CFO, effective immediately, having previously served in the same position for Golden Entertainment over the past nine years.
“To me, Strategic represents an incredible opportunity for growth which I clearly recognize from prior experience. I am excited to collaborate with Grant and the team, building on what they already have in place and contributing to the growth that lies ahead,” Flandermeyer said.
Sunland Park Racetrack & Casino currently offers 738 slot machines and 12 electronic gaming tables across 25,000 sq ft of casino space, as well as a one-mile thoroughbred and quarter-horse racetrack with a 733-seat stadium.
Good to know: GLPI originally announced it was set to acquire the real estate assets of Sunland Park Racetrack & Casino for a total cost of $183.75m with an initial 8.2% cap rate on October 1, 2025
Fred Heinrich, current General Counsel & Compliance Officer, will serve as President of the facility, overseeing operations and direct strategic aspects for the business.
Heinrich commented on the new responsibilities, having said, “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.
“I am sure we can do remarkable things together and look forward to the next chapter for this storied property.”
While serving as Golden Entertainment CFO, Flandermeyer was responsible for all aspects of finance, business development, IT, compliance, legal, risk management and accounting functions for the company.
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