Gaming and Leisure Properties, Inc. announced its intention to acquire the real estate assets of Sunland Park Racetrack & Casino for $183.75 million. This acquisition is structured at an initial 8.2% cap rate.
The Sunland Park Racetrack & Casino real estate assets will be included into the existing Strategic Gaming Leases. This integration will result in annual rent on the lease being based on the 8.2% cap rate.
This transaction marks an expansion of GLPI's relationship with Strategic Gaming Management and further diversifies its portfolio. The acquisition is expected to be accretive and contribute to GLPI's stable revenue streams.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.