Sunland Park Racetrack & Casino is entering a new chapter, with new ownership planning to invest in the historic property while preserving its ties to horse racing and the local community.
Strategic Gaming Management, LLC, known as SGM, acquired the operation from the Fulton family in a deal valued at approximately $301 million. Led by CEO J. Grant Lincoln, the company sees opportunities to refresh the property and expand its entertainment appeal.
For visitors comparing New Mexico casinos, the transition raises an important question: What could change at this longtime border-region destination?
Who Owns Sunland Park Racetrack & Casino?
SGM acquired the full operation, then sold the land and buildings to Gaming and Leisure Properties, Inc., or GLPI, for approximately $183.75 million.
Under this arrangement, called a sale-leaseback, SGM runs the business while leasing the real estate from GLPI. SGM retained the gaming operations and related non-real-estate assets, reported at roughly $117 million of the purchase price.
The lease began with annual rent of about $15 million and includes yearly increases of 2%. It is a triple-net lease, meaning SGM also takes responsibility for property expenses such as taxes, insurance, and maintenance.
The acquisition ended roughly 25 years of Fulton family ownership. New Mexico regulators approved the transfers of the gaming and racing licenses, allowing the property to continue operating under its new ownership.
A Historic Destination Near El Paso
Located in Sunland Park, New Mexico, on the western edge of El Paso, Texas, the property opened in 1959. Its history and location give it an identity that extends beyond the casino floor.
The approximately 157-acre site combines casino gaming, live horse racing, and other amenities. Reported features include:
- A 25,000-square-foot gaming floor with about 738 slot machines and 12 electronic gaming tables.
- A one-mile racetrack featuring Thoroughbred and Quarter Horse racing.
- A 733-seat racing stadium.
- Simulcast wagering and a ballroom accommodating about 600 people.
- A third-party-operated hotel with approximately 78 rooms.
The Sunland Park Derby is among the track’s best-known events. Racing remains an important part of the property’s appeal—and a feature SGM intends to build on rather than leave behind.
What Is Planned for the Sunland Park Casino?
Lincoln has described the property as a solid operation with room for a refresh. His stated goals include modernizing the casino, strengthening its entertainment offerings, and making more of its horse racing heritage.
That direction suggests an effort to improve the existing experience while protecting the customer loyalty built over decades.
However, a commitment to modernization is not the same as a fully announced construction project. The information available for this article does not establish a detailed renovation budget, a complete project scope, or firm completion dates.
Visitors should therefore distinguish between the company’s broader investment goals and specific improvements that have been formally announced.
Familiar Leadership Supports the Transition
The ownership change also brought continuity in day-to-day operations.
Longtime general counsel and compliance officer Fred Heinrich was elevated to president, overseeing operations and strategy. Existing management, including General Manager Kyle Lim, and much of the staff remained in place.
Keeping experienced employees gives the new owner access to people who understand the property, its racing operations, and its regular customers. That knowledge can help connect future improvements with what guests already value.
Racing operations continue under director Dustin Dix, reinforcing the track’s role in the property’s future.
Where It Fits Among New Mexico Casinos
Sunland Park’s appeal rests on a combination of location, gaming, and live racing. Its proximity to El Paso places it within reach of a major neighboring market, while its long history gives it an established local identity.
SGM and GLPI have also identified underused acreage as a potential opportunity. That creates room to consider future development, though available land should not be mistaken for an approved expansion.
For people following New Mexico casinos, the key development is the pairing of an established property with an owner seeking to invest in its next phase. The direction is clear: refresh the experience, preserve the racing connection, and explore ways to broaden the entertainment offering. The details of that transformation will depend on the plans SGM formally announces and carries out.
