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Strategic Gaming Management has closed the $301 million acquisition of a racetrack and casino, before immediately transferring the property on.
The acquisition of Sunland Park Racetrack & Casino by Strategic Gaming Management (SGM) saw the company immediately sell the property on to Gaming and Leisure Properties in a sale-leaseback transaction. The $301 million transaction is the third such acquisition to take place in the last two years as SGM seeks to build its portfolio of assets in the casino space.
“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, the Company’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.”
Sunland Park is home to 738 slots and 12 electronic gaming tables across 25,000 square feet of entertainment space, as well as a one-mile Thoroughbred and Quarter Horse track with a 733-seat stadium. The facilities allow it to play host to the Sunland Park Derby, held on its 157 acres.
More changes at Strategic Gaming Management
As well as the acquisition, SGM announced that the former Chief Financial Officer of Golden Entertainment, Matthew Flandermeyer, will be stepping into the role of CFO of Strategic Gaming Management, effective immediately.
“To me, Strategic represents an incredible opportunity for growth, which I clearly recognize from prior experience,” said Flandermeyer. “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.”
The company also announced that Fred Heinrich would become the President of Sunland Park, also effective immediately. The role will see Heinrich oversee operations and direct strategic aspects of the business
“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,” he said. “I am sure we can do remarkable things together and look forward to the next chapter for this storied property.”
Featured image: Wikimedia Commons, licensed under CC BY-SA 3.0
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Brazil’s Federal Police says that it has dismantled a suspected money laundering scheme linked to international drug trafficking and online betting operations.
As part of Operation Narco Bet, authorities said the criminal network was allegedly laundering drug money through companies linked to the online betting industry, which investigators referred to as BETS. They said in a press release that the organization used “sophisticated money laundering techniques, involving cryptocurrency transactions and international transfers, to conceal the illicit origin of the funds and disguise their assets.”
The operation took place on Tuesday (October 14), with help from the German Federal Criminal Police, or BKA, which carried out a precautionary arrest of one of the suspects currently in Germany. Authorities explained that this case is a continuation of Operation Narco Vela, which targeted maritime drug trafficking from the Brazilian coast.
Altogether, police carried out 11 arrest warrants and 19 search and seizure warrants across the states of Santa Catarina, São Paulo, Rio de Janeiro, and Minas Gerais. The court also ordered the freezing of assets and funds worth more than BRL 630 million ($116 million). Officials said the measure aims “to deprive the criminal organization of resources and compensate for damages resulting from its illegal activities.”
Brazilian influencer reportedly arrested in raid
According to Correio Braziliense, influencer Bruno Alexssander Souza Silva, also known as Buzeira, was preventively arrested as part of the operation. He’s 28 years old and has more than 15 million followers on Instagram. Reports say he was already under investigation by the Civil Police for money laundering, involvement in a criminal organization, and illegal gambling, mainly due to raffles and prize draws run through his Instagram account.
Inside the seized yacht. Credit: Sao Paolo Federal Police / Instagram
In a video shared by the São Paulo Federal Police on Instagram, a large number of vehicles were shown being seized during the raid, including a yacht.
The suspects may face charges for money laundering and criminal conspiracy. Investigators believe the scheme involved international operations that used the online betting industry as a front to make drug trafficking profits appear legitimate.
Featured image: São Paulo Federal Police
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The Curaçao Gaming Control Board says it’s still running smoothly, even after some recent changes to its leadership and how it’s being overseen by the government.
The GCB explained that with the entry into force of the National Ordinance on Games of Chance (LOK) on 24 December 2024, “the GCB has been designated as the Curaçao Gaming Authority (CGA) and will continue operations under this name.” The authority is “led by a Board of Directors under the supervision of a Supervisory Board.”
Curaçao Gaming Authority confirms government’s transfer of responsibilities
A change in ministerial responsibility was also confirmed. “Until recently, the CGA fell under the political-administrative responsibility of the Minister of Finance; since 19 August 2025 this responsibility has been transferred by the government to the Minister of Justice, as announced by the government on 13 October 2025,” the statement said.
In the context of transparency, the CGA addressed recent developments within its governance. “The CGA confirms that the Supervisory Board resigned in mid-September. The process to appoint new members by the government has already begun,” the authority stated.
The CGA added that “this development has no impact on the performance of the CGA’s supervisory duties, including the continued implementation of the National Ordinance on Games of Chance (LOK). All licensing and supervisory activities continue uninterrupted.”
The Australian Communications and Media Authority has repeatedly called on officials in the small Dutch Caribbean island of Curaçao to stop allowing online casinos to target Australian players. As it continues blacklisting more operators, the media watchdog pointed out that a large number of the nearly 1,000 blocked websites are licensed in Curaçao.
The island, located off the coast of Venezuela, has become a popular base for online casinos because of its loose regulatory environment. The Curaçao Gaming Authority has admitted that many companies registered there also hold foreign B2B licenses. The setup is illegal and can be misleading for both players and service providers, potentially encouraging other companies to get involved in unlawful gambling activities.
Featured image: Canva
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Flutter UKI has announced plans to close 57 Paddy Power shops across the UK and Ireland, after a review of the high street estate. As a result, almost 250 staff are at risk of redundancy. Of the closures, 28 shops will close in Ireland, 28 in the UK and 1 in Northern Ireland.
The company has confirmed that impacted colleagues will be offered redeployment opportunities where possible. However, it’s expected that the closures will unfortunately lead to some job losses. Flutter told ReadWrite that it is consulting closely with colleagues and providing support to those affected by these changes.
“In light of increasing cost pressures and challenging market conditions, we can confirm that we will be closing 28 shops across Ireland within the next month,” said a Flutter UKI spokesperson. “We are continually reviewing our high street estate, but it remains a key part of our offer to customers, and we are seeking to innovate and invest where we can as we adapt to different customer trends and needs.”
Why are Paddy Power shops closing?
Flutter put the reason for the shop closures down to challenging market conditions, with rising financial pressure in the UK coming from National Insurance fees, energy costs, and tough trading conditions. A spokesperson for the company also highlighted that, while worries around rising taxes are not directly responsible for the closures, greater financial pressures could lead to more closures and job losses not just at Flutter-owned businesses but across the industry.
“While today’s closures are not directly related to the uncertainty surrounding the Budget, a higher gambling tax could have a significant impact on jobs and investment across the industry and drive more customers into the open arms of unlicensed operators on the illegal, black market,” they said.
Indeed, Paddy Power is not the only UK brand to face closures, with William Hill also announcing one in 10 shops will be forced to close.
Featured image: Wikimedia Commons, licensed under CC BY-SA 4.0
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