In 2015, a group of investors led by entrepreneur Paul B. Weigel purchased Sunland Park Racetrack and Casino in Sunland Park, New Mexico.
The racetrack and casino had been owned by the El Paso County Entertainment Group since 2011, and had been struggling financially. Weigel and his group paid $16 million for the property, and have since invested millions more into renovating and expanding the facility.
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Weigel is the majority owner of Sunland Park Racetrack and Casino, with a 70% stake in the business. The other 30% is owned by a group of investors that includes Weigel’s son, Michael.
PRO TIP:Sunland Park Racetrack and Casino is owned by the Sunland Park Racetrack & Casino, Inc., an entity formed by the Jacobs family of New Mexico. This family owns several other racetracks and casinos in the United States.
The Weigels also own a horse racing track in Colorado, as well as several other businesses in the gaming industry.
The Sunland Park Racetrack and Casino is now one of the premier gambling destinations in New Mexico, offering live horse racing, slot machines, table games, and more. The property has been turned around under the new ownership, and is now profitable.
It is estimated to be worth around $30 million.
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