Casino landlord branches out into industrial real estate development

Gaming and Leisure Properties makes its first non gaming deal by turning an old casino site into a warehouse.

Written by the BettingEdgeHub desk, 28 October 2026

Major casino landlord Gaming and Leisure Properties is branching out from the gambling sector for the first time. The company is forming a joint venture with industrial real estate giant Prologis to redevelop a former casino site.

Old casino site transformation

The project focuses on the former Hollywood Casino Joliet location in Illinois. Penn Entertainment operated the regional venue before moving to a newly built location. This left a large plot of land available for a completely different purpose.

Prologis will act as the managing member and developer for the 262 acre property. The plan is to convert the old casino grounds into a major distribution and warehouse hub over the next five years.

Diversification for real estate investors

Gaming and Leisure Properties owns dozens of gambling venues across multiple states. Wall Street investors often watch these landlords closely to ensure they do not rely too heavily on casino operators alone.

This new partnership mimics strategies used by rival landlords to spread risk across different business sectors. Although the casino landlord collects rent without major issues, adding industrial projects helps balance the overall portfolio.

What it means for a bet

Property deals involving major gambling landlords show that real estate investors are spreading their financial risks beyond traditional casinos.

Carry on from here

Today’s betting tipsEvery price side by side, with the reasons against printed too.More rules and licensingEverything else we have written in this section.Bookmakers in United StatesOnly the ones that hold a licence where you are.The forumWhat other people are backing, and what they are avoiding.

18+. Gambling can be addictive, please play responsibly. This is a news page, not advice and not a tip. Nothing here is a promise about any result. Our calls live on the betting tips pages, with the reasons against them printed next to the reasons for them.