Gaming And Leisure Properties (GLPI) Enters First Joint Venture Beyond Gaming Real Estate
October 29, 2026 - 03:33
Gaming and Leisure Properties has launched its first joint venture outside the gaming real estate sector, teaming up with Prologis to redevelop the former Hollywood Casino Joliet site in Illinois into an industrial and logistics park. The project will transform the property into a Class A warehouse and distribution complex, marking a notable shift for a company long focused on casino-related assets.
Prologis, one of the largest logistics real estate investment trusts, will co-lead the redevelopment of the Joliet site, which previously housed the Hollywood Casino Joliet. The move signals a strategy to extract value from underused land as casino operations relocate or consolidate.
For Gaming and Leisure Properties, the venture offers a way to diversify beyond its core gaming portfolio while keeping exposure to stable industrial demand. The Joliet project will be watched closely as a test of whether the company can apply its real estate expertise to a different asset class. Terms of the partnership and a timeline for construction were not disclosed.
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