WYOMISSING, Pa., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (the "Company") announced the income tax allocation for federal income tax purposes of its aggregate distributions in 2024 of $3.04 per share of common stock (CUSIP: 36467J108). Gaming and Leisure Properties' tax return for the year ended December 31, 2024, has not yet been filed.  As a result, the income tax allocation for the distributions noted below have been calculated using the best available informati ...

WYOMISSING, Pa., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) announced today that the Company will release its 2024 fourth quarter financial results after the market close on Thursday, February 20, 2025. The Company will host a conference call at 11:00 a.m. ET on Friday, February 21, 2025. During the conference call, Peter M. Carlino, Chairman and Chief Executive Officer, and senior management, will review the quarter’s results and performance, discuss recent events ...

WYOMISSING, Pa., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (“GLPI” or “the Company”), announced that it has completed the previously announced $395 million acquisition of the land and real estate assets of Bally’s Kansas City Casino and Bally’s Shreveport Casino & Hotel from Bally’s Corporation (NYSE: BALY) (“Bally’s”). The two properties have been put into a new Bally’s Master Lease that is cross-defaulted with the Company’s existing Bally’s Master Lease, with init ...

Financial Data and Key Metrics - Total income from real estate increased by $25.8 million in Q3 2024 compared to Q3 2023, driven by acquisitions and lease adjustments [6] - Operating expenses increased by $22.6 million, primarily due to a non-cash increase in the provision for credit losses related to the Tropicana lease reclassification [7] - Full-year 2024 AFFO guidance is $3.74 to $3.76 per diluted share and OP units, excluding future transactions [8] - Rent coverage ratios remain strong, ranging from 1.9 to 2.59 on master leases as of the prior quarter [8] Business Line Data and Key Metrics - The Tioga acquisition contributed $3.6 million in income, Rockford added $4.6 million, and Casino Queen Marquette and Baton Rouge land side development added $1.5 million [6] - Strategic acquisition increased cash income by $2.3 million, while Bally Chicago land acquisition added $1.1 million [6] - Bally's Tropicana funding increased by $0.4 million, and escalators and percentage rent adjustments added $5.3 million in cash income [6] Market Data and Key Metrics - The company completed its inaugural 30-year bond issuance, extending the weighted average maturity of liabilities and institutionalizing its asset class [10] - The Ione Loan transaction with a tribal partner includes a 5-year loan with an option to convert into a long-term lease, marking a first-of-its-kind structure in tribal gaming [14][15] Company Strategy and Industry Competition - The company's disciplined capital investment approach has resulted in $2 billion in development investment activity in 2024 with an 8.4% blended yield [4] - GLPI is positioned as a preferred development funding and real estate partner for operators of all sizes, leveraging its gaming and real estate expertise [4] - The company is exploring new revenue streams through innovative structures like the Ione Loan, which could be replicated with other tribes [15][16] Management Commentary on Operating Environment and Future Outlook - Management is cautiously optimistic about the potential for the Ione Loan structure to become a repeatable funding model for tribal gaming [15] - The company is focused on maintaining a strong balance sheet and liquidity to support future growth opportunities [9][10] - GLPI is actively engaging with tribes and other stakeholders to expand its pipeline of development projects [11] Other Important Information - The company entered into forward sale agreements to sell 8.2 million shares for net sales of $409.3 million [8] - The zero-coupon treasury bill matures in 2025 with an applied yield of 4.9% [8] - The Chicago development project funding is expected to commence in Q1 2025, with further details to be provided in 2025 guidance [55][86] Q&A Session Summary Question: Ione Loan Structure and Tribal Gaming - The Ione Loan structure is unique, offering a 5-year loan with an option to convert into a long-term lease, providing tribes with an alternative funding model [14][15] - The company is cautiously optimistic about the repeatability of this structure and is engaging with other tribes to explore similar opportunities [15][16] Question: Development vs. Cash-Flowing Assets - The company is open to both development projects and acquiring cash-flowing assets, leveraging its expertise in property development to create value [21][23] - Management emphasized the importance of maintaining a disciplined approach to capital deployment, balancing risk and reward [23] Question: Las Vegas Tropicana Site Redevelopment - The company's primary focus is on preserving the value of the remaining parcel in Las Vegas, with Bally's continuing to refine plans for the integrated resort [31][32] - The A's stadium project is being financed independently, and GLPI will not be involved in its development [32] Question: Tribal Gaming Opportunity and Risk - The company sees significant potential in tribal gaming but acknowledges the need to better understand the risk profile before allocating more capital [61][62] - The Ione Loan structure could be applied to various tribal funding needs, including expansions and refinancing [51][52] Question: Equity Funding and Leverage - The company maintains a conservative approach to leverage, with a target range of 5 to 5.5x EBITDA, and has intentionally kept leverage low to accommodate future transactions [41][42] - GLPI is focused on ensuring existing shareholders benefit from new announcements and is measured in its use of the ATM program [69][70] Question: Transaction Pricing and Market Dynamics - Management noted that the current rate environment has led to increased discussions around potential transactions, but bid-ask spreads remain a challenge [79] - The company remains disciplined in its underwriting, ensuring transactions are accretive and aligned with its cost of capital [66]

GAMING AND LEISURE PROPERTIES REPORTS RECORD THIRD QUARTER 2024 RESULTS WYOMISSING, PA — October 24, 2024 — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) ("GLPI" or the "Company") today announced financial results for the quarter ended September 30, 2024. Financial Highlights Three Months Ended September 30, | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|----------------|-------|--------------| | (in millions, except per share data) \nTo ...

Gaming and Leisure Properties (GLPI) came out with quarterly funds from operations (FFO) of $0.95 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to FFO of $0.92 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 1.06%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.94 per share when it actually produced FFO of $0.94, delivering no surprise. Over the last f ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36124 Gaming and Leisure Properties, Inc. (Exact name of registrant as specified in its charter) Pennsylv ...

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About Gaming and Leisure Properties GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased ...

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Q2 2024 Earnings Call Transcript July 26, 2024 10:00 AM ET Brad Heffern - RBC Capital Markets Jay Kornreich - Wedbush Securities Barry Jonas - Truist Securities David Katz - Jefferies Haendel St. Juste - Mizhuo Securities Smedes Rose - Citi Greg McGinnis - Scotiabank Daniel Guglielmo - Capital One Securities Ronald Kamdem - Morgan Stanley Shaun Kelley - Bank of America Robin Farley - UBS Chad Beynon - Macquarie John DeCree - CBRE Thank you, Maria, and good m ...