Gaming and Leisure Properties, Inc. Reports Record Fourth Quarter Results, Establishes 2025 Guidance and Announces 2025 First Quarter Dividend of $0.76 Per Share

Core Viewpoint - Gaming and Leisure Properties, Inc. (GLPI) reported record financial results for the fourth quarter and full year 2024, driven by growth across key financial metrics and strategic acquisitions [1][6]. Financial Highlights - Total revenue for Q4 2024 was $389.6 million, a 5.6% increase from $369.0 million in Q4 2023 [2]. - Income from operations for Q4 2024 was $308.2 million, up from $295.3 million in Q4 2023 [2]. - Net income for Q4 2024 reached $223.6 million, compared to $217.3 million in Q4 2023 [2]. - Funds from operations (FFO) for Q4 2024 were $287.9 million, a slight increase from $282.2 million in Q4 2023 [2]. - Adjusted funds from operations (AFFO) for Q4 2024 were $269.7 million, up from $256.6 million in Q4 2023 [2]. - Adjusted EBITDA for Q4 2024 was $354.0 million, compared to $331.4 million in Q4 2023 [2]. Strategic Transactions and Partnerships - In 2024, GLPI successfully executed four sale-leaseback transactions and several financing commitments, including the acquisition of Bally's properties in Kansas City and Shreveport [7][9]. - The company expanded its tenant portfolio to include 68 high-quality regional gaming assets [7]. - GLPI amended its credit agreement, increasing revolver capacity to $2.09 billion and extending maturity to December 2028 [9]. Portfolio and Growth Outlook - As of December 31, 2024, GLPI's portfolio consisted of interests in 68 gaming and related facilities across 20 states [18]. - The company anticipates continued financial growth in 2025, supported by its strong balance sheet and innovative financing solutions for tenants [10]. - GLPI estimates AFFO for the year ending December 31, 2025, will be between $1.105 billion and $1.121 billion, or between $3.83 and $3.88 per diluted share [16]. Recent Developments - On February 12, 2025, Boyd Gaming Corporation renewed its leases with GLPI, extending terms to April 30, 2031 [11]. - Bally's Corporation completed its merger with Standard General L.P., impacting GLPI's tenant relationships [11]. - GLPI agreed to fund construction improvements for Ameristar Casino Council Bluffs, with financing not exceeding $150 million [11].