Barry Jonas

Chad Beynon

Greg McGinniss

Todd Thomas

Brad Heffern

Daniel Guglielmo

David Katz

Mitch Germain

Robin Farley

Ronald Kamdem

Anthony Paolone

Caitlin Burrows

Ravi Vaidya

Rich Hightower

Smedes Rose

Bennett Rose

Chris Darling

Colin Mansfield

Dan Guglielmo

Haendel St. Juste

Jay Kornreich

Jenny Li

John Kilichowski

Michael Herron

Richard Hightower

R.J. Milligan

William John Kilichowski

- Gaming and Leisure Properties, Inc. (GLPI) intends to acquire the real estate assets of **Sunland Park Racetrack & Casino** for **$183.75 million** at an initial **8.2% cap rate**, with annual rent escalating at **2.0%** per annum.  **[1575965_75d96da1d661469f89f5fe41574253ad_0]** 
- The transaction is expected to be immediately **accretive to AFFO per share** upon closing, which is anticipated on **October 15, 2025**.  **[1575965_75d96da1d661469f89f5fe41574253ad_0]** 
- This acquisition expands GLPI's relationship with **Strategic Gaming Management, LLC**, adding a fourth asset to their existing triple-net master lease agreement.  **[1575965_75d96da1d661469f89f5fe41574253ad_0]**

GLPI to Acquire Sunland Park Racetrack & Casino Real Estate Assets

- **Gaming and Leisure Properties (GLPI)** announced a **$225 million** commitment to serve as the lead real estate financing partner for the new Caesars Republic Sonoma County integrated resort.  **[1575965_f56460f243864286999e40bf2f0c8bb1_1]** 
- The financing structure includes a **$180 million** delayed draw term loan at a fixed rate of **12.50%** and a **$45 million** term loan B with a current yield to maturity of **13.95%**, resulting in a blended interest rate of approximately **12.79%**.  **[1575965_f56460f243864286999e40bf2f0c8bb1_0]** **[1575965_f56460f243864286999e40bf2f0c8bb1_1]** 
- Upon or prior to maturity of the 6-year term loans, the property will transition to a **45-year lease** for an amount no less than **$112.5 million**, with GLPI subleasing it back at a **9.75% cap rate**.  **[1575965_f56460f243864286999e40bf2f0c8bb1_0]** **[1575965_f56460f243864286999e40bf2f0c8bb1_1]** 
- The project, a partnership with Caesars Entertainment and the Dry Creek Rancheria Band of Pomo Indians, is expected to be completed by summer **2027** and expands GLPI's presence in the California market.  **[1575965_f56460f243864286999e40bf2f0c8bb1_1]**

Gaming & Leisure Properties Commits to Financing Caesars Republic Sonoma County Resort

- Gaming and Leisure Properties, Inc. (GLPI) closed a **$1.3 billion** notes offering on **August 27, 2025**.  **[1575965_0001193125-25-189701_d79316d8k.htm:0]** 
- The offering included two tranches: **5.250% senior notes due 2033** and **5.750% senior notes due 2037**.  **[1575965_0001193125-25-189701_d79316d8k.htm:1]** 
- The net proceeds of approximately **$1.28 billion** will be used primarily to redeem **$975.0 million** of 5.375% senior unsecured notes due April 15, 2026, with the remainder allocated for working capital and general corporate purposes.  **[1575965_0001193125-25-189701_d79316d8k.htm:2]**

Gaming & Leisure Properties, Inc. Closes $1.3 Billion Notes Offering

Gaming & Leisure Properties (GLPI)