Earnings summaries and quarterly performance for Gaming & Leisure Properties.
Executive leadership at Gaming & Leisure Properties.
Board of directors at Gaming & Leisure Properties.
Research analysts who have asked questions during Gaming & Leisure Properties earnings calls.
Barry Jonas
Truist Securities
4 questions for GLPI
Also covers: BALY, BYD, CHDN +15 more
CB
Chad Beynon
Macquarie
4 questions for GLPI
Also covers: ACEL, AGS, AMC +30 more
Greg McGinniss
Scotiabank
4 questions for GLPI
Also covers: BRX, COLD, EPRT +14 more
Todd Thomas
KeyBanc Capital Markets
4 questions for GLPI
Also covers: AAT, AKR, BRX +20 more
Brad Heffern
RBC Capital Markets
3 questions for GLPI
Also covers: ADC, AMH, AVB +15 more
Daniel Guglielmo
Capital One
3 questions for GLPI
Also covers: ARKO, CHDN, CZR +7 more
DK
David Katz
Jefferies Financial Group Inc.
3 questions for GLPI
Also covers: AGS, BALY, BYD +34 more
MG
Mitch Germain
Citizens JMP
3 questions for GLPI
Also covers: ALEX, CIGI, CWK +13 more
Rich Hightower
Barclays
3 questions for GLPI
Also covers: ADC, AMH, AVB +18 more
RF
Robin Farley
UBS
3 questions for GLPI
Also covers: CCL, CHH, CUK +17 more
RK
Ronald Kamdem
Morgan Stanley
3 questions for GLPI
Also covers: AAT, ADC, AHR +36 more
AP
Anthony Paolone
JPMorgan Chase & Co.
2 questions for GLPI
Also covers: ARE, BDN, BNL +29 more
CB
Caitlin Burrows
Goldman Sachs
2 questions for GLPI
Also covers: ALX, BNL, BRX +19 more
RV
Ravi Vaidya
Mizuho
2 questions for GLPI
Also covers: AAT, CUBE, EXR +9 more
SR
Smedes Rose
Citigroup
2 questions for GLPI
Also covers: ADC, DRH, EPR +16 more
BR
Bennett Rose
Citigroup
1 question for GLPI
Also covers: ADC, DRH, EPR +8 more
Chris Darling
Green Street
1 question for GLPI
Also covers: APLE, DRH, HST +6 more
CM
Colin Mansfield
CBRE Institutional Research
1 question for GLPI
Also covers: BALY, LVS
Dan Guglielmo
Capital One Financial Corporation
1 question for GLPI
Also covers: ARKO, EPRT, LINE +3 more
HS
Haendel St. Juste
Mizuho Financial Group
1 question for GLPI
Also covers: AAT, ADC, AIV +21 more
Jay Kornreich
Wedbush Securities
1 question for GLPI
Also covers: APLE, BNL, EPRT +6 more
Jenny Li
Morgan Stanley
1 question for GLPI
Also covers: EXR, PSA, VICI
John Kilichowski
Wells Fargo & Company
1 question for GLPI
Also covers: ADC, CTRE, EPRT +15 more
MH
Michael Herron
Green Tree Advisors
1 question for GLPI
RM
R.J. Milligan
Raymond James
1 question for GLPI
Also covers: ADC, CTO, FCPT +5 more
WJ
William John Kilichowski
Wells Fargo
1 question for GLPI
Also covers: ADC, CTRE, EPR +14 more
Recent press releases and 8-K filings for GLPI.
Gaming and Leisure Properties, Inc. Reports Record Q3 2025 Results and Updates Full-Year Guidance
GLPI
Earnings
Guidance Update
New Projects/Investments
- Gaming and Leisure Properties, Inc. (GLPI) reported record third quarter 2025 financial results, with Total Revenue of $397.6 million, AFFO of $282.0 million, and Adjusted EBITDA of $366.4 million. Diluted earnings per share were $0.85 and AFFO per diluted share was $0.97.
- The company updated its full-year 2025 AFFO guidance to a range of $1.115 billion to $1.118 billion, or $3.86 to $3.88 per diluted share, reflecting recent financings and development projects.
- GLPI announced significant new investments, including the $183.75 million acquisition of Sunland Park Racetrack & Casino at an 8.2% cap rate, a $225 million commitment for Caesars Republic Sonoma County, and a $467 million commitment for Live! Casino & Hotel Virginia.
- During Q3 2025 and subsequent to quarter-end, GLPI funded $130 million for Hollywood Casino Joliet and $125.4 million for Bally's Chicago, and issued $1.3 billion in senior unsecured notes while selling 7.59 million shares under forward sale agreements for $363.3 million.
Oct 31, 2025, 3:16 PM
GLPI Reports Strong Q3 2025 Results and Raises Full-Year AFFO Guidance
GLPI
Earnings
Guidance Update
New Projects/Investments
- GLPI reported strong Q3 2025 results, with total income from real estate exceeding Q3 2024 by over $12 million and operating expenses decreasing by $53.5 million.
- The company increased its full-year 2025 AFFO guidance to a range of $3.86 to $3.88 per diluted share.
- In the last 60 days, GLPI deployed $875 million of capital across three transactions at a blended cap rate of 9.3%, which is expected to add over 5% to current annualized cash rent. The company also has over $3 billion in its transaction pipeline.
- GLPI strengthened its balance sheet by selling 7.6 million shares for $363.3 million and issuing $1.3 billion in new bonds, raising over $680 million of capital. Its leverage ratio stands at 4.4 times, which is below its target.
- The company indicated it is unlikely to tap the equity market at current valuations, preferring debt financing for future commitments, which would keep leverage at approximately 5.1 times.
Oct 31, 2025, 1:00 PM
GLPI Announces Q3 2025 Financial Results and Updated Guidance
GLPI
Earnings
Guidance Update
New Projects/Investments
- Gaming and Leisure Properties, Inc. reported Q3 2025 Diluted Earnings per Share of $0.85, Adjusted Funds from Operations (AFFO) of $282.0 million, and Adjusted EBITDA of $366.4 million.
- The company updated its 2025 current guidance, projecting AFFO between $1,115 million and $1,118 million and AFFO per share between $3.86 and $3.88.
- Recent strategic activities include the October 15, 2025 acquisition of Sunland Park Racetrack and Casino for $183.75 million (8.2% cap rate), a $467 million commitment for Cordish's Live! Virginia Casino & Hotel, and initial funding of $125.4 million for Bally's Chicago.
- Financing activities in Q3 2025 included the issuance of $600 million of Senior Notes due 2033 (5.25%) and $700 million of Senior Notes due 2037 (5.75%), alongside the redemption of $975 million of Senior Notes due 2026, and the sale of 7.59 million shares for $363.3 million.
Oct 31, 2025, 1:00 PM
GLPI to Acquire Land and Fund Live! Casino & Hotel Virginia Project
GLPI
New Projects/Investments
M&A
- Gaming and Leisure Properties, Inc. (GLPI) announced an agreement to acquire the real estate for the future Live! Casino and Hotel Virginia for $27 million and committed to fund $440 million in hard costs for its development.
- The transaction, which carries an 8.0% cap rate on both the land purchase and hard cost funding, is anticipated to be accretive to GLPI's operating results.
- GLPI expects to fund the land purchase in Q1 2026, with the remaining $440 million committed financing drawn from the second half of 2026 through the first quarter of 2028.
- This development marks the fourth Cordish property for which GLPI will own the real estate assets, expanding its portfolio to its 21st state.
- The permanent facility is projected to open in late 2027, with a temporary casino scheduled for a late January 2026 opening.
Oct 27, 2025, 8:15 PM
Strategic Gaming Management Completes Acquisition and Announces Management Changes
GLPI
M&A
Management Change
New Projects/Investments
- Strategic Gaming Management, LLC (SGM) completed its acquisition of Sunland Park Racetrack & Casino for $301 million on October 15, 2025.
- Immediately following the acquisition, SGM sold the real property to Gaming and Leisure Properties, Inc. (GLPI) in a sale-leaseback transaction.
- This acquisition represents SGM's third in the last two years and adds a property with 738 slots and 12 EGTs across 25,000 square feet of gaming space.
- SGM announced the appointment of Matthew Flandermeyer as Chief Financial Officer of Strategic Gaming Management and Fred Heinrich as President of Sunland Park, effective immediately.
Oct 15, 2025, 8:01 PM
GLPI to Acquire Sunland Park Racetrack & Casino Real Estate Assets
GLPI
M&A
New Projects/Investments
- 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.
- The transaction is expected to be immediately accretive to AFFO per share upon closing, which is anticipated on October 15, 2025.
- This acquisition expands GLPI's relationship with Strategic Gaming Management, LLC, adding a fourth asset to their existing triple-net master lease agreement.
Oct 1, 2025, 11:00 AM
Gaming & Leisure Properties Commits to Financing Caesars Republic Sonoma County Resort
GLPI
New Projects/Investments
- 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.
- 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%.
- 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.
- 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.
Sep 2, 2025, 11:00 AM
Gaming & Leisure Properties, Inc. Closes $1.3 Billion Notes Offering
GLPI
Debt Issuance
Repayment of Indebtedness
New Projects/Investments
- Gaming and Leisure Properties, Inc. (GLPI) closed a $1.3 billion notes offering on August 27, 2025.
- The offering included two tranches: 5.250% senior notes due 2033 and 5.750% senior notes due 2037.
- 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.
Aug 27, 2025, 12:00 AM
Quarterly earnings call transcripts for Gaming & Leisure Properties.
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