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PENN Entertainment, Inc. reported resilient property level performance and record online sports betting revenue for Q1 2024. The company hired Aaron LaBerge as CTO to drive technology strategy. Revenues totaled $1.6 billion, with a net loss of $114.9 million. The Northeast segment led in revenues, while the Interactive segment saw a loss. Total liquidity stood at $1.9 billion, with $903.6 million in cash.
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Gaming and Leisure Properties, Inc. (GLPI) reported strong financial results for the first quarter of 2024, showcasing growth in total revenue, income from operations, and adjusted EBITDA. The company achieved record first-quarter results across key financial metrics, demonstrating stable cash flow generation. GLPI's strategic portfolio expansion and disciplined capital investment approach position it well for continued growth and dividend increases. The acquisition of Tioga Downs Casino Resort further diversifies GLPI's portfolio, highlighting the company's commitment to long-term partnerships and growth. GLPI's updated 2024 guidance forecasts solid AFFO, reflecting confidence in its operational resilience and financial strength.
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Gaming and Leisure Properties, Inc. appoints Debra Martin Chase as a new independent director to fill a vacancy on the Board of Directors. Ms. Chase, a highly accomplished entertainment industry professional, brings over 30 years of experience in motion picture and television production, along with a strong legal background. She is known for her trailblazing achievements as the first female African American producer with a deal at a major motion picture studio. With a track record of successful films grossing over $500 million at the box office, Ms. Chase's appointment is expected to enhance the diverse perspectives within the board and contribute to driving growth in shareholder value.
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Gaming and Leisure Properties, Inc. (GLPI) will release its 2024 first quarter financial results on April 25, 2024, followed by a conference call on April 26, 2024, led by Peter M. Carlino, Chairman, and CEO. The call will cover the quarter's performance, recent events, and a Q&A session.
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Gaming and Leisure Properties, Inc. (GLPI) reported record financial results for Q4 and year-end 2023. Total revenue for Q4 was $369.0 million, up 9.7% YoY, with net income of $217.3 million. Full-year revenue reached $1,440.4 million, showing growth across all key metrics. GLPI's stable tenant base and strategic acquisitions drove these results, with over $1.1 billion in transactions completed in 2023.
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PENN Entertainment, Inc. (PENN) reported strong financial results for Q4 2023, highlighting solid property performance and growth in the digital business. Revenue was $1.37 billion with an EBITDAR of $476.4 million. The Interactive segment saw revenues of $31.5 million and an EBITDA loss of $333.8 million, attributed to the launch of ESPN BET. The company's liquidity stood at $2.1 billion with $1.1 billion in cash and cash equivalents.
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Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) acquired the real estate assets of Tioga Downs Casino Resort for $175.0 million and entered into a triple-net master lease agreement with American Racing & Entertainment, LLC for an initial 30-year term. The initial annual rent for the new master lease is $14.5 million, representing an 8.3% capitalization rate. The property features a 32,600 sq. ft. gaming floor, a 2,500 sq. ft. FanDuel sports book, a 160-room hotel, a 5/8-mile harness horse track, 7 food and beverage locations, and an 18-hole championship golf course. The acquisition expands GLPI's portfolio to 62 properties across 19 states with 8 tenants. The transaction was funded with cash on hand and the issuance of $20.0 million in OP units.
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Gaming and Leisure Properties, Inc. (GLPI) will release its 2023 fourth quarter financial results on February 27, 2024, followed by a conference call on February 28, 2024. The call will include a review of the quarter's results, recent events, and a question-and-answer period. A webcast and replay will be available on the company's website. Investors can participate in the telephone conference call by dialing in at least five minutes prior to the start time.
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Gaming and Leisure Properties, Inc. announced the income tax allocation for federal income tax purposes of its aggregate distributions in 2023, totaling $3.15 per share of common stock. The tax return for the year ended December 31, 2023, has not been filed, and the income tax allocation has been calculated using the best available information. Shareholders are encouraged to consult with their tax advisors regarding their specific federal, state, and local income tax treatment of the Company’s distributions.
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Gaming and Leisure Properties, Inc. (GLPI) declared a fourth quarter 2023 cash dividend of $0.73 per share of its common stock. The dividend is payable on December 22, 2023, to shareholders of record on December 8, 2023. The fourth quarter 2022 cash dividend was $0.705 per share. The company intends to pay regular quarterly cash dividends for the foreseeable future, subject to review and discretion by the Board of Directors.
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Gaming and Leisure Properties, Inc.
Nasdaq:GLPI
GLPI Rankings
GLPI Stock Data
12.00B
259.33M
4.38%
91.74%
1.87%
Lessors of Nonresidential Buildings (except Miniwarehouses)
Real Estate and Rental and Leasing
United States of America
WYOMISSING
About GLPI
gaming and leisure properties, inc. (the “company” or “glpi”) is a self-administered and self-managed pennsylvania reit that was incorporated on february 13, 2013 as a wholly-owned subsidiary of penn national gaming, inc. (“penn”). on november 1, 2013, penn completed the tax-free spin-off of glpi by distributing the common stock it held in glpi to penn’s shareholders. glpi owns substantially all of the assets associated with the real property interests related to penn’s gaming operations, as well as the assets and liabilities of louisiana casino cruises, inc. (“hollywood casino baton rouge”) and penn cecil maryland, inc. (“hollywood casino perryville”). glpi’s tenants include penn tenant, llc, a subsidiary of penn, which leases the real estate assets of 18 facilities related to penn’s operations, pursuant to a master lease agreement and casino queen in east st. louis, illinois. glpi elected on its u.s. federal income tax return for the taxable year beginning on january 1, 2014 to be tr