Gaming and Leisure Properties Promotes Proven Gaming and Gaming REIT Industry Veterans to New Executive Leadership Positions
Gaming and Leisure Properties (GLPI) has announced the promotion of Brandon Moore to Chief Operating Officer and Desiree Burke to Chief Financial Officer, effective immediately. Moore, who retains his role as General Counsel, and Burke, who stays as Treasurer, have both been pivotal in GLPI's growth since its inception. Under their leadership, GLPI expanded from a single tenant with 19 properties to multiple tenants with 57 properties, driving growth in funds from operations (FFO) and dividends. The company focuses on leasing real estate to gaming operators under triple-net lease agreements.
- Brandon Moore and Desiree Burke have been instrumental in GLPI's growth since its establishment in 2014.
- GLPI expanded from 1 tenant and 19 properties to 6 tenants and 57 properties, diversifying its tenant base.
- The leadership changes are expected to enhance GLPI's ability to pursue additional real estate and financing transactions.
- None.
- Brandon Moore Named Chief Operating Officer -
- Desiree Burke Appointed Chief Financial Officer -
WYOMISSING, Pa., Oct. 18, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (“GLPI” or the “Company”) (NASDAQ: GLPI) today announced executive leadership promotions broadening the roles of two outstanding executives: current Executive Vice President, General Counsel and Secretary, Brandon Moore is assuming the role of Chief Operating Officer, and current Senior Vice President, Chief Accounting Officer and Treasurer, Desiree Burke has been appointed Chief Financial Officer. The Chief Operating Officer position is new at GLPI and Mr. Moore will retain his responsibilities as General Counsel and Secretary. Ms. Burke will retain her responsibilities as the Company’s Treasurer. The appointments are effective immediately. Mr. Moore and Ms. Burke will continue to report to GLPI Chairman and Chief Executive Officer, Peter Carlino.
“Brandon and Desiree have been instrumental to GLPI’s ongoing growth since we established North America’s first gaming-focused real estate investment trust,” said Peter Carlino. “They were part of the team at Penn that structured and completed the tax-free spin which created GLPI and they bring significant experience and records of accomplishments across the gaming and REIT industries to their new positions. Both have played critical roles in our growth and success over the past eight plus years, identifying and consummating transactions for GLPI with prospective and existing tenants while financing our growth with a prudent approach to allocation of our capital. In fact, during this period, GLPI has grown from a landlord with one tenant and 19 properties to 6 tenants with 57 properties, significantly diversifying our tenant base with the industry’s premiere operators and driving FFO and dividend growth. Given their experience and our long-term working relationships, I am confident that Brandon’s and Desiree’s background, expertise and knowledge will continue to prove highly valuable to GLPI as we further build the Company through additional real estate and financing transactions, project development, and innovative structures with existing and prospective tenants.”
Brandon Moore joined GLPI near its inception in 2014 as Senior Vice President and General Counsel and previously served as Vice President, Senior Corporate Counsel at Penn National Gaming, Inc. (now PENN Entertainment, Inc.) from February 2010 to 2014 where he was a senior member of the legal team responsible for a variety of transactional, regulatory and general legal matters. Prior to joining PENN Entertainment, Mr. Moore was Of Counsel to Ballard Spahr, LLP, a Philadelphia based law firm where he provided advanced legal counsel to private and publicly-traded clients on a wide variety of legal, compliance and regulatory matters. He earned a B.S. Finance with high distinction in 1996 from Pennsylvania State University and received his J.D. from University of Pennsylvania Law School in 1999. Mr. Moore is a member of the Pennsylvania Bar Association.
Desiree Burke also joined GLPI near its inception in 2014 as Senior Vice President and Chief Accounting Officer. Previously, Ms. Burke served as Vice President and Chief Accounting Officer at PENN Entertainment since November 2009. She also served as Penn National’s Vice President and Corporate Controller from November 2005 to October 2009. Prior to joining Penn National, Ms. Burke was Executive Vice President/Director of Financial Reporting and Control for MBNA America Bank, N.A. Ms. Burke is a CPA and earned a Masters in Accounting from Widener University in 1996 and a Bachelor’s Degree in Accounting from The University of Delaware in 1987.
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 properties and the business conducted on the leased properties.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding the impact of the executive appointments. Forward-looking statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “intends,” “may,” “will,” “should” or “anticipates” or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: the successful transition of the executives into their new leadership roles; GLPI's ability to maintain its status as a REIT; our ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to GLPI; the impact of our substantial indebtedness on our future operations; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and other factors described in GLPI’s Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPI’s behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.
Contact
Gaming and Leisure Properties, Inc.
Matthew Demchyk, Chief Investment Officer
610/401-2900
investorinquiries@glpropinc.com
Investor Relations
Joseph Jaffoni, Richard Land, James Leahy at JCIR
212/835-8500
glpi@jcir.com
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