Welcome to our dedicated page for Gaming and Leisure Properties news (Ticker: GLPI), a resource for investors and traders seeking the latest updates and insights on Gaming and Leisure Properties stock.
Gaming and Leisure Properties, Inc. (GLPI), established in 2013 as a spin-off from Penn National Gaming, Inc., is a self-managed and self-administered Pennsylvania Real Estate Investment Trust (REIT). Specializing in acquiring, financing, and owning real estate properties to be leased to gaming operators, GLPI primarily operates under triple-net lease arrangements. This means tenants are responsible for property maintenance, insurance, taxes, and all utilities. As of now, GLPI boasts a diverse portfolio, including assets and liabilities from Louisiana Casino Cruises, Inc. (‘Hollywood Casino Baton Rouge’) and Penn Cecil Maryland, Inc. (‘Hollywood Casino Perryville’).
GLPI’s primary tenants include Penn Tenant, LLC, a subsidiary of Penn, which leases 18 properties related to Penn’s operations, and the Casino Queen in East St. Louis, Illinois. The company's portfolio spans over sixty-one gaming and related facilities, including properties leased to Caesars Entertainment Corporation.
GLPI aims to deliver consistent growth and shareholder value through strategic acquisitions and effective property management. The company recently celebrated record results for the fourth quarter and year ending December 31, 2023. With a robust financial structure and a clear focus on expanding its relationships within the gaming industry, GLPI is well-positioned for future growth and stability.
Among recent achievements, GLPI has maintained its status as a REIT, ensuring favorable tax conditions and allowing it to continue providing lucrative dividends to its shareholders. The company also focuses on maintaining a balanced debt structure, enabling it to navigate through economic fluctuations effectively.
For investors, GLPI presents a stable investment opportunity backed by a solid portfolio and strong financial performance. The company's ability to generate consistent rental income from its tenants, coupled with its strategic growth initiatives, makes it a noteworthy player in the real estate and gaming sectors.
Gaming and Leisure Properties (GLPI) will announce its 2021 Q1 financial results on April 29, 2021, post-market close. A conference call will follow at 10:00 a.m. ET on April 30, 2021, where management, led by CEO Peter M. Carlino, will discuss the results and recent developments. Investors can participate via a live webcast on the company’s website, with a replay available for up to 90 days. GLPI specializes in acquiring and owning properties leased to gaming operators under triple-net lease agreements, ensuring the tenant covers all operational costs.
Gaming and Leisure Properties (NASDAQ: GLPI) announced a Q1 2021 cash dividend of $0.65 per share, payable on March 23, 2021, to shareholders of record as of March 9, 2021. This dividend reflects the impact of 9.2 million shares issued in Q4 2020 and 8.0 million shares from stock dividends in 2020. The Board aims to pay regular dividends but will review them quarterly at its discretion. GLPI specializes in acquiring and leasing real estate properties for gaming operators under triple-net lease agreements.
Gaming and Leisure Properties (NASDAQ: GLPI) reported strong fourth-quarter 2020 results, achieving total revenue of $300.2 million. The company collected all rents due in 2020 and noted tenants' financial recovery, with all properties operational as of February 2021. Key transactions included acquiring Tropicana Evansville's real estate and the Dover Downs Hotel & Casino for $340 million and $144 million, respectively. GLPI aims to return to all-cash dividends in 2021, with a net income of $169.3 million for Q4 and $505.7 million for the full year.
Gaming and Leisure Properties (GLPI) will announce its fourth quarter 2020 financial results after market close on February 18, 2021. A conference call led by CEO Peter M. Carlino will take place on February 19, 2021, at 9:00 a.m. ET to discuss performance and recent events. Investors can access the call via the company's website and listen to a replay for 90 days afterward. GLPI specializes in real estate for gaming operators, functioning as a real estate investment trust (REIT) since 2014.
Gaming and Leisure Properties (GLPI) announced the income tax allocation for its 2020 distributions of $2.50 per share. The tax implications are laid out in detail, with distributions classified across various tax categories. Notably, the company’s tax return for 2020 has not yet been filed, and the allocation is based on the best available information as of the press release date. Shareholders are advised to consult tax advisors for specific tax treatment related to these distributions.
Gaming and Leisure Properties (GLPI) has promoted Steven Ladany to Senior Vice President, Chief Development Officer, effective immediately. Ladany, who joined GLPI in 2014, has a strong background in finance and the gaming industry, previously holding roles at Revel Casino Hotel and J.P. Morgan. CEO Peter Carlino highlighted Ladany's contributions to the company's transaction efforts and emphasized the goal of expanding the tenant roster, increasing dividends, and creating long-term value for shareholders.
Gaming and Leisure Properties (GLPI) has appointed Matthew Demchyk as Chief Investment Officer, effective immediately. Demchyk, who joined GLPI in February 2019 as Senior VP of Investments, will lead the company’s investment strategy and capital allocation. CEO Peter Carlino praised Demchyk's strategic thinking and expertise, particularly highlighting his role in the Tropicana transaction with Penn National. Demchyk has extensive experience in the REIT sector, having worked with Millennium Partners and Carlson Capital, and holds a finance degree from Villanova University.
Gaming and Leisure Properties (GLPI) announced a quarterly dividend of $0.60 per share, approved on November 5, 2020. Shareholders can choose between cash or stock for their dividends. The payout, totaling approximately $27.6 million in cash and 2.5 million shares, will be distributed on December 24, 2020. The dividend breakdown includes $0.14 per share in cash for those choosing full cash, while those opting for stock will receive shares valued at $43.3758 each. Shareholders not making an election will receive $0.12 in cash and $0.48 in stock.
Gaming and Leisure Properties (GLPI) announced new long-term leases with subsidiaries of Penn National Gaming and Casino Queen. GLPI will sell the operations of Hollywood Casino Perryville for $31.1 million while entering a 15-year lease with an initial rent of $7.77 million. Additionally, GLPI will sell Hollywood Casino Baton Rouge operations for $28.2 million but retain real estate ownership, leasing it back to Casino Queen at $21.4 million annually. Both transactions are expected to close in the second half of 2021, pending regulatory approvals.
Gaming and Leisure Properties (GLPI) announced that underwriters have exercised an option to purchase an additional 1,200,000 shares of its common stock at $36.25 per share, raising estimated net proceeds to approximately $320.8 million.
The funds will be used to partially finance acquisitions from Twin River Worldwide Holdings and Caesars Entertainment and for general corporate purposes. However, the closing of these acquisitions is not guaranteed, which introduces a level of risk regarding the intended use of the proceeds.
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