STOCK TITAN
  1. Home
  2. News
  3. GLPI

Gaming and Leisure Properties, Inc. - GLPI STOCK NEWS

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.

News

Gaming and Leisure Properties, Inc. Reports Record Fourth Quarter Results, Establishes 2024 Guidance and Announces 2024 First Quarter Dividend of $0.76 Per Share

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.18%
Tags
dividends earnings
-
News

PENN Entertainment Reports Fourth Quarter Results

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.67%
Tags
earnings
-
News

Gaming and Leisure Properties Acquires Real Estate Assets of Tioga Downs Casino Resort for $175 Million

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.2%
Tags
acquisition
News

Gaming and Leisure Properties, Inc. Schedules Fourth Quarter 2023 Earnings Release and Conference Call

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.33%
Tags
earnings
-
News

Gaming and Leisure Properties Inc. Announces 2023 Distribution Tax Treatment

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.39%
Tags
none
-
News

Gaming and Leisure Properties, Inc. Declares Fourth Quarter 2023 Cash Dividend of $0.73 Per Share

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
Tags
dividends earnings
News

Gaming and Leisure Properties Applauds Major League Baseball’s Landmark Decision to Bring the MLB Athletics to Las Vegas

Rhea-AI Summary
Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) Statement on MLB's Approval of Athletics' Move to Las Vegas
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.57%
Tags
none
-
News

Gaming and Leisure Properties Announces Pricing of $400,000,000 of 6.750% Senior Notes Due 2033

Rhea-AI Summary
Gaming and Leisure Properties, Inc. (GLPI) Announces Pricing of $400.0 Million Senior Notes Due 2033 at 6.750%. GLPI's operating partnership, GLP Capital, L.P., and GLP Financing II, Inc., will issue the Notes at 98.196% of par value. The Notes will be senior unsecured obligations guaranteed by GLPI, with the net proceeds intended for various corporate purposes, including property acquisition, development, and general business needs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.57%
Tags
none
-
News

PENN Entertainment Reports Third Quarter Results

Rhea-AI Summary
PENN Entertainment, Inc. reported stable property level performance in Q3, with revenues of $1.42 billion and adjusted EBITDAR of $523.4 million. The company saw relative strength in several locations, including Ohio, Kansas, Massachusetts, and Missouri. They also announced plans to launch ESPN BET on November 14, which is expected to expand their digital ecosystem and drive customer engagement. Total liquidity as of September 30, 2023, was $2.3 billion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.88%
Tags
earnings
News

Gaming And Leisure Properties Reports Record Third Quarter 2023 Results And Updates 2023 Full Year Guidance

Rhea-AI Summary
Gaming and Leisure Properties (GLPI) announced financial results for Q3 2023, reporting total revenue of $359.6 million, a 7.7% increase YoY. Net income for the quarter was $189.3 million. GLPI also expanded its footprint through the acquisition of land associated with the Hard Rock Casino development project in Rockford, IL for $100 million and the acquisition of land and improvements at Casino Queen Marquette for $32.72 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.35%
Tags
earnings

FAQ

What is the current stock price of Gaming and Leisure Properties (GLPI)?

The current stock price of Gaming and Leisure Properties (GLPI) is $50.92 as of November 22, 2024.

What is the market cap of Gaming and Leisure Properties (GLPI)?

The market cap of Gaming and Leisure Properties (GLPI) is approximately 14.0B.

What is Gaming and Leisure Properties, Inc. (GLPI)?

GLPI is a self-managed and self-administered Pennsylvania REIT specializing in acquiring, financing, and owning real estate properties leased to gaming operators.

When was GLPI established?

GLPI was incorporated on February 13, 2013, as a spin-off from Penn National Gaming, Inc.

What types of properties does GLPI own?

GLPI owns gaming and related facilities, including assets from Louisiana Casino Cruises, Inc. and Penn Cecil Maryland, Inc.

Who are GLPI’s primary tenants?

GLPI’s primary tenants include Penn Tenant, LLC, a subsidiary of Penn, and the Casino Queen in East St. Louis, Illinois.

What is a triple-net lease arrangement?

In a triple-net lease arrangement, the tenant is responsible for property maintenance, insurance, taxes, and all utilities.

How does GLPI generate income?

GLPI generates income through rental payments from its tenants leasing gaming and related facilities.

What is GLPI’s financial performance for 2023?

GLPI reported record results for the fourth quarter and the year ending December 31, 2023.

What are GLPI’s growth initiatives?

GLPI focuses on strategic acquisitions and effective property management to drive growth and shareholder value.

What is GLPI’s approach to debt management?

GLPI maintains a balanced debt structure to navigate economic fluctuations effectively.

Why is GLPI a good investment?

GLPI offers a stable investment opportunity with consistent rental income, strong financial performance, and strategic growth initiatives.

Stock GLPI logo
Gaming and Leisure Properties, Inc.

Nasdaq:GLPI

GLPI Rankings

#702 Ranked by Market Cap
#438 Ranked by Dividends

GLPI Stock Data

14.00B
262.70M
4.26%
96.72%
1.92%
REIT - Specialty
Real Estate Investment Trusts
Link
United States of America
WYOMISSING