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) reported Q3 2021 financials with total revenue of $298.7 million, down from $307.6 million in Q3 2020. Notable increases included Income from Operations at $225.1 million (up from $200.7 million), and Net Income at $149.1 million (up from $127.1 million). Funds from Operations (FFO) climbed to $209.1 million, reflecting a solid performance. Key rental agreements, like the newly established lease with Penn National Gaming, enhance GLPI’s financial outlook. All 50 properties are operational, with strong tenant demand supporting earnings resilience.
Gaming and Leisure Properties (NASDAQ: GLPI) will announce its 2021 Q3 financial results on October 28, 2021, after market close. A conference call with CEO Peter M. Carlino and senior management is scheduled for October 29, 2021, at 10:00 a.m. ET to discuss results, performance, and a Q&A session. The call can be accessed via the company's Investor Relations website, and a playback will be available for 90 days following the call.
Gaming and Leisure Properties (GLPI) announced the appointment of JoAnne A. Epps to its Board of Directors, expanding the board to eight members. Epps, a senior advisor at Temple University and a law professor since 1985, brings extensive legal and academic experience to the board. Her past roles include Executive Vice President & Provost at Temple and Dean of its School of Law. The company believes her expertise will strengthen board diversity and enhance shareholder value as it continues to grow.
Gaming and Leisure Properties (NASDAQ: GLPI) has declared a cash dividend of $0.67 per share for Q3 2021, payable on September 24, 2021 to shareholders on record as of September 10, 2021. The company plans to continue regular quarterly dividends but will review and declare them at the discretion of its Board of Directors. GLPI operates by acquiring and leasing real estate to gaming operators under triple-net lease agreements, ensuring tenants cover all property-related expenses.
Gaming and Leisure Properties (GLPI) reported record financial results for the second quarter of 2021, with total revenue of $317.8 million, up from $262.0 million in 2020. Key metrics include net income of $138.2 million and Funds from Operations (FFO) of $195.1 million. GLPI anticipates continuous growth, projecting rent escalations from significant leases, including a $6.1 million increase from the Pinnacle Master Lease. The company has maintained strong capital returns, with a $0.67 dividend declared for the second quarter. As of July 29, 2021, all properties were operational, indicating robust recovery amidst the ongoing pandemic.
Gaming and Leisure Properties (NASDAQ: GLPI) will release its 2021 second quarter financial results on July 29, 2021, after market close. A conference call is scheduled for July 30, 2021, at 10:00 a.m. ET, where CEO Peter M. Carlino and the management team will discuss the results and recent developments. Investors can access the call via the company's Investor Relations website, with a replay available for 90 days. GLPI specializes in acquiring and owning real estate properties leased to gaming operators under triple-net lease agreements.
Gaming and Leisure Properties (NASDAQ: GLPI) has finalized its acquisition of Tropicana Evansville and Dover Downs Hotel and Casino for approximately $484 million in cash. This transaction enhances GLPI's portfolio and establishes a long-term partnership with Bally's Corporation through a triple-net lease agreement with an initial annual cash rent of $40 million. The lease spans 15 years with renewal options. The acquisition aims to bolster GLPI's regional gaming assets and operational strength, leveraging Bally's growth plans and previous successes in the gaming market.
Gaming and Leisure Properties (GLPI) declared a quarterly cash dividend of $0.67 per share for Q2 2021, marking a 3% increase from the previous quarter. The dividend is payable on June 25, 2021 to shareholders of record as of June 11, 2021.
Future dividends will be assessed quarterly by the Board of Directors at their discretion. GLPI specializes in acquiring and leasing real estate to gaming operators through triple-net lease agreements, where tenants handle all property maintenance and operations costs.
Gaming and Leisure Properties (GLPI) reported strong Q1 2021 financial results, with total revenue of $301.5 million, up from $283.5 million in Q1 2020. Net income rose to $127.2 million from $96.9 million, while FFO and AFFO showed increases to $183.6 million and $195.7 million respectively. The company announced an expansion with Bally's Corporation, acquiring casino assets for $150 million, expected to generate an additional $12 million in annual rent. All 48 properties are open, showcasing resilience post-COVID-19.
Gaming and Leisure Properties (NASDAQ: GLPI) has signed a term sheet with Bally’s Corporation (NYSE: BALY) to acquire real estate assets of Bally’s Black Hawk, CO, and a planned acquisition in Rock Island, IL, totaling $150 million. This acquisition is subject to regulatory approval and expected to close in early 2022, generating an additional $12 million in rent with a coverage ratio of 2.25x. GLPI also secured a right of first refusal for future transactions in several states and plans to convert the Tropicana into an income-generating ground lease, enhancing financial stability.
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