Gaming And Leisu Stock Price, News & Analysis

Gaming and Leisure Properties (GLPI) has announced a public offering of 7,700,000 shares of common stock, with an additional 1,155,000 shares underwriter option. Proceeds will partially fund acquisitions of real properties from The Cordish Companies, including Live! Casino & Hotel locations. If acquisitions do not close, funds will be used for working capital and general corporate purposes. The offering is under the effective shelf registration statement filed with the SEC.

Gaming and Leisure Properties (GLPI) announced plans to acquire real estate assets from The Cordish Companies for approximately $1.81 billion. This transaction includes Live! Casino & Hotel Maryland, Philadelphia, and Pittsburgh, with an immediate leaseback agreement in place. The deal features an implied capitalization rate of 6.9% and initial annual cash rent of $125 million. Additionally, GLPI and Cordish will explore future development partnerships. This acquisition is expected to be accretive at closing, enhancing GLPI's portfolio and tenant roster.

Gaming and Leisure Properties (NASDAQ: GLPI) has declared a cash dividend of $0.67 per share for the fourth quarter of 2021. This dividend is scheduled for payment on December 23, 2021, to shareholders of record on December 9, 2021. The company intends to continue regular quarterly dividends, subject to Board approval. GLPI specializes in acquiring, financing, and owning real estate properties leased to gaming operators under triple-net lease arrangements.

Penn National Gaming reported Q3 2021 revenues of $1.5 billion, up $382.1 million YoY, and adjusted EBITDAR of $480.3 million, representing a 31.8% margin. Net income dropped to $86.1 million from $141.2 million last year. Key milestones included the launch of the Barstool Sportsbook app in five states, further expanding to ten states, and the acquisition of Score Media and Gaming. Challenges in Q3 arose from Hurricane Ida and the Delta variant, impacting profits by roughly $30 million. The company maintains a strong balance sheet with $3.4 billion in liquidity.

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.