Gaming And Leisu Stock Price, News & Analysis

PENN Entertainment reported a 5.2% year-over-year revenue increase to $1.6 billion for Q2 2022, with adjusted EBITDAR at $504.5 million, down 14.0% from the prior year. Net income fell to $26.1 million, marking a sharp decline from $198.7 million in Q2 2021. Despite economic challenges, the company remains positive, maintaining full-year revenue guidance of $6.15 billion to $6.55 billion. PENN repurchased $167 million in stock, reinforcing commitment to shareholder value. The mychoice database saw significant growth, adding 1.2 million registrations, indicating strong customer engagement.

Gaming and Leisure Properties (GLPI) reported strong Q2 2022 financial results, with total revenue rising to $326.5 million from $317.8 million year-over-year. Notable metrics include net income of $155.8 million, FFO of $215.3 million, and AFFO of $231.6 million. Significant transactions include the $1 billion acquisition of Bally's Rhode Island casinos, contributing $76.3 million in annual rent. GLPI plans to enhance shareholder returns and maintain a robust capital structure despite rising interest rates. The company estimates AFFO guidance for 2022 between $908 million and $920 million.

Gaming and Leisure Properties (NASDAQ: GLPI) will release its 2022 Q2 financial results on July 28, 2022, after market close. The conference call is scheduled for July 29, 2022, at 10:00 a.m. ET, where CEO Peter M. Carlino and the management team will discuss the results and recent developments. Interested stakeholders can access the call via the Investor Relations section of the company's website. A replay will be available for 90 days. The company specializes in acquiring and leasing real estate properties to gaming operators.

Gaming and Leisure Properties (GLPI) announced the pricing of its public offering to sell 6,900,000 shares of common stock, generating approximately $308.8 million in gross proceeds. The offering is expected to close on July 1, 2022. Proceeds will partially finance the acquisition of Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel. Should third-party approvals not be timely received, GLPI will instead acquire the Hard Rock Hotel & Casino Biloxi. The offering is not contingent upon the Bally's acquisitions and may also fund general corporate purposes.

Gaming and Leisure Properties (GLPI) has initiated an underwritten public offering of 6,900,000 shares of common stock, with a potential additional 1,035,000 shares. The proceeds will partially finance the acquisition of real estate from Bally's Corporation, specifically Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel. Should regulatory approvals for Lincoln not be obtained, GLPI plans to acquire Hard Rock Hotel & Casino Biloxi instead. The offering is not contingent on completing these acquisitions and may also fund working capital and general purposes.

Bally's Corporation has entered a binding term sheet with GLP Capital to sell its Rhode Island casino properties for $1 billion. The transaction includes a leaseback agreement allowing Bally's to manage operations uninterrupted. The new properties will be added to Bally's existing Master Lease with an incremental rent of $76.3 million. Additionally, GLP will provide up to $200 million for deposit pre-funding. If necessary approvals for Lincoln are delayed, GLP may acquire the Hard Rock Hotel & Casino Biloxi for $635 million instead.

Gaming and Leisure Properties (GLPI) announced a $1 billion acquisition of Bally’s Rhode Island casino properties, including Twin River Lincoln Casino Resort and Tiverton Casino & Hotel. The transaction, subject to regulatory approvals, aims to diversify GLPI's portfolio, marking its expansion into the 18th U.S. jurisdiction. It is expected to be immediately accretive at a 7.6% capitalization rate, with incremental rent of $76.3 million. GLPI plans to fund the deal through debt, equity, and OP units, while maintaining a conservative Master Lease structure for downside protection.

Gaming and Leisure Properties (NASDAQ: GLPI) has declared a cash dividend of $0.705 per share for Q2 2022, increasing from $0.69 in Q1. This dividend is payable on June 24, 2022 to shareholders on record by June 10, 2022. The Board of Directors indicated that while they aim to maintain regular dividends, future payments will be reviewed quarterly. GLPI focuses on acquiring and leasing real estate to gaming operators under triple-net leases.

Penn National Gaming reported Q1 2022 revenues of $1.56 billion, up 22.7% year-over-year. Net income fell to $51.6 million, with a net income margin of 3.3%

Adjusted EBITDAR was $494.7 million, reflecting a 10.7% increase but a margin decline of 344 bps. The company raised its 2022 revenue guidance to $6.15-$6.55 billion. Share repurchases totaled $175.1 million. Total liquidity stands at $2.48 billion, with net debt increasing to $923.5 million.