Gaming And Leisu Stock Price, News & Analysis

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.

Gaming and Leisure Properties (NASDAQ: GLPI) declared a fourth-quarter 2020 dividend of $0.60 per share, payable on December 24, 2020, to shareholders of record by November 16, 2020. The dividend consists of $0.12 in cash and $0.48 in common stock. The decision reflects COVID-19's ongoing impact on the company, though it anticipates tenants will continue fulfilling their financial obligations. Future dividends will be reviewed quarterly, with possibilities for cash-only distributions. Shareholders can choose between cash and stock for their dividends.

Gaming and Leisure Properties (GLPI) has priced its public offering of 8,000,000 shares of common stock at $36.25 per share. The offering, anticipated to close on November 3, 2020, includes a 30-day underwriter option for an additional 1,200,000 shares. The estimated net proceeds of approximately $278.9 million (or $320.8 million if the option is exercised) will support the acquisition of real property from Twin River Worldwide Holdings and Caesars Entertainment, alongside general corporate purposes and working capital needs.

Gaming and Leisure Properties (GLPI) has initiated an underwritten public offering of 8,000,000 shares of common stock, with an option for underwriters to buy an additional 1,200,000 shares. The net proceeds will partially fund the acquisitions from Twin River Worldwide Holdings and Caesars Entertainment, as well as for general corporate purposes. The offering is not contingent on the completion of these acquisitions. Notably, proceeds may also be used to reduce debt or invest in interest-bearing securities.

Gaming and Leisure Properties (GLPI) announced plans to acquire Dover Downs Hotel and Casino and Tropicana Evansville, with a combined purchase price of approximately $484 million. The transactions include a 15-year lease with Twin River for both properties, generating an initial annual cash rent of $40 million and an 8.3% capitalization rate. This acquisition aims to diversify GLPI's tenant roster and expand its footprint into Delaware and Indiana, enhancing its position in the gaming sector. The deal is anticipated to close in mid-2021, pending regulatory approvals.

Gaming and Leisure Properties (GLPI) reported record third-quarter financial results for 2020, demonstrating strong management of its gaming asset portfolio amid the pandemic. The company has collected over 99% of its contractual rents year-to-date. Third-quarter total revenue increased to $307.6 million, with a net income of $127.1 million, up from $90.5 million in 2019. GLPI strengthened financial flexibility by issuing $200 million in senior unsecured notes. Additionally, GLPI entered into a significant exchange agreement with Caesars and expanded its relationship with Twin River Worldwide Holdings.

Gaming and Leisure Properties (NASDAQ: GLPI) announced it will release its 2020 Q3 financial results post-market on October 27, 2020. A conference call will follow on October 28, 2020, at 9:00 a.m. ET, hosted by CEO Peter M. Carlino and senior management. The call will cover the quarterly performance and recent events, along with a Q&A session. Investors can access the call via the Investor Relations section of GLPI's website. A playback will be available for 90 days after the call, ensuring stakeholders remain informed about key developments.