Gaming And Leisu Stock Price, News & Analysis

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.

Gaming and Leisure Properties (GLPI) announced a dividend of $0.60 per share for Q3 2020, comprising cash and stock, to be paid on September 25, 2020. Shareholders of record as of August 17, 2020 can choose to receive their dividend in cash, stock, or a combination. The total payout will be approximately $26 million in cash and 2.8 million shares. Shareholders electing all cash will receive around $0.13 in cash and $0.47 in stock per share, while those not making an election will get $0.12 cash and $0.48 stock.

Gaming and Leisure Properties (NASDAQ: GLPI) will release its Q3 2020 financial results on October 29, 2020, after market close. A conference call is scheduled for 9:00 a.m. ET on October 30, 2020, where CEO Peter M. Carlino and senior management will discuss the results and field questions. Investors can access the call in the Investor Relations section of the company's website. A playback of the call will be available for 90 days post-conference.

Gaming and Leisure Properties (NASDAQ: GLPI) announced the approval for its Hollywood Casino Baton Rouge to relocate to a new landside facility, expecting to invest between $21-$25 million. The project aims to create around 166 construction jobs and generate a $500 million economic impact over six years. Expected features of the new facility include indoor and outdoor gaming, a Shaquille O’Neal’s Big Chicken restaurant, and a sports bar. The move is also anticipated to enhance visitation from Mississippi river cruises by freeing up dock space.

Gaming and Leisure Properties (NASDAQ: GLPI) declared its Q3 2020 dividend of $0.60 per share, payable on September 25, 2020. This consists of $0.12 cash and $0.48 in stock. The dividend reflects COVID-19's impact on operations and anticipates tenants' continued rent payments. Shareholders can choose to receive the dividend as cash or shares, with cash limited to 20% overall. The Board intends to review future dividends quarterly. The cash component of the dividend is taxable, regardless of the form of payment.

Gaming and Leisure Properties (GLPI) reported its Q2 2020 financial results, revealing total revenue of $262 million, a decrease from $289 million in Q2 2019. Despite the challenges posed by COVID-19, the company maintained a robust balance sheet and collected approximately 99% of its rental obligations, with 43 of 45 properties reopened. The company issued $500 million in 4.00% senior unsecured notes and successfully amended its credit facilities, enhancing financial flexibility. However, variable rents faced declines, impacting future cash flows.

Gaming and Leisure Properties (NASDAQ: GLPI) announces the resignation of Steven T. Snyder as Senior VP and CFO, effective August 31, 2020. The company has engaged Korn Ferry to assist in the search for his successor, considering both internal and external candidates. CEO Peter M. Carlino praised Snyder's significant contributions over the past two decades, especially during the COVID-19 challenges. GLPI aims to continue its growth and tenant diversification with a strong finance team.

Gaming and Leisure Properties (NASDAQ: GLPI) will release its 2020 Q2 financial results after the market close on July 30, 2020. A conference call will occur at 9:00 a.m. ET on July 31, 2020, where company leadership will discuss the results and recent developments. Interested parties can access the call via the Investor Relations section of the company's website. Playback will be available until August 7, 2020.