Welcome to our dedicated page for Gaming And Leisu news (Ticker: GLPI), a resource for investors and traders seeking the latest updates and insights on Gaming And Leisu stock.
Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) is a gaming-focused real estate investment trust that regularly issues news on its financial performance, capital allocation and development activity. This news page aggregates GLPI press releases and third-party coverage so readers can follow how the company’s portfolio of gaming real estate and triple-net leases evolves over time.
GLPI’s announcements frequently cover quarterly earnings results, including updates on revenue, net income, Funds From Operations (FFO), Adjusted Funds From Operations (AFFO) and Adjusted EBITDA. Earnings releases often include management commentary on tenant performance, rent coverage metrics, and the impact of acquisitions and development funding on GLPI’s cash flows and dividend capacity.
Another recurring theme in GLPI news is transaction and development activity. The company issues detailed updates on acquisitions of casino and racetrack real estate, sale-leaseback transactions, and funding commitments for new or expanded properties. Recent examples include agreements to acquire the real estate of Sunland Park Racetrack & Casino, commitments to fund projects such as Bally’s Chicago, Live! Casino & Hotel Virginia and Caesars Republic Sonoma County, and financing arrangements for developments with PENN Entertainment and tribal and tribal-affiliated entities.
GLPI also reports on capital markets and balance sheet actions, such as senior note offerings, forward equity sales and the planned use of proceeds to refinance existing debt and support growth projects. Dividend declarations and board-level decisions, including changes in the composition of the board of directors, are additional topics that appear in company news.
Investors, analysts and other market participants can use this page to review GLPI’s historical and recent announcements in one place, monitor updates on key development projects and financing transactions, and understand how management describes the company’s strategy and risk considerations over time.
Gaming and Leisure Properties (NASDAQ: GLPI) has announced a second quarter 2024 cash dividend of $0.76 per share, an increase from the $0.72 per share paid in the second quarter of 2023.
The dividend is payable on June 21, 2024, to shareholders of record on June 7, 2024. While the company plans to continue regular quarterly dividends, each is subject to quarterly review and Board approval.
Gaming and Leisure Properties (GLPI) announced the acquisition of three casino resorts: Silverado Franklin Hotel & Gaming Complex, Deadwood Mountain Grand casino, and Baldini’s Casino for $105 million. The deal includes $5 million for capital improvements, totaling a $110 million investment. GLPI and Strategic Gaming Management entered into two 25-year triple-net leases with initial annual cash rent of $9.2 million, representing an 8.4% capitalization rate. The transaction is expected to be immediately accretive, diversifying GLPI's portfolio to 65 properties across 20 states. GLPI secured a right of first refusal on future acquisitions until Strategic’s adjusted EBITDAR from GLPI assets reaches $40 million. The properties in South Dakota and Nevada add significant gaming and hospitality assets to GLPI's portfolio, with notable amenities and recent capital investments.
PENN Entertainment, Inc. reported resilient property level performance and record online sports betting revenue for Q1 2024. The company hired Aaron LaBerge as CTO to drive technology strategy. Revenues totaled $1.6 billion, with a net loss of $114.9 million. The Northeast segment led in revenues, while the Interactive segment saw a loss. Total liquidity stood at $1.9 billion, with $903.6 million in cash.
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