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 (GLPI) announced an income tax allocation for federal income tax purposes for 2022 distributions amounting to $3.045 per share. The tax return for the year ended December 31, 2022, has not yet been filed, and the tax allocation has been determined using the best available data as of the press release date. Shareholders are advised to consult with their tax advisors to understand the tax implications, as state and local taxation of these distributions may differ from federal regulations.
On January 3, 2023, Gaming and Leisure Properties (NASDAQ: GLPI) finalized the acquisition of Bally's Tiverton Casino & Hotel and Bally’s Hard Rock Hotel & Casino Biloxi for $635 million. This deal increased the annual rent from the Master Lease with Bally's by $48.5 million, with a total expected normalized rent coverage of 2.0x in the first year. GLPI also retains an option to acquire Bally’s Twin River Lincoln Casino Resort for $771 million by December 31, 2024. Peter Carlino, GLPI's CEO, expressed satisfaction with expanding their lease portfolio.
Gaming and Leisure Properties (NASDAQ: GLPI) has announced a cash dividend of $0.705 per share for Q4 2022, payable on December 23, 2022, to shareholders on record by December 9, 2022. This marks an increase from last year’s $0.67 per share dividend. The company aims to maintain regular quarterly cash dividends, subject to Board approval. GLPI specializes in acquiring and leasing real estate to gaming operators under triple-net lease agreements, where tenants cover all property-related expenses.
PENN Entertainment reported Q3 2022 results, achieving $1.6 billion in revenue, a 7.5% year-over-year increase. Net income rose to $123.2 million with a net income margin of 7.6%, up from 5.7% in the prior year. Adjusted EBITDA reached $440.4 million, a 20.9% increase, while Adjusted EBITDAR decreased by 1.7% to $471.9 million, with a margin of 29.0%. The company continues to pursue growth through new land-based facilities and a strong omnichannel strategy, reaffirming its full-year guidance for revenue between $6.15 billion and $6.55 billion.
Gaming and Leisure Properties (GLPI) reported strong financial results for Q3 2022, with total revenue of $333.8 million compared to $298.7 million in the prior year. Net income surged to $226.2 million, up from $149.1 million. Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) also improved, reaching $232.8 million and $235.0 million respectively. The company executed a strategic transaction involving Bally's Corporation, generating a pre-tax gain of $67.4 million. GLPI remains confident in achieving record results and dividend growth moving forward.
Gaming and Leisure Properties (GLPI) has announced the promotion of Brandon Moore to Chief Operating Officer and Desiree Burke to Chief Financial Officer, effective immediately. Moore, who retains his role as General Counsel, and Burke, who stays as Treasurer, have both been pivotal in GLPI's growth since its inception. Under their leadership, GLPI expanded from a single tenant with 19 properties to multiple tenants with 57 properties, driving growth in funds from operations (FFO) and dividends. The company focuses on leasing real estate to gaming operators under triple-net lease agreements.
Gaming & Leisure Properties (GLPI) has announced a new master lease with PENN Entertainment (PENN) for seven properties, effective January 1, 2023. The deal includes a funding commitment of up to $225 million for relocating PENN’s Aurora riverboat casino and $350 million for the Joliet casino, along with hotel developments. The new lease will feature an initial rent of $232.2 million, with fixed annual escalations of 1.50%. This partnership aims to enhance PENN's growth through improved guest experiences and expansions in Illinois, Ohio, and Nevada.
PENN Entertainment plans to relocate riverboat casinos in Aurora and Joliet, Illinois, to land-based facilities as part of an estimated $850 million project. The company will build a new hotel at Hollywood Columbus, Ohio, and a second hotel tower at M Resort, Nevada. An agreement with Gaming and Leisure Properties will facilitate up to $575 million in funding for these projects. The Aurora project alone has a budget of $360 million, aiming to create hundreds of jobs and enhance local entertainment offerings, subject to municipal approvals.
Gaming and Leisure Properties (NASDAQ: GLPI) will release its Q3 2022 financial results on October 27, 2022, following the market close. A conference call will take place on October 28, 2022, at 10:00 a.m. ET. CEO Peter M. Carlino and senior management will discuss the results, recent events, and engage in a Q&A session. The call can be accessed via the company’s investor relations website, with a playback available for 90 days after the event.
Gaming and Leisure Properties (GLPI) has completed the sale of its non-land real estate assets and PENN Entertainment's equity interests in Tropicana Las Vegas to Bally's Corporation for approximately $145 million in cash. GLPI continues to own the land and entered into a 50-year ground lease with Bally's, starting with an annual rent of $10.5 million. This ground lease is guaranteed by Bally's and linked to its Master Lease with GLPI. The Tropicana spans 35 acres and features 1,470 rooms and extensive casino and event space.
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