Gaming And Leisu Stock Price, News & Analysis

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.

Gaming and Leisure Properties (GLPI) reported its Q1 2022 financial results with total revenue of $315.0 million, up from $301.5 million in Q1 2021. Net income decreased to $121.7 million from $127.2 million, while funds from operations (FFO) dropped to $180.3 million from $183.6 million. The company expanded its portfolio with significant acquisitions, including Live! Casino properties from Cordish and Bally's casinos, worth approximately $839 million. GLPI announced a dividend of $0.69 per share, reinforcing its commitment to shareholder value.

Gaming and Leisure Properties (NASDAQ: GLPI) will release its Q1 2022 financial results on April 28, 2022, after market close. A conference call is scheduled for April 29 at 10:00 a.m. ET, hosted by CEO Peter M. Carlino and senior management, to discuss the results and answer questions. Investors can access the live call through the company's Investor Relations website. A replay will be available for 90 days. GLPI specializes in acquiring and leasing real estate to gaming operators under triple-net lease arrangements.

Gaming and Leisure Properties (NASDAQ: GLPI) announced the acquisition of land and real estate assets from Bally's Corporation for $150 million. This includes three casinos in Black Hawk, CO, and the Quad Cities Casino & Hotel in Rock Island, IL, now under an existing master lease. The initial rent has increased by $12 million annually, with adjustments based on the Consumer Price Index (CPI) parameters including a 1% floor and 2% ceiling.

Gaming and Leisure Properties (GLPI) recently announced the acquisition of land and real estate assets for Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh from The Cordish Companies for approximately $674 million. This transaction was funded through the assumption of $423 million in debt and issuance of $137 million in operating partnership units. A master lease with Cordish was established, providing an initial annual cash rent of $50 million over a 39-year term, with a 1.75% rent escalation starting in year three. The acquisition enhances GLPI's presence in the Pennsylvania market.