Gaming And Leisu Stock Price, News & Analysis

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.

Gaming and Leisure Properties (NASDAQ: GLPI) reported its financial results for Q4 and the year ending December 31, 2021. Total revenue reached $298.3 million, slightly down from $300.2 million in 2020. Net income decreased to $119.6 million compared to $169.3 million the previous year. Despite this, Funds from Operations (FFO) remained robust at $178 million. The company declared a first-quarter 2022 dividend of $0.69 per share. GLPI has diversified its tenant base through partnerships with major gaming operators and completed acquisitions, positioning itself for future growth in the gaming sector.

Gaming and Leisure Properties (NASDAQ: GLPI) will release its 2021 fourth quarter financial results after market close on February 24, 2022. A conference call is scheduled for February 25, 2022, at 10:00 a.m. ET, where management will discuss the quarterly results and engage in a Q&A session. The call will be accessible through the Company’s website. Additionally, a playback option will be available for 90 days following the call.

Penn National Gaming reported strong Q4 2021 results, with revenues of $1.6 billion, up $545.1 million YoY. Net income reached $44.8 million, a significant increase from $12.7 million in the previous year. The company authorized a $750 million share repurchase program to enhance shareholder value. Looking ahead, Penn National set 2022 revenue guidance between $6.07 billion and $6.39 billion, alongside an Adjusted EBITDAR forecast of $1.85 billion to $1.95 billion. Strategic acquisitions and technology upgrades are expected to drive growth.

Gaming and Leisure Properties (NASDAQ: GLPI) announced an income tax allocation for its 2021 distributions, totaling $2.90 per share. The company's tax return for 2021 has yet to be filed, prompting the allocation calculations to rely on the best available information as of the announcement date. Notably, shareholders are advised to consult their tax advisors as the tax implications for REIT distributions can differ by jurisdiction.

GLPI specializes in acquiring and financing properties to lease to gaming operators under triple-net lease agreements.

Gaming and Leisure Properties (NASDAQ: GLPI) has completed the acquisition of Live! Casino & Hotel Maryland for $1.14 billion, including a partnership for future developments with The Cordish Companies. The deal involves assuming $363 million in debt and issuing $200 million in operating partnership units, funded from cash reserves. Additionally, GLPI sold Hollywood Casino Baton Rouge for $28.2 million and established a new master lease with Casino Queen for combined rent of approximately $21.4 million. The Live! Maryland lease includes an initial annual rent of $75 million.

Gaming and Leisure Properties (GLPI) declared a special cash dividend of $0.24 per share, payable on January 7, 2022 to shareholders on record by December 27, 2021. The company continues its commitment to regular quarterly dividends, with future payments subject to Board review. GLPI specializes in acquiring and leasing real estate to gaming operators under triple-net lease agreements, wherein tenants cover all property-related expenses. This strategic approach positions GLPI favorably within the gaming industry.

Gaming and Leisure Properties (GLPI) has priced a public offering of $800 million in aggregate principal amount of 3.250% Senior Notes Due 2032. The Notes will be issued by its operating partnership and components are expected to close by December 13, 2021. Proceeds will primarily fund the acquisition of properties from The Cordish Companies, with plans to repay existing credit facilities if acquisitions do not close. The offering is made under an effective shelf registration statement filed with the SEC.