Gaming and Leisure Properties, Inc.

Gaming and Leisure Properties, Inc.

GLPI
Gaming and Leisure Properties, Inc.US flagNASDAQ
39.67
USD
+0.08
- -
11.24BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.14
5.26
5.03
4.64
4.59
4.94
5.37
5.27
5.17
5.19
5.45
5.6
5.7
5.82
Basic EPS, GAAP
0.13
1.24
1.12
1.62
1.8
1.59
1.82
2.31
2.27
2.71
2.78
2.87
2.95
3.41
Free Cash Flow per Basic Share
0.73
2.43
2.79
2.88
2.83
3.06
3.49
1.96
3.42
3.64
3.82
3.92
4.04
4.23
Dividend per Share
- -
4.4
2.2
2.4
2.5
2.58
2.74
1.05
2.69
3.05
3.16
3.04
3.12
3.17
Book Value per Share
1.55
-1.56
-2.19
11.72
11.56
10.58
9.66
11.51
12.88
14.49
15.34
15.55
16.35
17.13
Tangible Book Value per Share
0.59
-2.31
-2.93
8.47
8.15
7.31
6.49
8.85
10.18
11.99
12.98
12.47
13.41
14.31
Basic Weighted Avg Shares
110
112
114
179
211
214
215
219
235
253
264
273
280
284
Sales/Revenue/Turnover
235
591
575
828
971
1,056
1,153
1,153
1,216
1,312
1,440
1,532
1,595
1,655
Operating Margin (%)
21.11
43.74
44.76
58.03
62.34
61.91
62.2
66.59
67.42
73.37
74.19
73.58
75.73
83
Depreciation Expense
29
107
110
116
124
148
259
243
252
255
276
273
283
280
Net Income, GAAP
15
139
128
289
381
340
391
506
534
685
734
785
825
969
Effective Tax Rate (%)
51.22
3.55
5.49
2.54
2.51
1.44
1.2
0.76
5.04
2.37
0.26
0.26
0.26
0.23
Profit Margin (%)
6.31
23.48
22.28
34.93
39.18
32.16
33.89
43.85
43.91
52.2
50.98
51.23
51.74
58.53
Working Capital
206
-7
-94
2,530
2,368
-58
-76
136
1,533
1,722
2,364
3,170
2,701
2,845
LT Debt
2,350
2,570
2,510
4,665
4,443
5,853
5,922
5,907
6,790
6,364
6,879
8,042
7,507
8,380
Total Equity
137
-176
-254
2,434
2,458
2,266
2,074
2,675
3,390
4,118
4,509
4,646
5,008
5,381
Return on Invested Capital (%)
1.58
9.52
10.36
11.43
10.24
9.08
8.54
9.17
10.14
16.28
26.48
14.08
9.56
33.07
Return on Capital (%)
1.6
9.71
10.56
9.88
8.36
7.57
8.32
9.45
8.56
9.37
9.47
9.37
9.31
10.21
Return on Common Equity (%)
7.95
- -
- -
- -
15.56
14.37
18.01
21.3
18.23
19.67
18.51
18.62
18.55
20.31

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
7,204
8,075
8,078
LT Finance Leases
304
303
302
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
283
283
291
Market Capitalization
12,649
12,567
12,955

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
3,030
3,137
3,182
Cash, Cash Equivalents & STI
224
275
319
Accounts Receivable, Net
2,558
2,563
2,567
Inventories
- -
- -
- -
Total Current Liabilities
329
297
337
Payables & Accruals
123
91
130
ST Debt
- -
- -
- -
Deferred Revenue
206
206
208

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-97.78%
13.71%
7.81%
Free Cash Flow
18.18%
24.7%
5.28%
Net Income, GAAP
24.41%
10.61%
5.16%
Sales/Revenue/Turnover
11.28%
6.72%
4.13%
Total Cash Common Dividend
25.32%
41.87%
4.95%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
376
381
385
390
1,532
2025
395
395
398
407
1,595
2026
420
431
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.64
0.77
0.67
0.79
2.87
2025
0.6
0.55
0.85
0.94
2.95
2026
0.82
0.8
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.76
0.76
0.76
0.76
3.04
2025
0.76
0.8
0.78
0.78
3.12
2026
0.78
0.84
- -
- -
- -

Company Description

CEO
Peter Carlino
Full Time Employees
20
Sector
Real Estate
Industry
REIT - Specialty
Address
845 Berkshire Boulevard Wyomissing PA United States of America 19610-1247
IPO Date
Oct 14, 2013
Business
Gaming and Leisure Properties, Inc. (GLPI) is a self-administered real estate investment trust (REIT) focused on acquiring, financing, and owning gaming and related real estate properties leased to operators under long-term triple-net lease arrangements, pursuant to which tenants bear responsibility for maintenance, insurance, taxes, and utilities; its portfolio encompasses approximately 68-69 premier gaming facilities and amenities, including casinos, resorts, and racetracks such as Hollywood Casino Lawrenceburg, Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Casino at Charles Town Races, M Resort Spa Casino, Bally’s Dover Casino Resort, Ameristar Black Hawk, Silverado Franklin Hotel & Gaming Complex, Baldini's Casino, Hard Rock Casino Rockford, and Casino Queen Marquette, geographically diversified across 20 U.S. states. Founded in 2013 as a spin-off from Penn National Gaming and headquartered in Wyomissing, Pennsylvania, GLPI serves leading gaming operators including PENN Entertainment, Bally’s Corporation, and Caesars Entertainment through its GLP Capital segment, which constitutes the core leasing business, complemented by a smaller TRS Properties segment operating select properties like Hollywood Casino Perryville and Hollywood Casino Baton Rouge. Recent developments include the May 2024 acquisition of three casino resorts—Silverado Franklin, Deadwood Mountain Grand, and Baldini’s—in South Dakota and Nevada from Strategic Gaming Management for $105 million plus $5 million in capital improvements, expanding the portfolio to 65 properties across 20 states with a new tenant partnership; in August 2025, GLPI funded $130 million at a 7.75% cap rate for the relocation of Hollywood Casino Joliet operated by PENN Entertainment; and ongoing commitments such as up to $940 million for Bally’s Chicago casino development, including $250 million advanced for land in 2024, alongside land acquisition and $440 million financing for a Live Casino hotel project planned for Q1 2026.

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