Gaming & Leisure Properties, Inc.GLPI
What Gaming & Leisure Properties, Inc. does.
GLPI is a self-administered and self-managed Pennsylvania REIT. GLPI was incorporated on February 13, 2013, as a wholly-owned subsidiary of PENN Entertainment, Inc., formerly known as Penn National Gaming, Inc. (NASDAQ: PENN) ("PENN"). On November 1, 2013, PENN contributed to the Company, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with PENN's real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville (which are referred to as the "TRS Properties") and then spun-off GLPI to holders of PENN's common and preferred stock in a tax-free distribution (the "Spin-Off").
Since 2021, the Company has been structured as an umbrella partnership REIT under which substantially all of its business is conducted through GLP Capital, L.P. ("GLP Capital"), the day-to-day management of which is exclusively controlled by GLPI. GLPI has no material assets other than its investment in GLP Capital. GLPI issues equity from time to time and is obligated to contribute the net proceeds from those offerings to GLP Capital. As of December 31, 2025, GLPI owned 97.1% of the outstanding units of GLP Capital with the remaining units owned by third party limited partners who (directly or through affiliates) contributed properties to GLP Capital in exchange for consideration that was partially funded through the issuance of operating partnership units ("OP Units") and holders of long term incentive plan units ("LTIP Units"). The OP Units and LTIP Units once vested are exchangeable on a one for one basis for common shares of the Company. The Company's common stock is listed on the NASDAQ under the ticker symbol GLPI.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.2B | $1.3B | $1.4B | $1.5B | $1.6B |
| Net income | $505.7M | $534.0M | $684.7M | $734.3M | $784.6M | $825.1M |
| Free cash flow | $427.6M | $789.9M | $920.0M | $1.0B | $1.1B | $825.0M |
More on GLPI.
- Gaming & Leisure Properties, Inc. summary
- Gaming & Leisure Properties, Inc. financial statements
- Gaming & Leisure Properties, Inc. key metrics
- Gaming & Leisure Properties, Inc. health scores and style box
- Gaming & Leisure Properties, Inc. earnings
- Gaming & Leisure Properties, Inc. dividends
- Gaming & Leisure Properties, Inc. valuation
- Gaming & Leisure Properties, Inc. ownership and insiders
- Gaming & Leisure Properties, Inc. peers
Figures from Gaming & Leisure Properties, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.