Nasdaq:GLPI
Gaming and Leisure Properties, Inc. Schedules Second Quarter 2024 Earnings Release and Conference Call
WYOMISSING, Pa., June 26, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) announced today that the Company will release its 2024 second quarter financial results after the market close on Thursday, July 25, 2024. The Company will host a conference call at 10:00 a.m. ET on Friday, July 26, 2024.
During the conference call, Peter M. Carlino, Chairman and Chief Executive Officer, and senior management, will review the quarterās results and performance, discuss recent events and conduct a question-and-answer period.
Webcast:
The conference call will be available in the Investor Relations section of the Companyās website at www.glpropinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Companyās website.
To Participate in the Telephone Conference Call:
Dial in at least five minutes prior to start time.
Domestic: 1-877/407-0784
International: 1-201/689-8560
Conference Call Playback:
Domestic: 1-844/512-2921
International: 1-412/317-6671
Passcode: 13747503
The playback can be accessed through Friday, August 2, 2024.
About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
Contact: | Ā |
Gaming and Leisure Properties, Inc. | Investor Relations |
Matthew Demchyk, Chief Investment Officer | Joseph Jaffoni, Richard Land, James Leahy at JCIR |
610/401-2900 | 212/835-8500 |
[email protected] | [email protected] |
Nasdaq:GLPI
Gaming and Leisure Properties Closes on $250 Million Land Acquisition, the Site for Ballyās Future Chicago Flagship Casino
WYOMISSING, Pa., Sept. 11, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) (āGLPIā or āthe Companyā), announced today that it completed its previously announced $250 million acquisition, from Blue Owl Capital, of the land on which Ballyās Corporation (NYSE: BALY) (āBallyāsā) permanent Chicago Casino will be constructed. The land purchase was one component of GLPIās broader agreement with Ballyās, announced in July.
With the completion of GLPIās purchase of the Chicago land, the current lease in place with Blue Owl Capital will be assumed by an affiliate of GLPI and amended to reflect the negotiated annual rent of $20 million, representing an initial cash yield of 8.0%. GLPI will own substantially all of the real estate and improvements related to the Chicago casino and hotel for a total investment of $1.19 billion resulting in a blended initial cash investment yield of 8.4%. Stabilized rent coverage for the lease is expected to be in the range of 2.0x ā 2.4x.
Peter Carlino, Chairman and CEO of GLPI commented, āThe completion of the Chicago land purchase is a significant milestone toward the development of Ballyās Chicago, which promises to be a must-visit destination casino resort property in the heart of Chicago. Our transactions with Ballyās related to Chicago and our real estate acquisitions at Ballyās Kansas City Casino and Ballyās Shreveport Casino & Hotel will be accretive to our financial results, resulting in an 8.3% blended initial cash yield and conservative rent coverage. We are pleased to be working with the Ballyās team, the host community and various stakeholders in Chicago to deliver a world-class entertainment center in the nationās third largest metropolitan area.ā
About Gaming and Leisure Properties, Inc.
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
Forward-Looking Statements
This press release includes āforward-looking statementsā within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding the benefits of the transaction to our shareholders. Forward-looking statements can be identified by the use of forward-looking terminology such as āexpects,ā ābelieves,ā āestimates,ā āintends,ā āmay,ā āwill,ā āshouldā or āanticipatesā or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward-looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: GLPIās ability to successfully consummate the announced transactions with Ballyās, including the ability of the parties to satisfy the various conditions to advancing loan proceeds, including receipt of all required regulatory approvals and other approvals and consents, or other delays or impediments to completing the proposed transactions; the potential negative impact of recent high levels of inflation (which have been exacerbated by the armed conflict between Russia and Ukraine) on our tenants’ operations; GLPI’s ability to maintain its status as a REIT; our ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to GLPI; the impact of our substantial indebtedness on our future operations; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and other factors described in GLPIās Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPIās behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.
Contact: | Ā |
Gaming and Leisure Properties, Inc. | Investor Relations |
Matthew Demchyk, Chief Investment Office | Joseph Jaffoni, Richard Land, James Leahy at JCIR |
610/401-2900 | 212/835-8500 |
[email protected] | [email protected] |
Nasdaq:GLPI
Gaming and Leisure Properties, Inc. Declares Third Quarter 2024 Cash Dividend of $0.76 Per Share
WYOMISSING, Pa., Aug. 28, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the āCompanyā), announced today that the Companyās Board of Directors has declared the third quarter 2024 cash dividend of $0.76 per share of its common stock. The dividend is payable on September 27, 2024 to shareholders of record on September 13, 2024. The third quarter 2023 cash dividend was $0.73 per share of the Companyās common stock.
While the Company intends to pay regular quarterly cash dividends for the foreseeable future, all subsequent dividends will be reviewed quarterly and declared by the Board of Directors at its discretion.
About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
Forward-Looking Statements
This press release includes āforward-looking statementsā within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding the payment of future cash dividends. Forward-looking statements can be identified by the use of forward-looking terminology such as āexpects,ā ābelieves,ā āestimates,ā āintends,ā āmay,ā āwill,ā āshouldā or āanticipatesā or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward-looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: the effect of pandemics, such as COVID-19, on GLPI as a result of the impact such pandemics may have on the business operations of GLPIās tenants and their continued ability to pay rent in a timely manner or at all; the potential negative impact of ongoing high levels of inflation (which have been exacerbated by the armed conflict between Russia and Ukraine and may be further impacted by recent events in the Middle East) on our tenants’ operations; the availability of and the ability to identify suitable and attractive acquisition and development opportunities and the ability to acquire and lease those properties on favorable terms; the ability to receive, or delays in obtaining, the regulatory approvals required to own and/or operate its properties, or other delays or impediments to completing acquisitions or projects; GLPI’s ability to maintain its status as a REIT; our ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to GLPI; the impact of our substantial indebtedness on our future operations; changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and other factors described in GLPIās Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPIās behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.
Contact | Ā |
GamingĀ andĀ LeisureĀ Properties,Ā Inc. | InvestorĀ Relations |
Matthew Demchyk, Chief Investment Officer | Joseph Jaffoni, Richard Land, James Leahy at JCIR |
610/401-2900 | 212/835-8500 |
[email protected] | [email protected] |
Nasdaq:GLPI
Gaming and Leisure Properties Announces Pricing of $800,000,000 ofĀ 5.625% Senior Notes Due 2034 and $400,000,000 of 6.250% Senior Notes Due 2054
WYOMISSING, Pa,, July 30, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (āGLPIā) (NASDAQ: GLPI) today announced the pricing of a public offering of $1,200,000,000 aggregate principal amount of Notes (as defined below), to be issued by its operating partnership, GLP Capital, L.P. (the āOperating Partnershipā), and GLP Financing II, Inc., a wholly-owned subsidiary of the Operating Partnership (together with the Operating Partnership, the āIssuersā). The Notes will be issued in two tranches, the first of which will be senior notes due 2034 (the ā2034 Notesā) and the second of which will be senior notes due 2054 (the ā2054 Notesā and, together with the 2034 Notes, the āNotesā).The 2034 Notes priced at 99.094% of par value, with a coupon of 5.625% and will mature on September 15, 2034. The 2054 Notes priced at 99.183% of par value, with a coupon of 6.250% and will mature on September 15, 2054. The Notes will be senior unsecured obligations of the Issuers, guaranteed by GLPI.
The Issuers intend to use the net proceeds from the offering for working capital and general corporate purposes, which may include the funding of announced transactions, development and improvement of properties, repayment of indebtedness, capital expenditures and other general business purposes.
The offering is expected to close on August 6, 2024, subject to the satisfaction of certain closing conditions.
The offering will be made under an effective shelf registration statement filed with the Securities and Exchange Commission (the āSECā) and only by means of a prospectus and prospectus supplement. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available by visiting the EDGAR database on the SECās website at www.sec.gov.
Wells Fargo Securities, LLC, Citizens JMP Securities, LLC, Fifth Third Securities, Inc., Truist Securities, Inc., M&T Securities, Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., U.S. Bancorp Investments, Inc., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, Barclays Capital Inc., Scotia Capital (USA) Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Capital One Securities, Inc., Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are serving as joint book-running managers, and Centerview Partners LLC and CBRE Capital Advisors, Inc. are serving as co-managers for the offering. A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus relating to the offering of the Notes may be obtained by contacting Wells Fargo Securities, LLC by calling 1-800-645-3751, Citizens JMP Securities, LLC by calling 1-617-725-5500, Fifth Third Securities, Inc. by calling 1-866-531-5353 or Truist Securities, Inc. by calling 1-800-685-4786.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.
About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
Forward-Looking Statements
This press release includes āforward-looking statementsā within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including our expectations regarding our ability to complete the offering and apply the net proceeds as indicated. Forward-looking statements can be identified by the use of forward-looking terminology such as āexpects,ā ābelieves,ā āestimates,ā āintends,ā āmay,ā āwill,ā āshouldā or āanticipatesā or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward looking statements are inherently subject to risks, uncertainties and assumptions about GLPI and its subsidiaries, including risks related to the following: (i) GLPIās ability to successfully consummate the offering and apply the net proceeds as indicated; (ii) GLPIās ability to successfully consummate pending transactions, including the ability of the parties to satisfy the various conditions to funding, receipt of required approvals and consents, or other delays or impediments to completing such pending transactions; (iii) GLPI’s expectations regarding continued growth and dividend increases; (iv) the potential negative impact of ongoing high levels of inflation (which have been exacerbated by the armed conflict between Russia and Ukraine and may be further impacted by events in the Middle East) on discretionary consumer spending, including the casino operations of GLPIās tenants; (v) the effect of pandemics, such as COVID-19, on GLPI as a result of the impact such pandemics may have on the business operations of GLPIās tenants and their continued ability to pay rent in a timely manner or at all; (vi) the availability of, and the ability to identify, suitable and attractive acquisition and development opportunities and to acquire and lease those properties on favorable terms; (vii) GLPIās ability to receive, or delays in obtaining, the regulatory approvals required to own and/or operate its properties, or other delays or impediments to completing acquisitions or projects; (viii) GLPIās ability to maintain its status as a REIT; (ix) GLPIās ability to access capital through debt and equity markets in amounts and at rates and costs acceptable to us or at all, including for acquisitions or refinancings due to maturities; (x) the impact of our substantial indebtedness on our future operations and our ability to generate sufficient cash flows to service our outstanding indebtedness; (xi) adverse changes in our credit rating; (xii) changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs or to the gaming or lodging industries; and (xiii) other factors described in GLPIās Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the SEC. All subsequent written and oral forward-looking statements attributable to GLPI or persons acting on GLPIās behalf are expressly qualified in their entirety by the cautionary statements included in this press release. GLPI undertakes no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur as presented or at all.
Contact:
Gaming and Leisure Properties, Inc. Matthew Demchyk, Chief Investment Officer 610/401-2900 [email protected] |
Investor Relations Joseph Jaffoni, Richard Land, James Leahy at JCIR 212/835-8500 [email protected] |
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