From GlobeNewswire: 2024-07-25 16:34:00

Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) reported financial results for the quarter ending June 30, 2024. Total revenue was $380.6 million, a 6.7% increase from the previous year. Net income reached $214.4 million. The company’s consistent cash flow generation led to record-breaking results. GLPI also announced a strategic transaction with Bally’s Corporation worth $1.585 billion.

GLPI’s successful quarter was highlighted by record financial results, including a 6.7% increase in total revenue and a 5.6% growth in AFFO. Looking ahead, the company remains focused on delivering value to shareholders. GLPI also entered into a significant transaction with Bally’s, adding new assets to its portfolio. Additionally, the company funded a renovation project for Casino Queen in Baton Rouge, demonstrating its commitment to growth and innovation.

Subsequent to June 30, 2024, GLPI sold 2.9 million shares of its common stock, raising $139.4 million. The company also announced plans to acquire the real property assets of Bally’s Kansas City Casino, Bally’s Shreveport Casino & Hotel, and the land under Bally’s future Chicago casino site. The transaction is expected to yield an initial 8.3% cash return. Additionally, GLPI secured terms for acquiring Bally’s Lincoln asset.

In June 2024, GLPI agreed to fund a landside move and hotel renovation for Belle of Baton Rouge in cooperation with Casino Queen. The $111 million project is set to be completed by September 2025. GLPI continues to invest in strategic projects like the Rockford, Illinois development and the acquisition of Tioga Downs Casino Resort in Nichols, NY, showcasing its commitment to growth and long-term value creation.



Read more at GlobeNewswire:: Gaming and Leisure Properties Reports Record Second Quarter