Gaming And Leisure Properties, Inc. (GLPI) Announces Record Fourth Quarter Earnings Results, Establishes 2025 Guidance And Reports 2025 First Quarter Dividend Of $0.76 Per Share

Gaming and Leisure Properties, Inc. (GLPI) today announced its financial results for the latest quarter. The company reported earnings per share of $0.79, surpassing the estimated $0.73, marking a positive earnings surprise. However, GLPI’s revenue came in at $4.22 million, significantly below the anticipated $391.6 million, resulting in a substantial revenue miss. Despite the earnings beat, the revenue shortfall highlights challenges the company faces in its current market environment.

Key Highlights:

• Gaming and Leisure Properties, Inc. (GLPI) reported record financial results for the fourth quarter and full year 2024, with total revenue increasing by 5.6% year-over-year to $389.6 million.
• The company completed several strategic acquisitions and financing arrangements, including sale-leaseback transactions with Bally’s properties, which are expected to be accretive to 2025 financial results.
• GLPI’s portfolio now includes 68 high-quality regional gaming assets, with recent expansions through partnerships and acquisitions.
• The company increased its credit revolver capacity to $2.09 billion and extended its maturity to December 2028.
• GLPI provided 2025 guidance, estimating AFFO between $1.105 billion and $1.121 billion, or $3.83 to $3.88 per diluted share and OP units.
• The company declared a first-quarter dividend of $0.76 per share, payable on March 28, 2025.

Summary:

Gaming and Leisure Properties, Inc. (GLPI) achieved record financial results for the fourth quarter and full year 2024, driven by strategic acquisitions and financing arrangements. The company’s total revenue for the fourth quarter rose by 5.6% year-over-year to $389.6 million, while AFFO increased by 5.1% to $269.7 million. GLPI’s growth was bolstered by recent acquisitions, including sale-leaseback transactions with Bally’s properties in Kansas City and Shreveport, which are expected to contribute positively to the company’s 2025 financial performance. The company’s portfolio now comprises 68 high-quality regional gaming assets, reflecting its focus on expanding partnerships with leading gaming operators.

Peter Carlino, Chairman and CEO of GLPI, emphasized the company’s commitment to maintaining balance sheet strength and leveraging innovative financing structures to support tenant growth. “Our record fourth quarter and full year financial results reflect GLPI’s recent acquisitions and financing arrangements, contractual escalators, and growing base of leading regional gaming operator tenants, which together are expected to drive further growth in 2025 and beyond,” Carlino stated. Looking ahead, GLPI provided 2025 guidance, estimating AFFO between $1.105 billion and $1.121 billion, or $3.83 to $3.88 per diluted share and OP units. The company also declared a first-quarter dividend of $0.76 per share, reinforcing its commitment to delivering value to shareholders.

Gaming and Leisure Properties, Inc. (GLPI) has demonstrated a robust performance over the past year, with its stock price appreciating by an impressive 16.68%. This positive trend is further supported by a solid one-month gain of 2.79% and a six-month increase of 2.44%, despite a slight dip of 0.81% over the past three months. The company’s price-to-earnings ratio stands at 16.92, indicating a reasonable valuation relative to its earnings. However, the earnings per share (EPS) two-year compound annual growth rate (CAGR) has declined by 2.01%, suggesting some challenges in profit growth. On the brighter side, GLPI’s revenue and free cash flow have both shown healthy two-year CAGRs of 8.92% and 9.02%, respectively, reflecting strong operational efficiency. The company’s return on invested capital is a respectable 9.87%, and with a net profit margin of 51.58%, GLPI is clearly capitalizing on its investments and maintaining profitability. Overall, while there are areas for improvement, GLPI’s financial metrics and stock performance paint a picture of a company with solid fundamentals and growth potential.

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.