Gaming and Leisure Properties, Inc.

Gaming and Leisure Properties, Inc. (GLPI) is a self-administered and self-managed Real Estate Investment Trust (REIT) headquartered in Wyomissing, Pennsylvania. The company's core business involves acquiring, financing, and owning real property, primarily gaming and related facilities, which are then leased to casino operators under long-term "triple-net" lease arrangements. This model separates property ownership from gaming operations, aiming to provide stable, recurring income streams and consistent shareholder returns.

GLPI's portfolio consists of 71 geographically diversified gaming and related facilities across 21 states as of March 31, 2026. The company's primary service is providing real estate solutions to major casino operators, including PENN Entertainment, Caesars Entertainment, Bally's Corporation, and Boyd Gaming Corporation. Under its triple-net lease structure, tenants are responsible for all property-related expenses, such as maintenance, property taxes, and insurance, which contributes to GLPI's efficient operating model. While primarily focused on the gaming industry, the company also aims to strategically diversify its portfolio by acquiring properties outside the gaming sector over time.

Recent notable developments include the company reporting record first-quarter 2026 results, with total revenue reaching $420.0 million and an increase in its full-year guidance for 2026. In February 2026, GLPI completed the Bally's Lincoln Real Estate Acquisition for $700 million. The leadership team includes Peter M. Carlino as Chairman of the Board and Chief Executive Officer, and Brandon J. Moore, who was promoted to President and Chief Operating Officer in September 2024. GLPI is recognized as a high-yield REIT, offering an attractive dividend yield of 7.03% as of Q1 2026, appealing to income-focused investors, and maintains a robust balance sheet and strong liquidity.