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Mar 31, 2024
GLPI Q1 2024 Earnings Report
GLPI's first quarter results for 2024 were announced, showcasing a revenue increase and strategic portfolio expansion.
Key Takeaways
Gaming and Leisure Properties reported a 5.8% year-over-year increase in total revenue, reaching $376.0 million, and a 4.0% growth in AFFO. The company expanded its portfolio with the acquisition of Tioga Downs Casino Resort and updated its full-year 2024 AFFO guidance to between $1,042 million and $1,051 million.
Total revenue increased by 5.8% year-over-year to $376.0 million.
AFFO grew by 4.0% year-over-year.
Acquired the real estate assets of Tioga Downs Casino Resort for $175.0 million.
2024 AFFO guidance updated to between $1,042 million and $1,051 million, or $3.71 to $3.74 per diluted share.
GLPI
GLPI
GLPI Revenue by Segment
Revenue by Segment
Interest Income RE Loans Revenue
CapyFin.com Forward Guidance
The Company estimates AFFO for the year ending December 31, 2024 will be between $1,042 million and $1,051 million, or between $3.71 and $3.74 per diluted share and OP units.
Positive Outlook
- Guidance does not include impact from possible future acquisitions or dispositions.
- Guidance assumes no material changes in applicable legislation or regulatory environment.
- Guidance assumes no material changes in world events, including weather.
- Guidance assumes no material changes in recent consumer trends.
- Guidance assumes no material changes in economic conditions or oil prices.
Challenges Ahead
- The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis.
- Inherent difficulty of forecasting the timing and/or amounts of various items that would impact net income.
- Unable to predict with reasonable certainty the amount of the change in the provision for credit losses, net.
- Non-cash change in the provision for credit losses under ASC 326 is dependent upon future events outside of the Company's control.
- Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.