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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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