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Sep 30, 2021
GLPI Q3 2021 Earnings Report
Reported consistent earnings and exceeded the comparable period in 2020, demonstrating ability to consistently build value.
Key Takeaways
Gaming and Leisure Properties, Inc. (GLPI) announced strong third-quarter results, with net income and Adjusted Funds From Operations (AFFO) exceeding the comparable period in 2020 by 17.3% and 6.4%, respectively. The company completed the sale of the operations of Hollywood Casino Perryville and is focused on portfolio expansion and diversification.
Net income and AFFO exceeded the comparable period in 2020 by 17.3% and 6.4%, respectively.
Completed the sale of the operations of Hollywood Casino Perryville, resulting in proceeds of approximately $31 million.
GLPI's high quality tenant roster continues to highlight the strength and resiliency of regional gaming markets.
GLPI is well positioned to deliver further growth as it pursues additional portfolio expansion and diversification.
GLPI
GLPI
GLPI Revenue by Segment
Revenue by Segment
Building Base Rent Revenue
CapyFin.comLand Base Rent Revenue
CapyFin.comPercentage Rent & Other Revenue
CapyFin.com Forward Guidance
GLPI believes it is well positioned to deliver further growth as it pursues additional portfolio expansion and diversification while benefiting from the ongoing strength in regional gaming markets.
Positive Outlook
- Further growth potential through portfolio expansion and diversification.
- Ongoing strength in regional gaming markets.
- Operations at GLPI’s properties continuing to generate record results.
- Commitment to balance sheet strength.
- Positioned as an investment grade issuer.
Challenges Ahead
- Effect of pandemics, such as COVID-19, on GLPI.
- Ability to successfully consummate the announced transactions with Bally's, and Casino Queen.
- Availability of and the ability to identify suitable and attractive acquisition and development opportunities and the ability to acquire and lease those properties on favorable terms
- Ability to receive, or delays in obtaining, the regulatory approvals required to own and/or operate its properties, or other delays or impediments to completing acquisitions or projects.
- Changes in the U.S. tax law and other state, federal or local laws
Revenue & Expenses
Visualization of income flow from segment revenue to net income