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Dec 31, 2021
GLPI Q4 2021 Earnings Report
GLPI reported strong Q4 2021 results, marked by increased dividends and strategic acquisitions.
Key Takeaways
Gaming and Leisure Properties, Inc. (GLPI) reported fourth-quarter 2021 financial results, featuring a total revenue of $298.3 million and net income of $119.6 million. The company completed strategic acquisitions, including Maryland Live!, and expanded partnerships to drive long-term growth.
Total revenue for Q4 2021 was $298.3 million.
Net income for Q4 2021 reached $119.6 million.
Completed the acquisition of the real property assets of Maryland Live!.
Established a first quarter 2022 dividend of $0.69 per common share.
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 is positioned to deliver long-term growth based on relationships with gaming operators, rights to participate in tenants’ growth, and the ability to structure and fund transactions.
Positive Outlook
- Relationships with esteemed regional gaming operators.
- Rights and options to participate in select tenants’ future growth.
- Ability to structure and fund transactions at attractive rates.
- Expected completion of the acquisition of Bally's casino properties in Rock Island, Illinois and Black Hawk, Colorado.
- Rights of first refusal to fund real property acquisition or development project costs associated with potential future transactions in Michigan, Maryland, Virginia and New York.
Challenges Ahead
- Effect of pandemics such as COVID-19 on GLPI as a result of the impact of such pandemics on the business operations of GLPI’s tenants and their continued ability to pay rent in a timely manner or at all.
- Ability to successfully consummate the announced transactions with Cordish and Bally's, including the ability of the parties to satisfy the various conditions to closing, including receipt of all required regulatory approvals, or other delays or impediments to completing the proposed transactions.
- 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, whether or not specific to REITs or to the gaming or lodging industries.
Revenue & Expenses
Visualization of income flow from segment revenue to net income