Gaming and Leisure Properties

Gaming and Leisure Properties, Inc. (the “Company” or “GLPI”) is a self-administered and self-managed Pennsylvania REIT that was incorporated on February 13, 2013 as a wholly-owned subsidiary of Penn National Gaming, Inc. (“Penn”). On November 1, 2013, Penn completed the tax-free spin-off of GLPI by distributing the common stock it held in GLPI to Penn’s shareholders. GLPI owns substantially all of the assets associated with the real property interests related to Penn’s gaming operations, as well as the assets and liabilities of Louisiana Casino Cruises, Inc. (“Hollywood Casino Baton Rouge”) and Penn Cecil Maryland, Inc. (“Hollywood Casino Perryville”). GLPI’s tenants include Penn Tenant, LLC, a subsidiary of Penn, which leases the real estate assets of 18 facilities related to Penn’s operations, pursuant to a master lease agreement and Casino Queen in East St. Louis, Illinois.

GLPI elected on its U.S. federal income tax return for the taxable year beginning on January 1, 2014 to be treated as a REIT and intends to continue to be organized and to operate in a manner that will permit it to qualify as a REIT. The Company’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in “triple net” lease arrangements. GLPI expects to grow its portfolio by pursuing opportunities to acquire additional gaming facilities to lease to gaming operators, which may or may not include Penn. GLPI also anticipates diversifying its portfolio over time by acquiring properties outside the gaming industry to lease to third parties. The expertise of GLPI’s management team will allow the Company to secure additional avenues for growth beyond the gaming industry and allow it to pursue other acquisitions that may prove complementary to GLPI's gaming facilities.
Company Growth (employees)
Type
Public
HQ
Wyomissing, US
Size (employees)
751 (est)-5%
Gaming and Leisure Properties is headquartered in Wyomissing, US

Gaming and Leisure Properties Office Locations

Gaming and Leisure Properties has offices in Wyomissing and Baton Rouge
Wyomissing, US (HQ)
845 Berkshire Blvd

Gaming and Leisure Properties Data and Metrics

Gaming and Leisure Properties Financial Metrics

Gaming and Leisure Properties's revenue was reported to be $828.3 m in FY, 2016 which is a 44% increase from the previous period.
USD

Revenue (FY, 2016)

828.3 m

Revenue growth (FY, 2015 - FY, 2016), %

44%

Net income (FY, 2016)

289.3 m

EBIT (FY, 2016)

148.9 m

Market capitalization (21-Jul-2017)

7.8 b

Cash (31-Dec-2016)

36.6 m
Gaming and Leisure Properties's current market capitalization is $7.8 b.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

242.1 m635.9 m575.1 m828.3 m

Revenue growth, %

163%(10%)44%

EBIT

64.5 m148.9 m

EBIT margin, %

11%18%

Net Income

19.8 m185.4 m128.1 m289.3 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

285.2 m36 m41.9 m36.6 m

Accounts Receivable

1.1 m

Goodwill

75.5 m75.5 m75.5 m75.5 m

Total Assets

2.6 b2.6 b2.4 b7.4 b

Accounts Payable

21.4 m4.4 m406 k1.1 m

Total Liabilities

4.9 b

Common Stock

887 k1.1 m1.2 m2.1 m

Additional Paid-in Capital

3.7 m888.9 m935.2 m3.8 b

Retained Earnings

137.9 m(1.2 b)

Total Equity

142.4 m2.4 b

Financial Leverage

18.3 x3 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

19.8 m185.4 m128.1 m289.3 m

Depreciation and Amortization

28.9 m106.8 m109.8 m115.7 m

Inventories

(885 k)(11 m)(9.7 m)

Accounts Payable

2.6 m(1.7 m)(946 k)506 k

Cash From Operating Activities

80.6 m273.3 m319.7 m514.4 m

Cash From Investing Activities

(16.3 m)(317.3 m)(14.1 m)(3.2 b)

Long-term Borrowings

(32 m)(68.1 m)(377.1 m)

Dividends Paid

(251.7 m)(428.4 m)

Cash From Financing Activities

206.3 m(205.2 m)(299.6 m)2.7 b

Income Taxes Paid

5.7 m(18.8 m)
Y, 2016

Financial Leverage

3 x

Gaming and Leisure Properties Market Value History

Gaming and Leisure Properties Job Categories

Gaming and Leisure Properties Company Life and Culture

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