Gaming & Leisure Properties Q2 2024 10-Q Filed

TL;DR

**GLPI Q2 10-Q is IN! Check financials for latest performance.**

AI Summary

Gaming & Leisure Properties, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with the latest financial performance data for Gaming & Leisure Properties, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a real estate investment trust, the company's performance is tied to the gaming and leisure industry, which can be cyclical and subject to economic downturns.

Key Numbers

• 2024-06-30 — Report End Date (Quarterly financial reporting period)
• 2024-07-25 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• Gaming & Leisure Properties, Inc. (company) — Filer
• 20240630 (date) — Period of Report
• 20240725 (date) — Filed as of Date
• 845 Berkshire Blvd, Suite 200 (address) — Business Address
• Wyomissing, PA (location) — Business Address City/State

FAQ

Key Financial Figures

• $0.25 — pecial earnings and profits dividend of $0.25 per share in the first quarter of 2023

Filing Documents

• glpi-20240630.htm (10-Q) — 1604KB
• glpi-2024630ex221.htm (EX-22.1) — 4KB
• glpi-2024630exhibit311.htm (EX-31.1) — 14KB
• glpi-2024630exhibit312.htm (EX-31.2) — 14KB
• glpi-2024630exhibit321.htm (EX-32.1) — 6KB
• glpi-2024630exhibit322.htm (EX-32.2) — 6KB
• 0001575965-24-000023.txt ( ) — 9661KB
• glpi-20240630.xsd (EX-101.SCH) — 94KB
• glpi-20240630_cal.xml (EX-101.CAL) — 92KB
• glpi-20240630_def.xml (EX-101.DEF) — 424KB
• glpi-20240630_lab.xml (EX-101.LAB) — 824KB
• glpi-20240630_pre.xml (EX-101.PRE) — 694KB
• glpi-20240630_htm.xml (XML) — 1187KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 4 Condensed Consolidated Balance Sheets - Ju ne 3 0 , 2024 and December 31, 202 3 4 Condensed Consolidated Statements of Income - Three and Six Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Changes in Equity - Three and Six Months Ended June 3 0 , 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows - Six Months Ended June 30 , 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 8 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 59 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 60 PART II. OTHER INFORMATION 61 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 61 ITEM 1A.

RISK FACTORS

RISK FACTORS 61 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 61 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 61 ITEM 4. MINE SAFETY DISCLOSURES 61 ITEM 5. OTHER INFORMATION 61 ITEM 6. EXHIBITS 63 SIGNATURE 64 3 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Gaming and Leisure Properties, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except share data) June 30, 2024 December 31, 2023 (unaudited) Assets Real estate investments, net $ 8,045,884 $ 8,168,792 Investment in leases, financing receivables, net 2,312,021 2,023,606 Real estate loans, net 90,372 39,036 Right-of-use assets and land rights, net 828,098 835,524 Cash and cash equivalents 94,494 683,983 Held to maturity investment securities 347,782 — Other assets 58,517 55,717 Total assets $ 11,777,168 $ 11,806,658 Liabilities Accounts payable and accrued expenses $ 4,455 $ 7,011 Accrued interest 82,091 83,112 Accrued salaries and wages 3,621 7,452 Operating lease liabilities 195,918 196,853 Financing lease liabilities 60,561 54,261 Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts 6,632,842 6,627,550 Deferred rental revenue 253,171 284,893 Other liabilities 39,584 36,572 Total liabilities 7,272,243 7,297,704 Commitments and Contingencies (Note 9) Equity Preferred stock ($ .01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2024 and December 31, 2023) — — Common stock ($ .01 par value, 500,000,000 shares authorized, 271,500,584 and 270,922,719 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively) 2,715 2,709 Additional paid-in capital 6,059,956 6,052,109 Accumulated deficit ( 1,928,360 ) ( 1,897,913 ) Total equity attributable to Gaming and Leisure Properties 4,134,311 4,156,905 Noncontrolling interests in GLPI's Operating Partnership ( 8,087,630 units and 7,653,326 units outstanding at June 30, 2024 and December 31, 2023, respectively) 370,614 352,049 Total equity 4,504,925 4,508,954 Total liabilities and equity $ 11,777,168 $ 11,806,658 See accompanying notes to the condensed consolidated financial statements. 4 Table of Contents Gaming a

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View this 10-Q filing on SEC EDGAR