Gaming & Leisure Properties Enters Material Agreement

TL;DR

GLPI just signed a big deal, creating new financial obligations. Details in the filing.

AI Summary

On December 2, 2024, Gaming & Leisure Properties, Inc. entered into a material definitive agreement. This agreement also creates a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or contract for Gaming & Leisure Properties, Inc., which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• Gaming & Leisure Properties, Inc. (company) — Registrant
• 12/2/2024 (date) — Date of earliest event reported
• Pennsylvania (location) — State of Incorporation
• 845 Berkshire Blvd., Suite 200 Wyomissing , PA 19610 (address) — Principal executive offices

FAQ

Key Financial Figures

• $1,750,000,000 — he Credit Agreement were increased from $1,750,000,000 to $2,090,000,000 and the maturity date
• $2,090,000,000 — t were increased from $1,750,000,000 to $2,090,000,000 and the maturity date of revolving loan
• $1,040,000,000 — the right to elect to re-allocate up to $1,040,000,000 in existing revolving commitments under

Filing Documents

• glpi-20241202.htm (8-K) — 33KB
• glpi-amendmentno2amendedrc.htm (EX-10.2) — 1598KB
• 0001575965-24-000039.txt ( ) — 2003KB
• glpi-20241202.xsd (EX-101.SCH) — 2KB
• glpi-20241202_lab.xml (EX-101.LAB) — 21KB
• glpi-20241202_pre.xml (EX-101.PRE) — 12KB
• glpi-20241202_htm.xml (XML) — 3KB

01. Entry into A Material Definitive Agreement

Item 1.01. Entry into A Material Definitive Agreement. Amendment No. 2 to Credit Agreement On December 2, 2024, GLP Capital, L.P. ("GLP"), the operating partnership of Gaming and Leisure Properties, Inc. ("GLPI"), entered into Amendment No.2 (the "Amendment") to the Credit Agreement among GLP, Wells Fargo Bank, National Association, as administrative agent ("Agent"), and the several banks and other financial institutions or entities party thereto, dated as of May 13, 2022 (the "Credit Agreement"). Pursuant to the Amendment, revolving commitments under the Credit Agreement were increased from $1,750,000,000 to $2,090,000,000 and the maturity date of revolving loans and commitments under the Credit Agreement was extended to December 2, 2028. In addition, the Amendment provides GLP with the right to elect to re-allocate up to $1,040,000,000 in existing revolving commitments under the Credit Agreement to one or more new revolving credit facilities (each a "Bridge Revolving Facility" and, collectively, the "Bridge Revolving Facilities"). Loans under any Bridge Revolving Facility are subject to 1% amortization per annum. Amounts repaid under any Bridge Revolving Facility cannot be reborrowed and the corresponding commitments are automatically re-allocated to the existing revolving facility under the Credit Agreement. Bridge Revolving Facilities are intended to be used solely to fund cash distributions to third-party contributors in connection with their contribution of one or more properties to GLP. GLP's ability to borrow under any Bridge Revolving Facility is subject to certain conditions including pro forma compliance with GLP's financial covenants, as well as the receipt by the Agent of a satisfactory conditional guarantee of the loans under the applicable Bridge Revolving Facility by the applicable contributor or its affiliate, subject to the prior enforcement of all remedies against GLP, GLPI and other applicable sources other than such guarantor. Loans unde

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.2 Amendment No. 2 to Credit Agreement, dated as of December 2, 2024, by and among GLP Capital, L.P., Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: December 4, 2024 GAMING AND LEISURE PROPERTIES, INC. By: /s/ Peter M. Carlino Name: Peter M. Carlino Title: Chairman of the Board and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR