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Gaming And Leisure Properties Reports First Quarter 2025 Results and Updates 2025 Full Year Guidance
GLPIGaming & Leisure Properties(GLPI) GlobeNewswire·2025-04-24 20:15

Core Insights - Gaming and Leisure Properties, Inc. (GLPI) reported strong financial results for Q1 2025, with total revenue increasing by 5.1% year-over-year to 395.2million,AdjustedFundsFromOperations(AFFO)growingby5.2395.2 million, Adjusted Funds From Operations (AFFO) growing by 5.2% to 272.0 million, and Adjusted EBITDA rising by 8% [6][8]. Financial Highlights - Total revenue for Q1 2025 was 395.2millioncomparedto395.2 million compared to 376.0 million in Q1 2024 [8]. - Income from operations was 258.8million,slightlyupfrom258.8 million, slightly up from 257.6 million year-over-year [8]. - Net income decreased to 170.4millionfrom170.4 million from 179.5 million in the previous year [8]. - Funds from Operations (FFO) was 234.8million,downfrom234.8 million, down from 244.4 million [8]. - AFFO increased to 272.0millionfrom272.0 million from 258.6 million [8]. - Adjusted EBITDA rose to 360.1millionfrom360.1 million from 333.4 million [8]. Recent Developments - GLPI's recent acquisitions and financing arrangements, along with contractual escalators and a growing base of tenants, are expected to drive growth throughout 2025 [7]. - The company successfully partnered with tenants for four sale-leaseback transactions in 2024 and continued funding projects in Q1 2025, including the landside conversion of Bally's Belle of Baton Rouge Casino [7][10]. - GLPI extended the Master Lease and Belterra Park Lease with Boyd Gaming for five years [7]. - The company funded 18.4millionfortheIoneBandofMiwokIndians′AcornRidgeCasinodevelopment,markingauniquefinancingagreement[10].PortfolioUpdate−AsofMarch31,2025,GLPI′sportfolioincludedinterestsin68gamingandrelatedfacilitiesacross20states,withpropertiesoperatedbymajorgamingoperatorssuchasPENN,Caesars,Boyd,andBally′s[18].2025Guidance−ThecompanyupdateditsAFFOguidanceforthefullyear2025,estimatingitwillbebetween18.4 million for the Ione Band of Miwok Indians' Acorn Ridge Casino development, marking a unique financing agreement [10]. Portfolio Update - As of March 31, 2025, GLPI's portfolio included interests in 68 gaming and related facilities across 20 states, with properties operated by major gaming operators such as PENN, Caesars, Boyd, and Bally's [18]. 2025 Guidance - The company updated its AFFO guidance for the full year 2025, estimating it will be between 1.109 billion and 1.118billion,orbetween1.118 billion, or between 3.84 and $3.87 per diluted share [16].