Gaming and Leisure Properties Inc. is an American self-administered and self-managed real estate investment trust (REIT) engaged in the acquisition, financing, and ownership of casino properties within the United States. The firm is based in Wyomissing, Pennsylvania, and has a property portfolio that includes 50 casino, gaming, and related facilities across 17 states. Gaming and Leisure Properties Inc. was founded in 2013 as part of a spin-off from Penn National Gaming Inc.
Its real estate assets are generally leased to gaming operators in triple-net lease arrangements. Tenants include Penn National Gaming, Caesars Entertainment, Boyd Gaming Corporation, Casino Queen, and Bally’s. Most properties are owned by the REIT and leased to tenants. However, as of 2021, the firm does own and operate one venue, Hollywood Casino Baton Rouge.
Gaming and Leisure Properties expects to grow its real estate portfolio both by acquiring more existing gaming facility properties to lease to casino operators and potentially by also diversifying its portfolio over time to acquire a wider range of properties within other industries, still with the intention to lease these assets to third parties. It is listed on the NASDAQ, where it trades under the stock ticker GLPI.
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