Gaming and Leisure Properties: A REIT specializing in casino properties

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Here I would like to introduce you to some unfamiliar companies that you may probably haven't heard of, and hope it can be of some help to your investments.

The company I'm going to introduce this time is $Gaming and Leisure Properties(GLPI)$.

It went public on 14th Oct 2013.

[Company Profile]

Gaming and Leisure Properties, Inc. is areal estate investment trust(REIT) specializing incasinoproperties, based inWyomissing, Pennsylvania. It was formed in November 2013 as acorporate spin-offfromPenn National Gaming. The company owns 55 casino properties, all of which are leased to other companies.

[History & Events]

2013: The company was created as a corporate spin-off from Penn National Gaming (now Penn Entertainment), effective November 1, 2013.

2013: GLPI agreed to finance a proposed billion-dollar casino in Milford, Massachusetts, but the project was killed days later when town voters rejected the casino.

2014: GLPI acquired the real estate assets of the Casino Queen in East St. Louis, Illinois for $140 million, and leased them back to the casino's operating company for $14 million a year.

2015: GLPI agreed to finance the real estate portion of a proposed $650-million casino in New Bedford, Massachusetts, but the plan was canceled months later after developers failed to secure the rest of the needed funding.

2017: GLPI purchased the real estate assets of Bally's Casino Tunica and Resorts Casino Tunica for a total of $83 million, while Penn National simultaneously acquired their operating assets.

2018: GLPI acquired the real estate of five casinos from Tropicana Entertainment for $964 million. The purchase was part of a three-way deal in which Eldorado Resorts simultaneously acquired Tropicana's operating business and leased the casinos from GLPI for a total of $88 million per year.[21]

2020: GLPI took ownership of Lumière Place from Caesars Entertainment (formerly Eldorado Resorts) in October 2020, in satisfaction of a $246 million loan.

2021: GLPI sold the operations of its two owned-and-operated casinos for a total of $59 million, to focus on its core business of real estate.

[Main Business Segments]

[Net Income & Total Revenue]

[Competitors]

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Realty ONE Group

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PATRIZIA Immobillien

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