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Gaming and Leisure Properties

GLPI

Gaming and Leisure Properties, Inc. (GLPI) is a self-administered and self-managed real estate investment trust (REIT) primarily focused on the gaming industry.

Market cap
$12.66B-2.2%
Revenue$1.6B+4.4%
Net income$891.8M+15.0%
Free cash flow$744.1M-29.4%
EPS (diluted)$3.16+11.7%
Trailing twelve months · change vs. prior year

Earnings

Next report

Jul 30, 2026 (In 6 days)
Revenue estimate$428.5M
EPS estimate$0.80

Financials

Q1 2026

Income statement

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Revenue$420.0M+6.3%
Operating income$333.3M+28.8%
Net income$231.8M+40.3%
EPS (diluted)$0.82+36.7%

Balance sheet

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Cash & equivalents$274.5M+62.6%
Total debt$8.4B+2.6%
Total equity$4.6B+10.0%
Total assets$13.8B+13.5%

Cash flow

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Operating cash flow$270.2M+7.0%
CapEx$111.5M+764%
Free cash flow$158.8M-33.7%

Valuation & ratios

Valuation

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Market cap$12.66B-2.2%
Enterprise value$20.77B+1.2%
P/E14.2×-3.8×
P/S7.8×-0.5×

Profitability

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Operating margin78.8%+5.8pp
Net margin55.1%+5.1pp
FCF margin45.9%-22.0pp

Returns & leverage

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Return on equity20.2%+1.6pp
Debt / equity1.8×-0.1×

Competitors

Profile

Gaming and Leisure Properties, Inc. (GLPI) is a self-administered and self-managed real estate investment trust (REIT) primarily focused on the gaming industry. The company specializes in acquiring, financing, and owning real estate property to be leased to gaming operators under long-term, triple-net lease arrangements. Its core value proposition lies in providing investors with exposure to the gaming sector's growth through stable, resilient cash flows generated by geographically diversified regional gaming assets.

Competitive position

GLPI is a leading specialty REIT with a significant portfolio of regional gaming assets, characterized by high occupancy and long-term lease structures with major industry operators.

GeographiesUnited States
Customer segmentsGaming Operators, Publicly Traded Corporations
Business modelTriple-Net Lease, UPREIT, Real Estate Investment
SuppliersCapital Markets, Debt Financing, Real Estate Developers, Gaming Regulatory Authorities
CustomersPENN Entertainment, Caesars Entertainment, Boyd Gaming, Bally's Corporation, The Cordish Companies, Hard Rock International, Strategic Gaming Management, American Racing & Entertainment
Listed2013
Employees18.0
CEOPeter Carlino
FilingsSEC EDGAR

Questions, answered.

What is Gaming and Leisure Properties's market cap?
Gaming and Leisure Properties (GLPI) has a market capitalization of $12.7B and trades on NASDAQ.
What is Gaming and Leisure Properties's revenue and profitability?
Gaming and Leisure Properties generated $1.6B in trailing twelve-month revenue with net income of $891.8M, representing a net margin of 55.1%. Gross margin stands at 100.0%, with free cash flow of $744.1M. These figures are based on the Q1 2026 filing.
Who are Gaming and Leisure Properties's competitors?
Gaming and Leisure Properties's key competitors include VICI Properties Inc., LTC Properties, Inc., Four Corners Property Trust, Inc., and others. These companies compete in similar markets and product categories.
Who does Gaming and Leisure Properties partner with?
Gaming and Leisure Properties's notable partners include PENN Entertainment, Inc., Caesars Entertainment, Inc., Boyd Gaming Corporation, and others.
What subsidiaries does Gaming and Leisure Properties have?
Gaming and Leisure Properties's subsidiaries include GLP Capital, L.P..
Where is Gaming and Leisure Properties headquartered?
Gaming and Leisure Properties is headquartered in United States of America and employs approximately 18 people. It has been publicly traded since 2013.