Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 79

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 79
---
7 million, $548.1 million, and $721.6 million for the six months ended June 30, 2025, respectively.  This compares to net income, FFO, AFFO and Adjusted EBITDA of $393.9 million, $523.6 million, $523.0 million and $673.9 million for the corresponding period in the prior year.  The decrease in net income of $67.4 million was primarily attributable to increased operating expenses of $83.7 million (which was driven by the increase in provision for credit losses of $73.5 million) and higher other expenses of $17.2 million (driven by higher interest expense to partially finance our acquisitions and lower interest income earned on cash and investments) partially offset by an increase in total revenues of $33.5 million. 

The decrease in FFO for the six months ended June 30, 2025 was due to the items described above, excluding gains from dispositions of property and real estate depreciation.  The increases in AFFO and Adjusted EBITDA were due to the items described above, as well as the adjustments mentioned in the tables above.  

47

Revenues

Revenues for the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):

 Three Months Ended June 30, Percentage20252024VarianceVarianceRental income$339,527 $332,815 $6,712 2.0 %Income from investment in leases, financing receivables47,926 45,974 1,952 4.2 %Income from sales type leases3,762 — 3,762 N/AInterest income from real estate loans3,661 1,837 1,824 99.3 %Total income from real estate$394,876 $380,626 $14,250 3.7 %

Six Months Ended June 30,Percentage20252024VarianceVarianceRental income$679,779 $663,397 $16,382 2.5 %Income from investment in leases, financing receivables95,690 90,279 5,411 6.0 %Income from sales type leases7,522 — 7,522 N/AInterest income from real estate loans7,120 2,914 4,206 144.3 %Total