Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 149

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 is equal to or less than 5.5 to 1, then the ratio shall be reduced to 1.2.  

(2)    If the CPI increase is at least 0.5% for any lease year, then the rent shall increase by the greater of 1% of the rent as of the immediately preceding lease year and the CPI increase capped at 2%.  If the CPI is less than 0.5% for such lease year, then the rent shall not increase for such lease year.    

(3)    Increases by 1.75% beginning with the first anniversary and increases to 2% beginning in year fifteen of the lease through the remainder of the initial lease term.

45

Funding commitments 

As of September 30, 2025, we have entered into various commitments or call rights to finance/acquire future investments in gaming and related facilities for our tenants. These are detailed in the table below.  Our tenants retain the option to decline our financing for certain projects and may seek alternative financing solutions.  The inclusion of a commitment in this disclosure does not guarantee that the financing will be utilized by the tenant in circumstances where a tenant has the option.  See Note 1 in the Notes to the Condensed Consolidated Financial Statements for further details.    

DescriptionMaximum Commitment amountAmount funded at September 30, 2025Relocation of Hollywood Casino Aurora (1)$225 millionNoneRelocation of Hollywood Casino Joliet $130 million$130.0 millionConstruction of a hotel tower at the M Resort (2)$150 millionNoneConstruction of a hotel at Hollywood Casino Columbus$70 millionNoneFunding associated with a landside move at Ameristar Casino Council Bluffs(3)NonePotential transaction at the former Tropicana Las Vegas site with Bally's$175 million$48.5 millionReal estate construction costs for Bally's Chicago $940 millionNone (4)Funding and oversight of a landside move and hotel renovation at The Belle$111 million$75.6 millionConstruction costs for a landside development project at Casino Queen Marquette$16.5 million$5.1 millionIone Loan to fund a new casino development near Sacramento, California$110 million$39.3 millionCall right to acquire Bally's Lincoln$735 millionNone

(1)    PENN anticipates completing the relocation of its riverboat casino in Aurora to a land based facility in the first half of 2026.  The Company anticip