Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 16

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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,224,939 units outstanding at March 31, 2025 and December 31, 2024, respectively)379,317 376,962 Total equity 4,594,528 4,645,524 Total liabilities and equity $12,132,521 $13,075,949 

See accompanying notes to the condensed consolidated financial statements.

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Table of Contents

Gaming and Leisure Properties, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(in thousands, except per share data)

(unaudited)

 Three Months Ended March 31, 20252024Revenues  Rental income$340,252 $330,582 Income from investment in leases, financing receivables47,764 44,305 Income from sales-type lease3,760 — Interest income from real estate loans3,459 1,077 Total income from real estate395,235 375,964 Operating expenses  Land rights and ground lease expense13,555 11,818 General and administrative18,713 17,886 Gains from dispositions of property(125)— Depreciation65,012 65,360    Provision (benefit) for credit losses, net39,246 23,294 Total operating expenses136,401 118,358 Income from operations258,834 257,606 Other income (expenses)  Interest expense(97,272)(86,675)Interest income9,356 9,232 Total other expenses(87,916)(77,443)Income before income taxes170,918 180,163 Income tax expense564 637 Net income$170,354 $179,526 Net income attributable to non-controlling interest in the Operating Partnership(5,170)(5,062)Net income attributable to common shareholders$165,184 $174,464 Earnings per common share:  Basic earnings attributable to common shareholders$0.60 $0.64 Diluted earnings attributable to common shareholders$0.60 $0.64 

See accompanying notes to the condensed consolidated financial statements.

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Table of Contents

Gaming and Leisure Properties, Inc. and Subsidiaries

Condensed Consolidated Statements of Changes in Equity

(in thousands, except share data)

(unaudited)

  Common StockAdditionalPaid-InCapitalAccumulatedDef