Company: GLPI
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001575965-25-000008
Chunk: 180

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 180
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2023  for the Company's Investment in leases, financing receivables. The present value of the net investment in lease payment receivable and unguaranteed residual value at December 31, 2024 was $256.7 million and $21.8 million for the Company's Investment in leases, sales type.At December 31, 2024, minimum lease payments owed to us for each of the five succeeding years under the Company's financing receivables were as follows (in thousands):Year ending December 31,Future Minimum Lease Payments- Sales TypeFuture Minimum Lease Payments for Investment in leases, financing receivables2025$14,837 $164,103 202614,837 166,917 202714,837 169,858 202814,837 172,851 202914,837 175,897 Thereafter634,271 8,957,372 Total$708,456 $9,806,998 The change in the allowance for credit losses for the Company's investment in leases is illustrated below (in thousands):Balance at December 31, 2022Initial allowance from current period investmentsCurrent period change in credit allowanceEnding Balance at December 31, 2023Initial allowance from current period investmentsCurrent period change in credit allowanceBalance at December 31, 2024Maryland Live Lease$4,095 $— $1,566 $5,661 $— $3,071 $8,732 PA Live Master Lease15,029 — (1,393)13,636 — 4,835 18,471 Rockford Lease— 3,867 (1,193)2,674 — 403 3,077 Tioga Lease— — — — 1,579 1,072 2,651 Strategic Lease— — — — 856 278 1,134 Tropicana LV Lease— — — — 21,293 2,388 23,681 Total$19,124 $3,867 $(1,020)$21,971 $23,728 $12,047 $57,746 

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The amortized cost basis of the Company's investment in leases, financing receivables by year of origination is shown below as of December 31, 2024 (in thousands):Origination year