Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 12

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 12
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 lenders under the Revolving Credit Agreement and the Term Loan Credit Agreement, as our subsidiaries may in the future elect to guarantee the Revolving |

S-3

| Credit Facility and the Term Loan Credit Facility without triggering a guarantee obligation with respect to the notes) and holders of any of our debt that is guaranteed by any of our subsidiaries 
 will have a prior claim, ahead of the notes, on all of such subsidiaries’ assets.                                                                                                                   |

| As of June 30, 2025, as adjusted to give effect to the issuance of the notes offered hereby and the application of the proceeds from this offering as described under “Use of Proceeds”, we would have had                               
 approximately $  billion of long-term indebtedness, net of unamortized issuance costs, bond premiums and original issuance discounts, including $  representing the notes offered hereby, $5.050 billion of existing senior              
 unsecured notes, $600.0 million of indebtedness outstanding under the Term Loan Credit Facility (which is fully drawn), $332.5 million of indebtedness outstanding under the Revolving Credit Facility, and would have had approximately 
 $1,757.2 million of availability under the Revolving Credit Facility (including $0.4 million of contingent obligations under letters of credit).                                                                                         |

| Optional Redemption | Prior to    ,    months prior to their maturity date (the “20  notes Par Call Date”), we may redeem the 20  notes at our option, in whole or in part, at any time and from time                                        
 to time, at the redemption price described under “Description of Notes—Redemption—Optional Redemption” in this prospectus supplement, plus accrued and unpaid interest thereon to, but excluding, the redemption date. |

| Prior to    ,    months prior to their maturity date (the “20  notes Par Call Date”), we may redeem the 20  notes at our option, in whole or in part,                                                                           
 at any time and from time to time, at the redemption price described under “Description of Notes—Redemption—Optional Redemption” in this prospectus supplement, plus accrued and unpaid interest thereon to, but excluding, the 
 redemption date.                                                                                                                                                                                                                |

| On or after the 20  notes Par Call Date or the 20  notes Par Call