Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 11

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 11
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% of the Operating Partnership as the sole general partner. The limited partners are certain entities that received units of limited partnership interest in the Operating Partnership (“OP Units”) in connection with an
acquisition. Limited partners may, subject to certain limitations and adjustments, redeem their OP Units for cash or, at our option, exchange them for shares of common stock of GLPI on a one-for-one basis.

Corporate Information

Our principal executive offices are located at 845 Berkshire Blvd., Suite 200, Wyomissing, Pennsylvania 19610, and our telephone number is (610) 401-2900. Our website address is www.glpropinc.com. Information found on, or accessible through, our website is not a part of, and is not incorporated into, this prospectus supplement or the accompanying prospectus,
and you should not consider it part of this prospectus supplement or the accompanying prospectus. For additional information, see “Information Incorporated by Reference” in this prospectus supplement and in the accompanying prospectus, and
“Where You Can Find More Information” in the accompanying prospectus.

S-2

THE OFFERING The following summary of the offering contains basic information about the offering and our common stock and is not intended to be complete. It does not contain all the information that may be important to you. For a more complete understanding of our common stock, please refer to the section of the accompanying prospectus entitled “Description of Capital Stock of GLPI”.

| Issuer | Gaming and Leisure Properties, Inc. |

| Common Stock Offered by Us | Up to $1,250,000,000 aggregate gross sales price of our common stock. The shares of common stock may be offered and sold from time to time pursuant to this prospectus supplement and the accompanying prospectus. The shares of common stock include 
 newly issued shares that may be offered and sold by us to or through the Sales Agents, acting as our sales agents or as principals, as well as borrowed shares of common stock that may be offered and sold by the Forward Purchasers through their   
 respective Forward Sellers.                                                                                                                                                                                                                           |

| Use of Proceeds | We intend to contribute the net proceeds, if any, from issuances and sales of our common stock to or through the Sales Agents and upon the settlement of any forward sale agreements with the relevant Forward Purchasers to the Operating                
 Partnership in exchange for OP Units. The Operating Partnership intends to subsequently use such net proceeds for general corporate purposes, which may include funding potential acquisition opportunities, repaying outstanding indebtedness,