Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 150

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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 1, 2027.  

33

Master LeasesAmended Pinnacle Master LeaseBally's Master LeaseOperatorPENNBally'sPropertiesAmeristar Black HawkBlack Hawk, COBally's EvansvilleEvansville, INAmeristar East ChicagoEast Chicago, INBally's Dover Casino ResortDover, DEAmeristar Council BluffsCouncil Bluffs, IABlack Hawk (Black Hawk North, West and East casinos)Black Hawk, COL'Auberge Baton RougeBaton Rouge, LAQuad Cities Casino & HotelRock Island, ILBoomtown Bossier CityBossier City, LABally's Tiverton Hotel & CasinoTiverton, RIL'Auberge Lake CharlesLake Charles, LAHard Rock Casino and Hotel BiloxiBiloxi, MSBoomtown New OrleansNew Orleans, LAAmeristar VicksburgVicksburg, MSRiver City Casino & HotelSt. Louis, MOJackpot Properties (Cactus Petes and Horseshu)Jackpot, NVPlainridge Park CasinoPlainridge, MACommencement Date4/28/20166/3/2021Lease Expiration Date4/30/20316/2/2036Remaining Renewal Terms20 (4x5 years)20 (4x5 years)Corporate GuaranteeYesYesMaster Lease with Cross CollateralizationYesYesTechnical Default Landlord ProtectionYesYesDefault Adjusted Revenue to Rent Coverage1.21.2Competitive Radius Landlord ProtectionYesYesEscalator DetailsYearly Base Rent Escalator Maximum2 %(1)Coverage ratio at December 31, 2024 1.73 (2)2.01Minimum Escalator Coverage Governor1.8N/AYearly Anniversary for RealizationMayJunePercentage Rent Reset DetailsReset Frequency2 yearsN/ANext ResetMay-26N/A

(1)    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.  

(2)    Coverage ratio for escalation purposes excludes adjusted revenue and rent attributable to the Plainridge Park facility as well as certain other fixed rent amounts.  

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Master LeasesBally's Master Lease IICasino Queen Master Lease