Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 14

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 14
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 general corporate purposes, which may include funding development and expansion    
 projects at existing and new properties, repayment of indebtedness (including partial redemption of the 2026 Notes), capital expenditures and other general business purposes. See “Use of Proceeds”.                                              |

| For the avoidance of doubt, nothing contained in this prospectus supplement constitutes a notice of redemption of the 2026 Notes. |

| Conflicts of Interest | As described above under “Use of Proceeds”, we intend to use the net proceeds from this offering to fund the redemption of the 2026 Notes.                                                                                                              
 Because certain of the underwriters and/or their affiliates may hold a position in the 2026 Notes, more than 5% of the net proceeds of this offering (not including underwriting discounts and commissions) may be received by such underwriters and/or 
 affiliates. Nonetheless, in accordance with the Financial Industry Regulatory Authority, Inc. Rule 5121, the appointment of a qualified independent underwriter is                                                                                      |

S-5

| not necessary in connection with this offering. See “Underwriting—Conflicts of Interest”. |

| Risk Factors | In analyzing an investment in the notes, you should carefully consider, along with other matters included or incorporated by reference in this prospectus supplement or the accompanying prospectus, the information set forth under “Risk 
 Factors” beginning on page S-9 of this prospectus supplement and in the 2024 10-K.                                                                                                                                                         |

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Summary Historical Consolidated Financial Information The following summary historical consolidated financial and operating data for the three-year period ended December 31, 2024, and the summary historical consolidated balance sheet data as of December 31, 2024 and 2023 have been derived from, and should be read together with, our audited consolidated financial statements and related notes and the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our 2024 10-K,which is incorporated by reference into this prospectus supplement. See “Information Incorporated by Reference”. The summary historical consolidated financial information for each of the six-monthperiods ended June 30, 2025 and 2024, respectively, and the summary historical consolidated balance sheet data as of June 30, 2025 have been derived from, and should be read together with, our unaudited consolidated financial statements and related notes and the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Quarterly Report on Form