Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 1

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 1
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 the “forward sale agreements”) with each of Bank of America, N.A.,
Barclays Bank PLC, Citibank, N.A., Citizens JMP Securities, LLC, Goldman Sachs & Co. LLC, Jefferies LLC, KeyBanc Capital Markets Inc., Mizuho Markets Americas LLC, Morgan Stanley & Co. LLC, Nomura Global Financial Products, Inc.,
Raymond James & Associates, Inc., Royal Bank of Canada, The Bank of Nova Scotia, StoneX Financial Inc., Truist Bank and Wells Fargo Bank, National Association, or one of their affiliates, each as forward purchaser (in such capacity, each a
“Forward Purchaser,” and collectively, the “Forward Purchasers”) under a separate forward sale agreement between us and a Forward Seller or its affiliate or agent (each, a “forward sale agreement,” and collectively, the
“forward sale agreements”). In connection with any forward sale agreement, we expect the relevant Forward Purchaser or its affiliate will, at our request, use commercially reasonable efforts, consistent with its normal trading and sales
practices for similar transactions, to borrow from third parties and, through the applicable Forward Seller, sell a number of shares of our common stock equal to the number of shares of our common stock underlying such forward sale agreement, to
hedge such Forward Purchaser’s exposure under such forward sale agreement. In no event will the aggregate number of shares of our common stock sold through the Sales Agents or Forward Sellers (or directly to the Sales Agents, acting as
principals) under the Sales Agreement, under any terms agreement (as described below) and any forward sale agreements have an aggregate gross sales price in excess of $1,250,000,000 in the aggregate. Unless otherwise expressly stated or the context
otherwise requires, the “appointed”, “applicable”, “related” or “relevant” Forward Seller with respect to a particular Forward Purchaser will be the Forward Seller entity that is the same entity as, or an
affiliate of, such Forward Purchaser, and references herein to “applicable” Forward Purchaser or “applicable” forward sale agreements mean, with respect to any Forward Purchaser and any forward sale agreement, the Forward
Purchaser party to such forward sale agreement, as applicable.

Offers and sales, if any, of the shares of our common stock offered by this prospectus supplement and the
accompanying prospectus made through the Sales Agents, as our sales agents or as Forward Sellers, will be made in “at