Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 22

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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)Acquisition of real estate, net (5,000)(1,478)Originations of real estate loans(10,669)(53,000)Acquisition of held to maturity investment securities — (340,975)Maturities of held to maturity investment securities549,995 — Net cash provided by (used in) investing activities500,353 (604,757)Financing activities  Dividends paid(429,994)(413,161)Non-controlling interest distributions(12,849)(12,294)Taxes paid related to shares withheld for tax purposes on restricted stock award vestings(14,806)(14,710)Proceeds from issuance of common stock, net403,037 9,016 Financing costs8 — Repayments of long-term debt(850,084)(63,540)Net cash used in financing activities(904,688)(494,689)Net decrease in cash and cash equivalents141,532 (589,489)Cash and cash equivalents at beginning of period462,632 683,983 Cash and cash equivalents at end of period$604,164 $94,494 

See accompanying notes to the condensed consolidated financial statements and Note 14 for supplemental cash flow information and noncash investing and financing activities.

7

Gaming and Leisure Properties, Inc.

Notes to the Condensed Consolidated Financial Statements

(unaudited)

1.    Business and Operations

 Gaming and Leisure Properties, Inc. ("GLPI") is a self-administered and self-managed Pennsylvania real estate investment trust ("REIT"). GLPI (together with its subsidiaries, the "Company") was incorporated as a wholly-owned subsidiary of PENN Entertainment, Inc., formerly known as Penn National Gaming, Inc. (NASDAQ: PENN) ("PENN"). On November 1, 2013, PENN contributed to GLPI, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with PENN’s real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville and then spun-off GLPI to holders of PENN's common and preferred stock in a tax-free distribution (the "Spin-Off"). Since 2021, the Company has been structured as an umbrella partnership REIT under which substantially all of its business is conducted through GLP Capital, L.P. ("GLP Capital"), the