Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 95

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 $93,760 Balance at December 31, 2023Change in AllowanceBalance at March 31, 2024Maryland Live! Lease$5,661 $7,094 $12,755 Pennsylvania Live! Master Lease13,636 12,949 26,585 Rockford Lease2,674 582 3,256 Tioga Downs Lease— 1,579 1,579 Totals$21,971 $22,204 $44,175 

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The amortized cost basis of the Company's investment in leases, financing receivables by year of origination is shown below as of March 31, 2025 (in thousands):Origination yearInvestment in leases, financing receivablesAllowance for credit lossesAmortized cost basis at  March 31, 2025Allowance as a percentage of outstanding financing receivable2024$296,540 $(10,619)$285,921 (3.58)%2023103,368 (5,118)98,250 (4.95)%2022715,936 (30,757)685,179 (4.30)%20211,258,234 (14,428)1,243,806 (1.15)%Total$2,374,078 $(60,922)$2,313,156 (2.57)%The amortized cost basis of the Company's investment in leases, sales type by year of origination is shown below as of March 31, 2025 (in thousands):Origination yearInvestment in leases, sales typeAllowance for credit lossesAmortized cost basis at  March 31, 2025Allowance as a percentage of outstanding financing receivable2024$278,499 $(32,838)$245,661 (11.79)%During the three months ended March 31, 2025, the Company recorded a provision for credit losses, net of $36.0 million on the Investment in leases, financing receivables and sales types.  The reason for the increase was primarily due to a more pessimistic forward looking economic forecast at March 31, 2025 compared to what was utilized at December 31, 2024.   During the three months ended March 31, 2024, the Company recorded a provision for credit losses, net of $22.2 million on