Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 141

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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40

Single Property LeasesBelterra Park LeaseHorseshoe St Louis LeaseMorgantown LeaseMD Live! LeaseOperatorBoydCaesarPENNCordishPropertiesBelterra Park Gaming & Entertainment CenterHorseshoe St. LouisHollywood Casino MorgantownLive! Casino & Hotel MarylandCincinnati, OHSt. Louis, MOMorgantown, PAHanover, MDCommencement Date10/15/20189/29/202010/1/202012/29/2021Lease Expiration Date04/30/203110/31/203310/31/204012/31/2060Remaining Renewal Terms20 (4x5 years)20 (4x5 years)30 (6x5 years)21 (1x11 years, 1x10 years)Corporate GuaranteeNoYesYesNoTechnical Default Landlord ProtectionYesYesYesYesDefault Adjusted Revenue to Rent Coverage1.41.2N/A1.4Competitive Radius Landlord ProtectionYesYesN/AYesEscalator DetailsYearly Base Rent Escalator Maximum2%1.25% (1) 1.25% (2) 1.75%Coverage ratio at March 31, 20253.311.95N/A3.60Minimum Escalator Coverage Governor1.8N/AN/AN/AYearly Anniversary for RealizationMayOctoberDecemberJanuaryPercentage Rent Reset DetailsReset Frequency2 yearsN/AN/AN/ANext ResetMay 2026N/AN/AN/A

(1)    For the second through fifth lease years, after which time the annual escalation becomes 1.75% for the 6th and 7th lease years and then 2% for the remaining term of the lease.  

(2)    If the CPI increase is at least 0.5% for any lease year, the rent for such lease year shall increase by 1.25% of rent as of the immediately preceding lease year, and if the CPI increase is less than 0.5% for such lease year, then the rent shall not increase for such lease year.    

41

Single Property LeasesTropicana LeaseTioga Downs LeaseRockford LeaseChicago LeaseOperatorBally'sAmerican Racing and Entertainment (managed by Hard Rock)Bally'sPropertiesTropicana Las VegasTioga DownsHard Rock Casino RockfordBally's Chicago DevelopmentLas Vegas, NVNicholas