Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 15

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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rolling interests in GLPI's Operating Partnership (8,224,939 units outstanding at September 30, 2025 and December 31, 2024, respectively)379,545 376,962 Total equity 4,955,851 4,645,524 Total liabilities and equity $12,786,571 $13,075,949 

See accompanying notes to the condensed consolidated financial statements.

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Table of Contents

Gaming and Leisure Properties, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

(in thousands, except per share data)

(unaudited)

 Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Revenues    Rental income$341,755 $333,244 $1,021,534 $996,641 Income from investment in leases, financing receivables48,066 47,503 143,756 137,782 Income from sales-type lease3,767 1,240 11,289 1,240 Interest income from real estate loans4,022 3,354 11,142 6,268 Total income from real estate397,610 385,341 1,187,721 1,141,931 Operating expenses    Land rights and ground lease expense13,785 11,758 41,282 35,446 General and administrative16,552 13,472 51,172 45,209 Gains from dispositions of property— (3,790)(125)(3,790)Depreciation67,473 64,771 201,720 195,393    Provision (benefit) for credit losses, net(37,363)27,686 55,611 47,194 Total operating expenses60,447 113,897 349,660 319,452 Income from operations337,163 271,444 838,061 822,479 Other income (expenses)    Interest expense(94,059)(95,705)(281,265)(269,050)Interest income9,720 14,876 23,656 32,173    Loss on debt extinguishment(3,783)— (3,783)— Total other expenses(88,122)(80,829)(261,392)(236,877)Income before income