Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 43

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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Real estate loans, net160,793 168,551 160,590 164,750 Deferred compensation plan assets38,812 38,812 38,948 38,948 Financial liabilities:    Long-term debt:    Amended Credit Agreement and Term Loan Credit Facility932,455 932,455 932,455 932,455 Senior Notes6,025,000 5,861,537 6,875,000 6,665,565 Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisThere were no assets or liabilities measured at fair value on a nonrecurring basis during the three months ended March 31, 2025 and 2024.

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9.    Commitments and Contingencies

 LitigationThe Company is subject to various legal and administrative proceedings relating to personal injuries, employment matters, commercial transactions, and other matters arising in the normal course of business. The Company does not believe that the final outcome of these matters will have a material adverse effect on the Company’s consolidated financial position or results of operations. The majority of these matters are subject to indemnification and defense obligations of our tenants.  The Company maintains what it believes is adequate insurance coverage to further mitigate the risks of such proceedings. However, such proceedings can be costly, time consuming, and unpredictable and, therefore, no assurance can be given that the final outcome of such proceedings may not materially impact the Company’s financial condition, results of operations or liquidity. Further, no assurance can be given that the amount or scope of existing insurance coverage will be sufficient to cover losses arising from such matters. Funding commitments As of March 31, 2025, we have entered into various commitments or call rights to finance/acquire future investments in gaming and related facilities for our tenants. These are detailed in the table below.  Our tenants retain the option to decline our financing for certain projects and may seek alternative financing solutions.  The inclusion of a commitment in this disclosure does not guarantee that the financing will be utilized by the tenant in circumstances where a tenant has the option.  See Note 1 in the Notes to the Condensed Consolidated Financial Statements for further details.  DescriptionMaximum Commitment amountAmount funded at March 31, 2025Relocation of Hollywood Casino Aurora$225 millionNoneRelocation of Hollywood Casino Joliet, construction of a hotel at Hollywood Casino Columbus and a hotel tower at the M Resort$350 millionNoneConstruction improvements at