Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 40

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 to 8% from 10% with a maturity date of June 30, 2026, subject to a 6 month extension.  The Company also entered into the Ione Loan for up to $110 million, of which $39.3 million and $15.2 million was drawn as of September 30, 2025 and December 31, 2024, respectively.  The following is a summary of the balances of the Company's Real estate loans, net.September 30, 2025December 31, 2024(in thousands)Real estate loans$189,346 $165,160 Less: Allowance for credit losses(12,464)(4,570)Real estate loans, net$176,882 $160,590 

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The change in the allowance for credit losses for the Company's Real estate loans is shown below (in thousands):Rockford LoanIone LoanTotalDecember 31, 2024$(4,487)$(83)$(4,570)Change in allowance(2,939)(67)(3,006)Ending balance at March 31, 2025(7,426)(150)(7,576)Change in allowance(6,877)(208)(7,085)Ending balance at June 30, 2025(14,303)(358)(14,661)Change in allowance2,126 71 2,197 Ending balance at September 30, 2025$(12,177)$(287)$(12,464)Rockford LoanIone LoanTotalBalance at December 31, 2023$(964)$— $(964)Change in allowance(729)— (729)Ending balance at March 31, 2024(1,693)— (1,693)Change in allowance(935)— (935)Ending balance at June 30, 2024(2,628)— (2,628)Change in allowance(2,190)(59)(2,249)Ending balance at September 30, 2024$(4,818)$(59)$(4,877)The amortized cost basis of the Company's real estate loans, financing receivables by year of origination is shown below as of September 30, 2025 (in thousands):Origination yearReal estate loansAllowance for credit lossesAmortized cost basis at  September 30, 2025Allowance as a percentage of