Company: GLPI
Filing Date: 2025-05-01
Form Type: S-3ASR
Source: 0001193125-25-110027
Chunk: 10

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-01
Form: S-3ASR
Chunk 10
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 the “TRS Properties”) and then spun-off GLPI to holders of PENN’s common and preferred stock in a tax-free distribution (the “Spin-Off”).

About the Operating Partnership

GLPI owns substantially all of its assets and conducts substantially all of its operations through the Operating
Partnership. The Operating Partnership was formed under Pennsylvania law on March 12, 2013. As of

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March 31, 2025, GLPI controlled approximately 97.0% of the Operating Partnership as the sole general partner. The limited partners are certain entities that received units of limited
partnership interest in the Operating Partnership (“OP Units”) in connection with an acquisition. Limited partners may, subject to certain limitations and adjustments, redeem their OP Units for cash or, at our option, for shares of common
stock of GLPI on a one-for-one basis.

Additional
information regarding GLPI and the Operating Partnership, including audited financial statements and a description of the business of GLPI and the Operating Partnership, is contained in the documents incorporated by reference in this prospectus. See
“Where You Can Find More Information”.

About Capital Corp.

Capital Corp. is a Delaware corporation and a wholly-owned subsidiary of the Operating Partnership. Capital Corp. is nominally capitalized and
does not have any material assets or significant operations, other than with respect to acting as co-issuer or guarantor for certain debt obligations that the Operating Partnership may incur or guarantee from
time to time.

Our principal executive office is located at 845 Berkshire Boulevard, Suite 200, Wyomissing, Pennsylvania 19610 and our
telephone number is (610) 401-2900. Our internet address is. The information contained on, or otherwise accessible through, our website is not incorporated by reference in, and does
not form a part of, this prospectus or any other report or document we file with or furnish to the SEC.

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RISK FACTORS

Before investing in any securities offered pursuant to this prospectus, you should consider carefully all of the information set forth herein,
in any accompanying prospectus supplement and the documents incorporated by reference herein and therein, and any free writing prospectus we authorize to be delivered to you, unless expressly provided otherwise. In particular, investors should refer
to the risk factors described in the most recent Annual Report on Form 10-K of GLPI, as updated by any subsequent filings under the Exchange Act that are incorporated by reference herein, as well as the risk
factors and