Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 195

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 195
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 our acquisitions and lower interest income earned on cash and investments partially offset by an increase in total revenues of $45.8 million. 

The decrease in FFO for the nine months ended September 30, 2025 was due to the items described above, excluding gains from dispositions of property and real estate depreciation.  The increases in AFFO and Adjusted EBITDA were due to the items described above, as well as the adjustments mentioned in the tables above.  

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Revenues

Revenues for the three and nine months ended September 30, 2025 and 2024 were as follows (in thousands):

 Three Months Ended September 30, Percentage20252024VarianceVarianceRental income$341,755 $333,244 $8,511 2.6 %Income from investment in leases, financing receivables48,066 47,503 563 1.2 %Income from sales type leases3,767 1,240 2,527 203.8 %Interest income from real estate loans4,022 3,354 668 19.9 %Total income from real estate$397,610 $385,341 $12,269 3.2 %

Nine Months Ended September 30,Percentage20252024VarianceVarianceRental income$1,021,534 $996,641 $24,893 2.5 %Income from investment in leases, financing receivables143,756 137,782 5,974 4.3 %Income from sales type leases11,289 1,240 10,049 810.4 %Interest income from real estate loans11,142 6,268 4,874 77.8 %Total income from real estate1,187,721 $1,141,931 45,790 4.0 %

Total income from real estate

•Total income from real estate increased by $12.3 million to $397.6 million for the three months ended September 30, 2025 compared to $385.3 million for the corresponding period in the prior year. The reason for the increase was primarily due to our recent acquisitions which in the aggregate increased cash rental income by $16.5 million for the three months ended September 30, 2025.  Additionally, the three months ended September 30, 2025 benefited by $4.0