Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 2

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 2
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 the market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”),
including, without limitation, sales made directly on The Nasdaq Global Select Market (“Nasdaq”), the existing trading market for our common stock, or sales made to or through a market maker or through an electronic communications network.
In addition, such shares of our common stock may be offered and sold by other methods, including by privately negotiated transactions (including block transactions) or by any other methods permitted by applicable law, as we and the relevant Sales
Agents, as our sales agents or as Forward Sellers agree. Under the terms of the Sales Agreement, we also may sell shares of our common stock to one or more Sales Agents, acting as principal for its own account, at a price to be agreed upon at the
time of sale. If we sell shares of our common stock to one or more Sales Agents, acting as principal, we will enter into a separate terms agreement with such Sales Agent or Sales Agents, as the case may be, and we will describe the terms of the
offering of those shares in a separate prospectus supplement or pricing supplement.

If we enter into forward sale agreements, we will not initially
receive any proceeds from any sale of shares or our common stock borrowed by a Forward Purchaser or its affiliate and sold through the related Forward Seller. We currently expect to fully physically settle each forward sale agreement, if any, with
the relevant Forward Purchaser on one or more dates specified by us on or prior to the maturity date of such forward sale agreement, in which case we will expect to receive aggregate net cash proceeds at settlement equal to the number of shares
specified in such forward sale agreement multiplied by the relevant forward sale price per share. However, subject to certain exceptions, we may also elect, in our sole discretion, to cash settle or net share settle all or any portion of our
obligations under any forward sale agreement, in which case we may not receive any proceeds (in the case of cash settlement) or will not receive any proceeds (in the case of net share settlement), and we may owe cash (in the case of cash settlement)
or shares of our common stock (in the case of net share settlement) to the relevant Forward Purchaser. See “Plan of Distribution” in this prospectus supplement.

None of the Sales Agents, whether acting as our sales agent or as Forward Seller, is required to sell any specific number or dollar amount of shares