Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 121

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 Condensed Consolidated Balance Sheets.  In accordance with ASC 842, the Company records revenue for the ground lease rent paid by its tenant with an offsetting expense in interest expense as the Company has concluded that as the lessee it is the primary obligor under the ground leases. The Company's weighted average discount rate on the fixed minimum annual payments was 5.07% to arrive at the initial lease obligations.  At September 30, 2025, payments under the Company's financing lease liabilities were as follows (in thousands):2025 (remainder of year)$675 20262,712 20272,735 20282,758 20292,782 Thereafter311,040 Total lease payments$322,702 Less: Interest(261,597)Present value of finance lease liability$61,105 

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7.    Long-term Debt

 Long-term debt is as follows: September 30,2025December 31,2024 (in thousands)Unsecured $2,090 million revolver due December 2028$332,455 $332,455 Term Loan Credit Facility due September 2027600,000 600,000 $850 million 5.250% senior unsecured notes due June 2025— 850,000 $975 million 5.375% senior unsecured notes due April 2026— 975,000 $500 million 5.750% senior unsecured notes due June 2028500,000 500,000 $750 million 5.300% senior unsecured notes due January 2029750,000 750,000 $700 million 4.000% senior unsecured notes due January 2030700,000 700,000 $700 million 4.000% senior unsecured notes due January 2031700,000 700,000 $800 million 3.250% senior unsecured notes due January 2032800,000 800,000 $600 million 5.250% senior unsecured notes due February 2033600,000 — $400 million 6.750% senior unsecured notes due December 2033400,000 400,000 $800 million 5.625% senior unsecured notes due September 2034800,000 800,000 $700 million 5.750% senior unsecured notes due November 2037700,