Company: GLPI
Filing Date: 2025-05-01
Form Type: S-3ASR
Source: 0001193125-25-110027
Chunk: 46

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-01
Form: S-3ASR
Chunk 46
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 as a REIT under 
 Sections 856 through 860 of the Code;                                                                      |

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| (4) | that is neither a financial institution nor an insurance company subject to applicable provisions of the Code; |

| (5) | the beneficial ownership of which is held by 100 or more persons; |

| (6) | during the last half of each taxable year not more than 50% in value of the outstanding shares of which is         
 owned directly or indirectly by five or fewer “individuals,” as defined in the Code to include specified entities; |

| (7) | that makes an election to be taxable as a REIT, or has made this election for a previous taxable year, which                                                                           
 has not been revoked or terminated, and satisfies all relevant filing and other administrative requirements established by the IRS that must be met to elect and maintain REIT status; |

| (8) | that uses a calendar year for U.S. federal income tax purposes and complies with the recordkeeping requirements 
 of the Code and regulations promulgated thereunder; and                                                         |

| (9) | that meets other applicable tests, described below, regarding the nature of its income and assets and the 
 amount of its distributions.                                                                              |

Conditions (1), (2), (3) and (4) above must be met during the entire taxable year and condition (5) above must be met during at least 335 days of a taxable year of 12 months, or during a proportionate part of a taxable year of less than 12 months. Conditions (5) and (6) need not be satisfied during a corporation’s initial tax year as a REIT (which, in our case, was our taxable year beginning on January 1, 2014). For purposes of determining stock ownership under condition (6) above, a supplemental unemployment compensation benefits plan, a private foundation and a portion of a trust permanently set aside or used exclusively for charitable purposes generally are each considered an individual. For purposes of condition (6) above, a trust that is a qualified trust under Code Section 401(a) generally is not considered an individual, and beneficiaries of a qualified trust are generally treated as holding shares of a REIT in proportion to their actuarial interests in the trust, stock owned by an entity is attributed to the owners of the entity, a person is deemed to own stock that the person has an option to acquire and an individual is deemed to own stock owned by certain family members. A successful challenge to our