Company: GLPI
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001193125-25-181872
Chunk: 4

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-15
Form: 424B5
Chunk 4
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 this prospectus supplement, the accompanying prospectus, including the documents incorporated by reference herein and
therein, or any free writing prospectus we have authorized for use in connection with this offering, an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or
solicitation in such jurisdiction. You should assume that the information contained in this prospectus supplement and the accompanying prospectus, including the documents incorporated by reference herein and therein, and any free writing prospectus
we have authorized for use in connection with this offering, is accurate only as of their respective dates regardless of the time of delivery of this prospectus supplement, the accompanying prospectus and any such free writing prospectus. Our
business, financial condition, results of operations and prospects may have changed since those dates.

It is important for you to read and consider all
information contained in this prospectus supplement and the accompanying prospectus, including the documents incorporated by reference herein and therein, and any free writing prospectus we have authorized for use in connection with this offering in
making your investment decision. See “Information Incorporated by Reference” in this prospectus supplement and in the accompanying prospectus, and “Where You Can Find More Information” in the accompanying prospectus.

This prospectus supplement and the accompanying prospectus contain, or incorporate by reference, forward-looking statements. Such forward-looking statements
should be considered together with the cautionary statements and important factors included or referred to in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein or therein. See “Cautionary
Statement Regarding Forward-Looking Statements” in this prospectus supplement and in the accompanying prospectus.

S-ii

BASIS OF PRESENTATION Except as otherwise indicated or required by the context, references in this prospectus supplement to:

| • |     | “2026 Notes” refers to the Issuers’ 5.375% senior unsecured notes in the aggregate principal 
 amount of $975.0 million that mature on April 15, 2026;                                      |

| • |     | “Capital Corp.” refers to GLP Financing II, Inc., a Delaware corporation and wholly-owned subsidiary of 
 the Operating Partnership;                                                                              |

| • |     | “Existing senior unsecured notes” is defined in “Description of Certain Other 
 Indebtedness—Existing Senior Unsecured Notes”;                                |

| • |     | “GLPI” refers to Gaming and Leisure