Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 24

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 24
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 any terms agreement and, to the extent applicable, the number of shares of common
stock issued upon settlement of any forward sale agreements, and the net proceeds to us in connection with such sales of our common stock.

Sales of our
common stock as contemplated by this prospectus supplement will be settled through the facilities of the Depository Trust Company or by such other means as we and the relevant Sales Agent or Forward Seller and Forward Purchaser, as applicable, may
agree upon. In connection with the sale of shares of our common stock on our behalf, each Sales Agent and Forward Purchaser may each be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation paid to
the Sales Agents and the Forward Purchasers may be deemed to be underwriting commissions or discounts. We have agreed to indemnify the Sales Agents,

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Forward Sellers and the Forward Purchasers against specified liabilities, including liabilities under the Securities Act, or to contribute to payments the Sales Agents or the Forward Purchasers
may be required to make in respect of those liabilities.

Our common stock is an “actively traded security” exempted from the requirements of
Rule 101 of Regulation M under the Exchange Act by Rule 101(c)(1) of Regulation M under the Exchange Act. If either we or a Sales Agent or Forward Seller has reason to believe that the exemptive provisions set forth in Rule 101(c)(1)
of Regulation M under the Exchange Act are not satisfied, that party will promptly notify the other and sales of common stock under the Sales Agreement will be suspended until Rule 101(c)(1) or other exemptive provisions have been satisfied in
our and such Sales Agent’s or Forward Seller’s judgment.

The offering of shares of our common stock pursuant to the Sales Agreement will
terminate upon the earlier of (1) the sale of the maximum aggregate amount of common stock subject to the Sales Agreement (including shares sold by us to or through the Sales Agents and borrowed shares sold by or through the Sales Agents,
acting as Forward Sellers) and (2) the termination of the Sales Agreement, pursuant to its terms.

The expenses of this offering, including expenses
paid prior to the date of this prospectus supplement, are estimated at $720,000 and are payable by us.

Our common stock is traded on Nasdaq under the
symbol “GLPI.”

Sales through Sales Agents or to Sales Agents as Principal

The Sales Agents will offer our shares of common stock, subject to the terms and conditions of the