Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 33

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 33
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 the exercise of warrants, options or other rights 
 disclosed in the Company’s public filings;                                                                   |

| • |     | common stock we issue in connection with acquisitions; and |

| • |     | common stock issuable by us upon settlement of any forward sales agreement. |

Other Relationships Some or all of the Sales Agents, Forward Sellers and Forward Purchasers, and/or their respective affiliates or agents (as applicable), have engaged in, and may in the future engage in, investment banking and other S-17

commercial dealings and/or other financial services, including the provision of credit facilities, in the ordinary course of business with us or our affiliates. They have received, or may in the
future receive, customary fees and commissions for these transactions. In addition, in the ordinary course of their business activities, each of the Sales Agents, Forward Sellers and Forward Purchasers, and/or their respective affiliates or agents
(as applicable) may make or hold a broad array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the accounts of their
customers. Such investments and securities activities may involve securities and/or instruments of ours or of our affiliates. The Sales Agents and the Forward Purchasers and their respective affiliates may also make investment recommendations and/or
publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.

As of the date of this prospectus supplement, certain affiliates of the Sales Agents, Forward Sellers and Forward Purchasers are lenders or agents under
our senior unsecured credit facilities and/or term loan. To the extent that we use the net proceeds of this offering to repay outstanding indebtedness under our senior unsecured credit facilities and/or term loan, these affiliates will receive their
pro rata portion of such payments.

In addition, if we enter into a forward sale agreement with a Forward Purchaser, such Forward Purchaser will use
commercially reasonable efforts, consistent with its normal trading and sales practices for similar transactions, to borrow from third parties and sell, through the relevant Forward Seller, our shares of common stock to hedge such Forward
Purchaser’s exposure under such forward sale agreement. All of the net proceeds from the sale of any such borrowed shares of common stock will be paid to the applicable Forward Purchaser (or one or more of its affiliates). As a result, a
Forward Seller, its agent or one of