Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 85

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 85
---
4.0 million and $3.6 million for the three and six months ended June 30, 2025 as compared to the corresponding period in the prior year due to our recent acquisition activity.  

Provision for credit losses

The Company recorded a provision for credit losses of $53.7 million and $93.0 million  for the three and six months ended June 30, 2025 compared to a benefit of $3.8 million and a provision of $19.5 million for the corresponding periods in the prior year.  As described in Note 3, the Company follows ASC 326 “Credit Losses”, which requires that the Company measure and record current expected credit losses, the scope of which includes our Investments in leases, financing receivables, net as well as the Company's real estate loans and loan commitments.   

The increased provisions during the three and six months ended June 30, 2025 were primarily driven by a sequential deterioration in the third-party forward-looking economic outlook used in the Company's CECL reserve calculations. The macroeconomic forecast as of March 31, 2025, was more pessimistic than the forecast used as of December 31, 2024, resulting in a provision during the three months ended March 31, 2025. The outlook further deteriorated as of June 30, 2025, leading to an additional provision during the three months ended June 30, 2025.  Future changes in economic projections, probability factors, 

51

changes in the estimated value of our real estate property and earnings assumptions at the underlying facilities may result in non-cash provisions or recoveries in future periods that could materially impact our results of operations.      

Other income (expenses)

Other income (expenses) for the three and six months ended June 30, 2025 and 2024 were as follows (in thousands):

  Three Months Ended June 30, Percentage20252024VarianceVarianceInterest expense$(89,934)$(86,670)$(3,264)3.8 %Interest income4,580 8,065 (3,485)(43.2)%Total other expenses$(85,354)$(78,605)$(6,749)8.6 %

Six Months Ended June 30,Percentage20252024VarianceVarianceInterest expense(187,206)(173,345)$(13,861)8.0 %Interest income13,936 17,297