Company: GLPI
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001575965-25-000008
Chunk: 187

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 187
---
ropicana Las Vegas Lease due to a change in rent terms resulting from funding certain demolition costs at the site for Bally's.  The lease was reassessed from an accounting perspective which resulted in the amended lease being accounted for as a sales type lease whereas previously it had been treated as an operating lease.  The sales type lease was recorded at the estimated fair value of the land at the reassessment date based on a third party valuation report.  This report utilized a combination of comparable land sales for its market based valuation approach as well as rent multiple capitalization rates for its income valuation approach to determine an estimated fair value which resulted in a $3.8 million gain.  There were no other assets or liabilities measured at fair value on a nonrecurring basis during the years ended December 31, 2024 and 2023. 

10.    Long-term Debt Long-term debt, net of current maturities and unamortized debt issuance costs is as follows: December 31,2024December 31,2023 (in thousands)Unsecured $2,090 million revolver due December 2028$332,455 $— Term Loan Credit Facility due September 2027600,000 600,000 $400 million 3.350% senior unsecured notes due September 2024— 400,000 $850 million 5.250% senior unsecured notes due June 2025850,000 850,000 $975 million 5.375% senior unsecured notes due April 2026975,000 975,000 $500 million 5.750% senior unsecured notes due June 2028500,000 500,000 $750 million 5.300% senior unsecured notes due January 2029750,000 750,000 $700 million 4.000% senior unsecured notes due January 2030700,000 700,000 $700 million 4.000% senior unsecured notes due January 2031700,000 700,000 $800 million 3.250% senior unsecured notes due January 2032800,000 800,000 $400 million 6.750% senior unsecured notes due December 2033400,000 400,000 $800 million 5.625% senior unsecured notes due September 2034800,000 — $400 million 6.250% senior