Company: GLPI
Filing Date: 2025-05-02
Form Type: 424B5
Source: 0001193125-25-111614
Chunk: 122

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-05-02
Form: 424B5
Chunk 122
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 or they transact business or reside. The U.S. state and local and non-U.S. tax treatment of us, of holders
of our stock or holders of debt securities issued by the Operating Partnership and Capital Corp. may not conform to the U.S. federal income tax considerations discussed above. Itemized deductions for individuals for U.S. state and local income,
property and sales taxes in excess of a combined limit of $10,000 per year are disallowed for U.S. federal income tax purposes, for taxable years beginning before January 1, 2026. Prospective investors should consult their own tax advisors
regarding the effect of U.S. state and local and non-U.S. tax laws on an investment in our common stock or preferred stock or debt securities issued by the Operating Partnership and Capital Corp.

YOU SHOULD CONSULT YOUR TAX ADVISOR AS TO THE PARTICULAR TAX CONSEQUENCES APPLICABLE TO YOU WITH RESPECT TO THE PURCHASE, OWNERSHIP AND DISPOSITION OF OUR COMMON STOCK, OUR PREFERRED STOCK AND/OR DEBT SECURITIES ISSUED BY THE OPERATING PARTNERSHIP AND CAPITAL CORP., INCLUDING ANY U.S. STATE AND LOCAL TAX (INCLUDING TRANSFER TAX), AND NON-U.S.TAX CONSEQUENCES.

54

SELLING SECURITY HOLDERS

Information about selling security holders, if applicable, will be set forth in a prospectus supplement, in a post-effective amendment or in
filings we make with the SEC, which are incorporated by reference into this prospectus.

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PLAN OF DISTRIBUTION Sales by Us We may sell the securities offered by this prospectus from time to time in one or more transactions in any of the following ways:

| • |     | directly to investors, including through a specific bidding, auction or other process; |

| • |     | to investors through agents; |

| • |     | directly to agents; |

| • |     | to or through brokers or dealers; |

| • |     | to the public through underwriting syndicates led by one or more managing underwriters; |

| • |     | to one or more underwriters acting alone for resale to investors or to the public; and |

| • |     | through a combination of any such methods of sale. |

If we sell securities to a dealer acting as principal, the dealer may resell such securities at varying prices to be determined by such dealer in its discretion at the time of resale without consulting with us and such resale prices may not be disclosed in the