Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 18

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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rolling interests in GLPI's Operating Partnership (8,224,939 units outstanding at June 30, 2025 and December 31, 2024, respectively)378,432 376,962 Total equity 4,933,310 4,645,524 Total liabilities and equity $12,492,068 $13,075,949 

See accompanying notes to the condensed consolidated financial statements.

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Table of Contents

Gaming and Leisure Properties, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

(in thousands, except per share data)

(unaudited)

 Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Revenues    Rental income$339,527 $332,815 $679,779 $663,397 Income from investment in leases, financing receivables47,926 45,974 95,690 90,279 Income from sales-type lease3,762 — 7,522 — Interest income from real estate loans3,661 1,837 7,120 2,914 Total income from real estate394,876 380,626 790,111 756,590 Operating expenses    Land rights and ground lease expense13,942 11,870 27,497 23,688 General and administrative15,907 13,851 34,620 31,737 Gains from dispositions of property— — (125)— Depreciation69,235 65,262 134,247 130,622    Provision (benefit) for credit losses, net53,728 (3,786)92,974 19,508 Total operating expenses152,812 87,197 289,213 205,555 Income from operations242,064 293,429 500,898 551,035 Other income (expenses)    Interest expense(89,934)(86,670)(187,206)(173,345)Interest income4,580 8,065 13,936 17,297 Total other expenses(85,354)(78,605)(173,270)(156,048)Income before income taxes156,710 214,824 327,628 394,987 Income tax expense545 412 1,109 1,049 Net