Company: GLPI
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001193125-25-181872
Chunk: 18

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-15
Form: 424B5
Chunk 18
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 “Where You Can Find More Information” in the accompanying prospectus. The risks and uncertainties we discuss in this prospectus supplement, the accompanying prospectus and in the documents incorporated by reference herein and therein are those that we currently believe may materially affect our company. Additional risks not presently known or that are currently deemed immaterial could also materially and adversely affect our financial condition, results of operations, business and prospects. You may lose all or a part of your investment. We have a material amount of indebtedness that involves debt service obligations, exposes us to interest rate fluctuations and exposes us to the risk of default under our debt obligations. We have a material amount of indebtedness and debt service requirements. As of June 30, 2025, as adjusted to give effect to the issuance of the notes offered hereby and the application of the proceeds from this offering as described under “Use of Proceeds”, we would have had approximately $7.2 billion of long-term indebtedness, net of unamortized issuance costs, bond premiums and original issuance discounts, including $1.3 billion representing the notes offered hereby and $5.050 billion of existing senior unsecured notes, $600.0 million of indebtedness outstanding under the Term Loan Credit Facility (which is fully drawn), $332.5 million of indebtedness outstanding under the Revolving Credit Agreement, and would have had approximately $1,757.2 million of availability under the Revolving Credit Facility (including $0.4 million of contingent obligations under letters of credit). Our material indebtedness could have important consequences to you, including the following:

| • |     | it may limit our ability to obtain additional debt or equity financing for working capital, capital expenditures, 
 acquisitions, debt service requirements and general corporate or other purposes;                                  |

| • |     | a material portion of our cash flows will be dedicated to the payment of principal and interest on our                                         
 indebtedness, including indebtedness we may incur in the future, and will not be available for other purposes, including to make acquisitions; |

| • |     | it could limit our flexibility in planning for, or reacting to, changes in our business and the industry in which            
 we operate and place us at a competitive disadvantage compared to our competitors that have less debt or are less leveraged; |

| • |     | it could make us more vulnerable to downturns in general economic or industry conditions or in our business, or 
 prevent us from carrying out activities that are important to our growth;                                       |

| •