Company: GLPI
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001575965-25-000008
Chunk: 215

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 215
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, the Company issued  3,017,909  OP Units that were valued at $137.0 million and assumed debt of $422.9 million that was repaid after closing with the offsetting increase to Investment in leases, financing receivables, net. 

  18.    Segment information

The Company's operations consist solely of investments in real estate for which all such real estate properties are similar to one another in that they consist of destination and leisure properties and related offerings, whose tenants offer casino gaming, hotel, convention, dining, entertainment and retail amenities, have similar economic characteristics and are governed by triple-net operating leases.  Accordingly, the Company has one operating and reportable segment and the accounting policies of the segment are the same as those described in the summary of significant accounting policies in Note 2.  The operating results of the Company's real estate investments are reviewed in the aggregate using the Company's consolidated financial statements, by the Company's chief executive officer who is the chief operating decision maker (as such term is defined in ASC 280 - Segment Reporting).  The Company's chief executive officer assesses performance for the segment and decides how to allocate resources based on measures that are most closely aligned with consolidated net income, as well as other measures to evaluate the Company's results.  These measures are utilized to decide whether to pursue additional real estate investments, to monitor results against budgeted targets, and in competitive analysis in certain benchmarking against peer group companies to assess the performance of the segment and in establishing management's compensation for certain performance based equity plans.  The measure of segment assets is reported on the Company's Consolidated Balance Sheet as total assets.  

19. Subsequent Events

On February 12, 2025, Boyd exercised its first 5-year renewal option on both the Boyd Master Lease and the Belterra Park Lease.  As a result, both lease terms now expire on April 30, 2031.  

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SCHEDULE IIIREAL ESTATE ASSETS AND ACCUMULATED DEPRECIATIONDecember 31, 2024 (in thousands)   Initial Cost to CompanyNet Capitalized Costs (Retirements)  Subsequent to AcquisitionGross Amount at which Carried at Close of Period  Life onwhichDepreciationin LatestIncomeStatement isComputed   OriginalDate ofConstruction /Renovation DescriptionLocationEncumbrancesLand and ImprovementsBuildings andImprovementsLand and ImprovementsBuildings andImprovementsTotal (8)Acc