Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 122

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 June 30, 2025Building base rent $300,590 $600,097 Land base rent49,524 99,047 Percentage rent and other rental revenue18,079 36,188 Interest income on real estate loans3,661 7,120 Total cash income$371,854 $742,452 Straight-line rent adjustments6,433 14,845 Ground rent in revenue9,723 19,052 Accretion on financing receivables6,866 13,762 Total income from real estate$394,876 $790,111 As of June 30, 2025, the future minimum rental income from the Company's rental properties under non-cancelable operating leases, including any reasonably assured renewal periods, was as follows (in thousands):Year ending December 31,Future Rental Payments ReceivableStraight-Line Rent Adjustments (1)Future Base Ground Rents ReceivableFuture Income to be Recognized Related to Operating Leases2025 (remainder of year)$642,022 $21,095 $7,776 $670,893 20261,257,315 47,263 15,619 1,320,197 20271,247,596 46,153 15,154 1,308,903 20281,249,758 39,248 15,036 1,304,042 20291,231,720 33,569 15,036 1,280,325 Thereafter4,857,880 6,662 73,552 4,938,094 Total$10,486,291 $193,990 $142,173 $10,822,454 (1)    Includes a $3.6 million tenant improvement allowance that is being amortized over the life of a tenant lease and excludes deferred income on development projects which are not ready for their intended use.  The table above presents the cash rent the Company expects to receive from its tenants, offset by adjustments to recognize this rent on a straight-line basis over the lease term. The Company also includes the future non-cash revenue it expects to recognize from the fixed portion of tenant paid ground leases in the table above.  See Note 3 for the future contractual cash receipts to be received by the Company under its Investment in leases.  

The Company may periodically loan funds to casino owner-operators for the purchase of real estate. Interest income