| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 419.99 | 6.3% |
| Total Income | 419.99 | 6.3% |
| Expenditure | 86.64 | 36.5% |
| PBT | 239.96 | 40.4% |
| Net Profit | 231.83 | 40.4% |
| OPM | 79.37% | 13.88pp |
| NPM | 55.20% | 13.41pp |
| EPS | 0.82 | 36.7% |
GLPI Reports Record Q1 2026 Results, Increases 2026 Guidance
25 Apr 2026 · 25 Apr, 1:46 am
Summary
Gaming and Leisure Properties, Inc. announced record first-quarter results, with total revenue increasing by 6.3% year-over-year to $420.0 million. AFFO also saw a significant increase of 9.2%, reaching $297.1 million. The company completed two major acquisitions totaling $727 million, including Bally’s Lincoln real estate and land related to The Cordish Companies Live! Casino & Hotel Virginia. Reflecting this positive momentum, GLPI is raising its AFFO per share guidance for 2026 to a range of $4.08 to $4.12.
Key Highlights
- 1
Gaming and Leisure Properties reported a record first quarter, demonstrating consistent growth and momentum.
- 2
Total revenue for the first quarter rose 6.3% year-over-year to $420.0 million.
- 3
Adjusted Funds From Operations (AFFO) increased by 9.2% to $297.1 million in the first quarter.
- 4
The company completed two accretive transactions for $727 million, acquiring Bally’s Lincoln real estate assets and the land associated with The Cordish Companies Live! Casino & Hotel Virginia.
- 5
Financial leverage stood at 5.0x as of March 31, at the low end of the target range.
- 6
AFFO per share guidance for 2026 is raised to a range of $4.08 to $4.12.
Management Comments
Peter Carlino
GLPI’s consistent growth and momentum is evident in our record first quarter results, as we continue to prudently expand our portfolio and explore avenues for future growth. On an operating basis, first quarter total revenue rose 6.3% year over year to $420.0 million, while AFFO increased 9.2% to $297.1 million. Long term tenant stability and lease coverage remain the foundation of our underwriting criteria, with the vast majority of our leases' rent coverage in excess of 1.8x, despite a challenging environment for our tenants for much of 2025. Reflecting our momentum, most notably on the development front, we are raising our AFFO per share guidance for 2026 to a range of $4.08 to $4.12.”
Informational and educational content only. Not investment advice.