GLPI Q1 revenue up 4.5% to $315M; completes Cordish, Bally's acquisitions

Gaming & Leisure Properties, Inc.

2022-Q1 EPS reported $0.48 revenue$314,966,000

Total revenue $315.0M, up 4.5% YoY; net income $121.7M ($0.48 diluted EPS) vs $127.2M ($0.54).
AFFO per share $0.86 vs $0.84; Adjusted EBITDA $293.3M vs $266.6M.
Acquired Live! Philadelphia and Live! Pittsburgh from Cordish for $689M; 39-year master lease at $50M initial annual rent.
Post-quarter: acquired Bally's Black Hawk and Quad Cities assets for $150M; annual rent increased $12M.
Bally's to acquire Tropicana Las Vegas non-land assets for $150M; GLPI retains land under 50-year ground lease.

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