secwatch.observer — SEC 8-K summary
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Issuer:     Gaming & Leisure Properties, Inc. (GLPI)
CIK:        0001575965
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001575965-22-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575965/000157596522000011/0001575965-22-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575965/000157596522000011/glpi-20220428.htm
  HTML page:      https://secwatch.observer/filing/0001575965-22-000011

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