GLPI Q2 AFFO $0.91/sh, rev $326.5M; announces $1.0B Bally's RI acquisition; FY22 AFFO guidance $3.50-$3.54

Gaming & Leisure Properties, Inc.

2022-Q2 EPS reported $1.09 revenue$641,479,000

Q2 2022 revenue $326.5M (up 2.7% YoY), net income $155.8M ($0.61 diluted EPS), AFFO $231.6M ($0.91 per share).
Agreed to acquire Bally's Twin River Lincoln and Tiverton for $1.0B; annual rent $76.3M added to Bally's Master Lease.
Alternative structure if Lincoln consent delayed: acquire Hard Rock Biloxi and Tiverton for $635M with $48.5M annual rent.
FY2022 AFFO guidance $908M-$920M ($3.50-$3.54 per diluted share), including Tropicana Las Vegas close in H2 2022.
Q2 dividend raised to $0.705/share (up from $0.67) paid June 24; completed $150M Bally's Black Hawk/Quad Cities acquisition.

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