Gaming and Leisure Properties Q1 2024: revenue rises to $376M, acquires Tioga Downs for $175M, updates AFFO guidance

Gaming & Leisure Properties, Inc.

2024-Q1 EPS reported $0.64 revenue$375,964,000

Q1 total revenue $376.0M (+5.8% YoY); net income $179.5M ($0.64 diluted EPS) vs $188.7M ($0.70) YoY.
AFFO $258.6M ($0.92 per share), up 4.0% YoY; FFO $244.4M ($0.87) vs $253.8M ($0.94) YoY.
Acquired Tioga Downs Casino Resort for $175M; initial annual rent $14.5M at 8.3% capitalization rate; 30-year triple-net lease.
Updated 2024 AFFO guidance: $1,042-$1,051M ($3.71-$3.74 per share), versus prior $1,041-$1,050M ($3.70-$3.74).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Gaming & Leisure Properties, Inc. reported the quarter ended March 31, 2024 results: revenue $376.0 million, net income $179.5 million, EPS $0.64 per diluted share. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $376.0 million
Net income: $179.5 million
EPS: $0.64 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

impact of a nearly $29 million year-over-year change in our reserve for credit losses, net. On an operating basis, first quarter total revenue rose 5.8% year over year to $376.0 million and AFFO grew 4.0%. Our first quarter growth reflects GLPI’s stable portfolio of gaming operator tenants combined with our liquidity and capital markets discipline. Collectively,

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Source: SEC EDGAR

accession 0001575965-24-000018

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