WYOMISSING, PA — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) announced record financial results for the first quarter of 2025, reflecting strong operational and portfolio performance. Total revenue grew 5.1% to $395.2 million, while Adjusted Funds from Operations (AFFO) increased 5.2% to $272.0 million. Adjusted EBITDA rose 8% year-over-year, driven by acquisitions, lease expansions, and financing initiatives.
“Our record first quarter revenue, AFFO and Adjusted EBITDA highlight our long-term focus on aligning with the industry’s top regional gaming operators, expanding and diversifying our portfolio of gaming assets, and supporting tenants with creative, comprehensive financing solutions,” said Peter Carlino, Chairman and CEO.
Key Developments and Portfolio Expansion
GLPI continued to expand its footprint and support tenant growth through strategic financing and acquisitions. Highlights include the extension of the Boyd Master Lease and Belterra Park Lease through 2031 and ongoing funding for Bally’s Belle of Baton Rouge landside conversion, which is set for completion in the fourth quarter. The company also backed Bally’s development of a permanent casino and entertainment destination in Chicago, featuring a range of large-scale amenities.
Additionally, GLPI has committed $110 million in financing for Acorn Ridge Casino near Sacramento, California, marking its first investment partnership with a federally recognized tribe. By the end of Q1 2025, $18.4 million of this loan facility had been funded. The company also successfully redeemed an $850 million senior unsecured note with a 5.250% rate, reflecting disciplined capital management.
Updated 2025 Guidance
GLPI raised its full-year AFFO guidance, projecting between $1.109 billion and $1.118 billion, representing $3.84 to $3.87 per diluted share. This revised guidance reflects sustained operational performance and anticipated fundings of $375 million for current development projects.
Portfolio Overview
As of March 31, 2025, GLPI managed a geographically diverse portfolio of 68 gaming properties across 20 states, leased under triple-net arrangements to top operators including PENN, Caesars, Boyd, and Bally’s.
Outlook
GLPI’s consistent growth underscores its ability to strategically expand its portfolio and support tenant operations. “With our opportunistic approach to portfolio expansion, the proven long-term resiliency of our tenants’ revenue streams, and comfortable rent coverage ratios, we expect to continue to deliver strong capital returns and yields for our shareholders,” Carlino stated.
With a focus on creative financing, disciplined capital management, and strategic investments, GLPI is poised to maintain its growth trajectory and deliver shareholder value throughout 2025 and beyond.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.