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Gaming and Leisure Properties, Inc.

Property Developer

Gaming and Leisure Properties, Inc. (“GLP”) is a self-administered and self-managed Pennsylvania real estate investment trust company (“REIT”) that was incorporated on February 13, 2013. GLP’s primary business consists of acquiring, financing, and owning real property to be leased to gaming operators in “triple net” lease arrangements.

GLP’s portfolio currently consists of 43 gaming and related facilities, which are geographically diversified across 15 states. Its tenants include Penn National Gaming, Inc., Casino Queen, Pinnacle Entertainment, Inc. (“Pinnacle”) and Eldorado Resorts, Inc. (“ERI”). GLP also owns and operates Hollywood Casino Baton Rouge and Hollywood Casino Perryville through an indirect wholly-owned subsidiary, GLP Holdings, Inc.

GLP owns substantially all the real estate assets of its tenants and leases those assets back to its tenants for use by their operating subsidiaries pursuant to triple net master leases. In April 2016, it acquired substantially all the real estate assets of Pinnacle for approximately $4.8 billion. On October 1, 2018, GLP successfully completed its acquisition of the real estate assets of five casino properties from Tropicana Entertainment, Inc. (“Tropicana”) for $964 million. Additionally, the Company provided a $246 million mortgage loan to ERI to finance its acquisition of the real estate assets of Lumiere Place in St. Louis, Missouri from Tropicana.

GLP expects to grow its portfolio by pursuing opportunities to acquire additional gaming facilities to lease to gaming operators. GLP also anticipates diversifying its portfolio over time by acquiring properties outside the gaming industry. The expertise of GLP’s management team will allow it to secure additional avenues for growth beyond the gaming industry and allow it to pursue other acquisitions that may prove complementary to GLP's gaming facilities.

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Gaming and Leisure Properties, Inc. Overview

Address: 845 Berkshire Boulevard
# of Projects: 1
Area of Work: Plainville
Work in Sectors: Retail, Parking, and Restaurant
Established: 2013

Basic Organization Data BASIC Membership Required

Total Square Feet : *******
Dollar Volume : ***************
Current Project Status : *********************
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Oct 18, 2018

Plainridge Park Casino property acquired for $250 million by Gaming and Leisure Properties, Inc.

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