Overview

* GLPI Q3 revenue missed analyst expectations, Adjusted FFO beat estimates

* Company's diversified tenant base and recent acquisitions drove financial performance

* GLPI acquired Sunland Park Racetrack & Casino, expanding Strategic Gaming relationship

Outlook

* Company estimates full-year 2025 AFFO between $1.115 bln and $1.118 bln

* GLPI commits up to $225 mln for PENN's Aurora project

* Company sees no material changes in economic conditions affecting 2025 results

Result Drivers

* DIVERSIFIED TENANT BASE - GLPI's record Q3 revenue and AFFO were driven by its diversified base of existing tenants and leases, as well as recent acquisitions and financing arrangements

* PENN FUNDING AGREEMENTS - GLPI's funding for PENN Entertainment projects, including Hollywood Casino Joliet, contributed to financial results with a 7.75% cap rate

* TRIBAL GAMING EXPANSION - GLPI's new financing agreement with the Ione Band of Miwok Indians marks a first-of-its-kind REIT funding structure for tribal gaming

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $397.60 $398.13

Revenue mln mln (15

Analysts

)

Q3 Net $248.50

Income mln

Q3 Miss $366.40 $367.92

Adjusted mln mln (12

EBITDA Analysts

)

Q3 Beat $282 mln $0.96

Adjusted (16

FFO Analysts

)

Q3 FFO $315.50

mln

Q3 $337.20

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for Gaming and Leisure Properties Inc ( GLPI ) is $53.50, about 18.4% above its October 29 closing price of $43.65

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)