Business
Gaming and Leisure Properties, Inc. Reports Fourth Quarter 2021 Results
Establishes 2021 First Quarter Dividend of $0.69 per Common Share WYOMISSING, Pa., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc.
About this update from Gaming And Leisure Properties, Inc.
[{"type":"text","content":"Establishes 2021 First Quarter Dividend of $0.69 per Common Share\nWYOMISSING, Pa., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced financial results for the fourth quarter and year-ended December 31, 2021. Financial Highlights Three Months Ended December 31,Year Ended December 31,(in millions, except per share data) 2021 Actual 2020 Actual 2021 Actual 2020 ActualTotal Revenue $298.3 $300.2 $1,216.4 $1,153.2 Income From Operations $204.4 $241.5 $841.8 $809.3 Net income $119.6 $169.3 $534.1 $505.7 FFO (1) (4) $178.0 $184.1 $765.7 $684.4 AFFO (2) (4) $205.3 $193.4 $812.0 $757.4 Adjusted EBITDA (3) (4) $277.2 $264.6 $1,096.6 $1,035.5 Net income, per diluted common share and OP units (4) $0.50 $0.74 $2.26 $2.30 FFO, per diluted common share and OP units (4) $0.74 $0.81 $3.24 $3.11 AFFO, per diluted common share and OP units (4) $0.85 $0.85 $3.44 $3.45 ______________________________ (1) FFO is net income, excluding (gains) or losses from sales of property and real estate depreciation as defined by NAREIT. (2) AFFO is FFO, excluding stock based compensation expense, the amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, amortization of land rights, straight-line rent adjustments, gains on sales of operations, net of tax, losses on debt extinguishment, and provision for credit losses, net, reduced by capital maintenance expenditures. (3) Adjusted EBITDA is net income, excluding interest, income tax expense, depreciation, (gains) or losses from sales of property and gains on sales of operations net of tax, stock based compensation expense, straight-line rent adjustments, amortization of land rights, losses on debt extinguishment, and provision for credit losses, net. (4) Metrics are presented assuming full conversion of limited partnership units to common shares and therefore before the income statement impact of non-controlling interests. Peter Carlino, Chairman and Chief Executive Officer of GLPI, commented, “The fourth quarter of 2021 was an active and productive period for GLPI marked by strong operating results and increased dividends as we continue to leverage our deep knowledge of the gaming sector to drive long-term growth while actively managing our tenant relationships, financing activities and ca...