Business
Gaming and Leisure Properties, Inc. Reports Record Fourth Quarter Results, Establishes 2023 Guidance and Announces 2023 First Quarter Dividend of $0.72 per Share and Special Dividend of $0.25 per Share
WYOMISSING, Pa., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced record results
About this update from Gaming And Leisure Properties, Inc.
[{"type":"text","content":"WYOMISSING, Pa., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced record results for the fourth quarter and year-ended December 31, 2022. Financial Highlights Three Months Ended December 31,Year Ended December 31, (in millions, except per share data) 2022 Actual 2021 Actual2022 Actual 2021 Actual Total Revenue $336.4 $298.3$1,311.7 $1,216.4 Income From Operations $275.5 $204.4$1,029.9 $841.8 Net income $199.6 $119.6$703.3 $534.1 FFO(1) (4) $258.8 $178.0$887.3 $765.7 AFFO(2) (4) $239.1 $205.3$924.4 $812.0 Adjusted EBITDA(3) (4) $312.0 $277.2$1,221.7 $1,096.6 Net income, per diluted common share and OP units(4) $0.75 $0.50$2.70 $2.26 FFO, per diluted common share and OP units(4) $0.97 $0.74$3.40 $3.24 AFFO, per diluted common share and OP units(4) $0.89 $0.85$3.55 $3.44 (1) Funds from operations (\"FFO\") is net income, excluding (gains) or losses from dispositions of property, net of tax and real estate depreciation as defined by NAREIT. (2) Adjusted Funds from Operations (\"AFFO\") is FFO, excluding, as applicable to the particular period, stock based compensation expense; the amortization of debt issuance costs, bond premiums and original issuance discounts; other depreciation; amortization of land rights; accretion on investment in leases, financing receivables; non-cash adjustments to financing lease liabilities; impairment charges; straight-line rent adjustments; losses or (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, as applicable to the particular period, interest, net; income tax expense; real estate depreciation; other depreciation; (gains) or losses from dispositions of property, net of tax; (gains) or losses on sales of operations, net of tax; stock based compensation expense; straight-line rent adjustments; amortization of land rights; accretion on investment in leases, financing receivables; non-cash adjustments to financing lease liabilities; impairment charges; 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-cont...