Gaming And Leisure Properties, Inc. · NASDAQ:GLPI

Gaming And Leisure Properties — Q1 2026 Earnings Presentation

14 slides from Gaming And Leisure Properties's earnings presentation, 2026

  1. Slide 1: Supplemental Financial Information 1Q 2026

    Supplemental Financial Information 1Q 2026

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended Statements preceded by, followed by or that otherwise include the words "

  3. Slide 3: Gaming & Leisure Properties, Inc. Overview

    Gaming & Leisure Properties, Inc. Overview GLPI is a REIT that owns a Geographically Diversified Portfolio of High-Quality Regional Gaming Assets Fast Facts as of March 31, 2026 Snapshot at March 31, 2026 • Total Enterprise Value: ~$20.8 Billion 71 21 • GLPI is the most geographically diversified ow

  4. Slide 4: Summary of Recent Developments & Upcoming Events

    Summary of Recent Developments & Upcoming Events • Declared and paid a dividend of $0.78 per share, which represents an annualized dividend yield of 7.03%, based on our quarter-end stock price of $44.37. • Following the receipt of a declination letter from the NIGC, GLPI funded its $45.3 million Nex

  5. Slide 5: GLPI 2026 Guidance

    GLPI 2026 Guidance 2026 Current Change from $ in millions, except per share data Actuals 2026 Prior Guidance Guidance Prior (Midpoint) 2024 2025 Low End High End Low End High End AFFO $1,061 $1,120 $1,207 $1,222 $1,212 $1,223 $3.0 AFFO per Share $3.77 $3.88 $4.06 $4.11 $4.08 $4.12 $0.015 • The guida

  6. Slide 6: Historical Quarterly Financial Highlights

    Historical Quarterly Financial Highlights $ in millions except per share data 1Q25 2Q25 3Q25 4Q25 1Q26 Diluted Earnings per Share Attributable to Common Shareholders $0.60 $0.54 $0.85 $0.94 $0.82 Funds from Operations $234.8 $224.9 $315.5 $339.0 $304.0 Funds from Operations per Diluted Common Share

  7. Slide 7: Strong Tenant Coverage

    Strong Tenant Coverage Rent coverage ratios are not reported for ground leases and leases with development projects nor on leases that have been in effect for less than twelve months. (1) Ratio was calculated on a proforma basis for the February 2026 acquisition of the real estate assets of Bally's

  8. Slide 8: Financing Pipeline at March 31, 2026

    Financing Pipeline at March 31, 2026 $ in millions Funded as of Project Commitment quarter end Left to Fund Cap Rate Hollywood Aurora Relocation $225.0 $— $225.0 7.75% Ameristar Council Bluffs (1) $150.0 $— $150.0 7.10% Sale Lease Back Total $375.0 $— $375.0 7.49% Tropicana Las Vegas Site $175.0 $48

  9. Slide 9: GLPI Recent Transaction History

    GLPI Recent Transaction History $ in millions Date of Transaction Transaction Transaction Transaction Announcement Size Income Cap Rate Multiple Completed Tioga Downs February-24 $175.0 $14.5 8.29% 12.1 x Strategic Management Group May-24 $110.0 $9.2 8.36% 12.0 x Belle of Baton Rouge Funding June-24

  10. Slide 10: Balance Sheet Strength: Historical Leverage Snapshot

    Balance Sheet Strength: Historical Leverage Snapshot Debt Maturity Schedule GLPI Issue Rating by Agency Standard & Fitch Moody’s Poor's BBB- Ba1 BBB- Financial Leverage (Net Debt / Adjusted EBITDA) 1Q26 Balance Sheet Snapshot ($ in MM) As of March 31, 2026 Long Term Debt 8,159.9 Less Unamortized deb

  11. Slide 11: Definitions of Non-GAAP Financial Measures

    Definitions of Non-GAAP Financial Measures FFO, FFO per diluted common share and OP/LTIP units, AFFO, AFFO per diluted common share and OP/LTIP units, Adjusted EBITDA and Cash Net Operating Income ("Cash NOI"), which are detailed in the reconciliation tables that accompany this release, are used by

  12. Slide 12: 1Q 2026 AFFO Bridge

    1Q 2026 AFFO Bridge $ in thousands 1Q25 1Q26 Y/Y % change Net Income $ 170,354 $ 239,402 40.5 % (Gains) or losses from dispositions of property (125) — Real Estate Depreciation 64,529 64,552 Funds from Operations (FFO) $ 234,758 $ 303,954 29.5 % Straight-Line Rent and Deferred Rent Adjustments (8,41

  13. Slide 13: Historical Non-GAAP Reconciliations

    Historical Non-GAAP Reconciliations $ in thousands 2024 1Q25 2Q25 3Q25 4Q25 2025 1Q26 Net Income $ 807,648 $ 170,354 $ 156,165 $ 248,481 $ 275,356 $ 850,356 $ 239,402 (Gains) or losses from dispositions of property (3,790) (125) — — — (125) — Real Estate Depreciation 258,219 64,529 68,749 66,985 63,

  14. Slide 14: Gaming & Leisure Properties

    GAMING@LEISURE PROPERTIES, 1inc

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