Gaming and Leisure Properties (NASDAQ:GLPI) — the owner of the property assets of the Tropicana Las Vegas — is reportedly shopping the iconic Strip venue and … GLPI acquires, finances, operates and owns gaming and leisure properties. It has a bevy of casinos, mostly east of the Mississippi River. GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in “triple net” lease arrangements.Gaming and Leisure Properties, Inc. ("GLPI") is a publicly-traded company and the first gaming-focused real estate investment trust (“REIT”).
It was formed in November 2013 as a corporate spin-off from Penn National Gaming. GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in “triple net” lease arrangements.Gaming and Leisure Properties, Inc. ("GLPI") is a publicly-traded company and the first gaming-focused real estate investment trust (“REIT”). We have defined AFFO as FFO excluding stock based compensation expense, the amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, the amortization of land rights, straight-line rent adjustments, direct financing lease adjustments, losses on debt extinguishment, retirement costs and goodwill and loan impairment charges, reduced by capital maintenance expenditures.
WYOMISSING, Pa., Aug. 07, 2019 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”), North America's first gaming-focused real estate … GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in “triple net” lease arrangements.Gaming and Leisure Properties, Inc. ("GLPI") is a publicly-traded company and the first gaming-focused real estate investment trust (“REIT”). The GLPI team remains deeply focused on delivering results, prudently managing the balance sheet, and positioning the Company to extend its long track record of value creation for shareholders.”The second quarter operating results include the acceleration of depreciation and land rights amortization of $16.6 million due to the previously announced closure of the Resorts Casino Tunica property by our tenant, which does not alter the amount of rent due from the tenant under its master lease.
As of June 30, 2019, GLPI's portfolio consisted of interests in 46 gaming and related facilities, including Hollywood Casino Baton Rouge and Hollywood Casino Perryville, which are referred to as the "TRS Properties", the real property associated with 33 gaming and related facilities operated by PENN, the real property associated with 6 gaming and related facilities operated by ERI (including one mortgaged facility), the real property associated with 4 gaming and related facilities operated by BYD (including one mortgaged facility) and the real property associated with the Casino Queen in East St. Louis, Illinois. Phumelela Gaming and Leisure Ltd, which owns the majority of the racecourses in South Africa, is facing bankruptcy, Sporting Post reported on Monday. Cash NOI is rental and other property income less cash property level expenses. Gaming and Leisure Properties, Inc. ("GLPI") is a publicly-traded company and the first gaming-focused real estate investment trust (“REIT”).
Reading, Pennsylvania Area. Finally, we have defined Cash NOI as Adjusted EBITDA for the REIT excluding real estate general and administrative expenses and including stock based compensation expense and (gains) or losses from sales of property.FFO, AFFO, Adjusted EBITDA and Cash NOI are not recognized terms under GAAP.
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