Gaming and Leisure slightly misses Q4 revenue expectations

Overview

• Gaming property REIT's Q4 revenue slightly missed analyst expectations

• Adjusted FFO for Q4 beat analyst expectations

• Company completed acquisition of Bally's Twin River Lincoln Casino Resort for $700 mln

Outlook

• GLPI estimates 2026 AFFO between $1.207 bln and $1.222 bln

• Company plans $575 mln to $650 mln funding for development projects in 2026

• GLPI aims for long-term growth with strong gaming operator relationships

Result Drivers

• ACQUISITIONS AND FINANCING - CEO Peter Carlino attributed record Q4 results to recent acquisitions and financing arrangements, supporting growth from regional gaming operators and tribal relationships

• CAPITAL DEPLOYMENT - GLPI executed three new transactions totaling $876 mln, contributing to revenue and AFFO growth despite a challenging transaction environment

• STRONG LEASE COVERAGE - GLPI emphasized strong lease coverage across its largest tenants, supporting stable revenue and AFFO growth

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 7 "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 is $53.00, about 13.5% above its February 18 closing price of $46.71

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX6dwSx4

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