Gaming and Leisure Properties Overview and Analysis

Gaming and Leisure Properties is a leading real estate investment trust (REIT) that owns a portfolio of properties, including casinos, hotels, and restaurants, primarily in the United States.

The company's properties are concentrated in key gaming markets, such as Nevada, New Jersey, and Pennsylvania.

Gaming and Leisure Properties has a strong track record of providing stable and growing income to its shareholders.

The company's diversified portfolio of properties helps to minimize risk and maximize returns.

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Gaming and Leisure Properties has a diverse portfolio of properties across the United States. They have a significant presence in the Midwest, with properties such as Ameristar Casino Hotel Kansas City and Ameristar Casino Resort Spa St. Charles in Missouri, as well as Belterra Casino Resort & Spa in Indiana.

Their properties also include Belterra Park in Ohio, which is a popular destination for entertainment and gaming. Additionally, they own Horseshoe St. Louis in Missouri, which is a well-known casino and entertainment complex.

Some of their notable properties include Isle Casino Bettendorf in Iowa, Isle Casino Waterloo in Iowa, and Tropicana Atlantic City in New Jersey. These properties showcase the company's commitment to providing high-quality gaming and entertainment experiences to a wide range of customers.

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Bally's Corporation has a significant presence in the gaming industry, with a diverse portfolio of leased properties across the United States.

Bally's has leased several casinos and hotels, including Bally's Black Hawk in Black Hawk, Colorado, and Bally's Chicago, which is currently under development in Chicago, Illinois.

They also have properties in the Northeast, such as Bally's Dover in Dover, Delaware, and Bally's Tiverton in Tiverton, Rhode Island.

In addition to these properties, Bally's has leased the Tropicana Las Vegas site in Paradise, Nevada, and operates the Hard Rock Hotel & Casino Biloxi in Biloxi, Mississippi.

Some of their other notable leased properties include the Belle of Baton Rouge in Baton Rouge, Louisiana, and the Casino Queen Marquette in Marquette, Iowa.

Here are some of the key properties leased to Bally's Corporation:

Mergers have played a significant role in shaping the company's properties portfolio.

In July 2024, Bally's Corp acquired Casino Properties Portfolio, a deal that has been completed.

This acquisition was announced on July 12, 2024, and the company's stock price reflected the news, increasing by 7.16%. The total transaction value of this deal was $395 million.

Another notable merger was the acquisition of Casino Resorts by Strategic Gaming Management LLC, which was completed on May 16, 2024. This deal was also announced on the same day, and the company's stock price jumped by 9.24%. The transaction value of this deal was $105 million.

Here's a summary of the mergers:

Gaming and Leisure Properties is the nation's first real estate investment trust focused on acquiring real property assets leased to gaming operators.

We have a portfolio of 65 premier gaming assets, which are geographically diversified across 20 states.

Our tenants include well-known gaming operators like PENN Entertainment, Caesars Entertainment, and Boyd Gaming Corporation.

We've leveraged a wealth of industry knowledge to deliver consistent year-over-year total shareholder return.

Our management team has pioneered the gaming REIT space, and their expertise will allow us to secure additional avenues for growth.

We're expecting to grow our portfolio by acquiring more gaming facilities to lease to gaming operators through triple-net lease arrangements.

We also anticipate diversifying our portfolio over time by acquiring properties outside the gaming industry.

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Gaming and Leisure Properties, Inc. is a self-administered and self-managed real estate investment trust. This means they handle all aspects of their business, from acquiring property to managing their portfolio.

Their business model consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. This approach allows them to focus on property ownership and leasing, while their tenants handle the day-to-day operations.

Gaming and Leisure Properties has a significant portfolio, consisting of interests in approximately 67 gaming and related facilities across 20 states. This diverse portfolio helps to spread risk and increase revenue.

Their property portfolio includes a range of gaming and related facilities, such as Hollywood Casino Lawrenceburg and Ameristar Black Hawk. Each of these facilities has its own unique characteristics and attractions.

Here are some key facts about Gaming and Leisure Properties:

Their headquarters is located at 845 Berkshire Blvd, Suite 200, Wyomissing, PA 19610, and they can be reached by phone at +1 (610) 401-2900.

Gaming and Leisure Properties has a market capitalization of $13.78 billion, which is a significant indicator of its size and value.

The company's enterprise value is $20.88 billion, a 13.1x multiple of its sales in 2025. This valuation metric suggests that the company's stock is trading at a relatively high multiple of its sales.

The company's free-float, which is the portion of its outstanding shares that are available for trading, is 95.74%. This means that a significant portion of the company's shares are held by institutional investors and other large shareholders.

Here is a summary of the company's valuation metrics:

Gaming and Leisure Properties, Inc. has a market capitalization of $13.78B, which is a significant increase from its previous value of $10.95B.

Its enterprise value is $20.88B, and the company's free-float is an impressive 95.74%.

The company's P/E ratio for 2025 is 16.9x, while its EV/Sales ratio for the same year is 13.1x.

Here's a breakdown of the company's valuation metrics:

The company's yield for 2025 is 6.18%, which is expected to increase to 6.36% in 2026.

Gaming and Leisure Properties, Inc. has received various updates from analysts in recent months. RBC recently trimmed its price target to $56 from $57, while keeping its Outperform rating.

Some analysts have adjusted their price targets downward, while others have maintained their Buy ratings. Deutsche Bank adjusted its price target to $57 from $58, maintaining its Buy rating.

Morgan Stanley took a more cautious approach, downgrading Gaming and Leisure Properties to Equal Weight from Overweight, with a price target of $53. This suggests that some analysts are becoming more conservative in their outlook.

Wedbush also lowered its price target to $55 from $58, but kept its Outperform rating, indicating that it still sees significant potential for growth. Barclays initiated coverage with an Equalweight rating and a price target of $54.53.

Here's a summary of the analysts' recommendations:

Gaming and Leisure Properties has made a significant deal with a major gaming company. The company has agreed to acquire 38 gaming properties from the gaming company for $1.85 billion.

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The acquisition is a strategic move to expand Gaming and Leisure Properties' portfolio of gaming-related properties. This deal will provide the company with a significant increase in revenue.

Gaming and Leisure Properties is a real estate investment trust that specializes in owning and leasing properties to gaming companies. The company has a strong track record of providing reliable and efficient services to its tenants.

The deal is expected to be completed by the end of the year, pending regulatory approval. This will give Gaming and Leisure Properties a significant boost in its revenue and growth prospects.

Gaming and Leisure Properties has a robust management and governance structure in place to ensure the company remains on track to meet its goals.

The company's Board of Directors is composed of experienced industry professionals, including Chairman of the Board, Peter M. Carlino, who has been instrumental in shaping the company's strategic direction.

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Gaming and Leisure Properties has a strong focus on corporate governance, with a clear set of policies and procedures in place to ensure transparency and accountability.

The company's executive team is led by President and CEO, Peter M. Carlino, who has a proven track record of success in the gaming and leisure industry.

Gaming and Leisure Properties has a market capitalization of over $10 billion, making it one of the largest real estate investment trusts (REITs) in the industry.

The company's portfolio of properties includes over 200 gaming and leisure assets, generating significant revenue and cash flow for shareholders.

Gaming and Leisure Properties has a strong commitment to environmental sustainability, with a goal of reducing its carbon footprint by 20% by 2025.

The company's Board of Directors has a robust risk management framework in place to identify and mitigate potential risks to the business.

Gaming and Leisure Properties has a strong focus on community engagement, with a number of initiatives in place to support local charities and community organizations.

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