Gaming & Leisure Properties (GLPI) has reported record results for both the quarter and full year ending December 31, 2024.
Total revenue for the quarter (Q4 2024) reached US$389.6m, up from $369m year on year, with a net income of $223.6m, up from $217.3m. Adjusted EBITDA for the quarter was $354m, up from $331.4m year on year.
For the full year (FY24), total revenue hit $1.53bn, up from $1.44bn year on year, leading to a net income of $807.6m, up from $755.4m year on year.
“We generated record fourth quarter and full year 2024 results reflecting growth across all key financial metrics for both the quarter and full year periods,” said Peter Carlino, chairman and CEO of GLPI.
“Our record fourth quarter and full year financial results reflect GLPI’s recent acquisitions and financing arrangements, contractual escalators and growing base of leading regional gaming operator tenants, which together are expected to drive further growth in 2025 and beyond.
“Importantly, notwithstanding the still difficult transaction and financing environment, in 2024 GLPI successfully partnered with both new and existing tenants for four sale-leaseback transactions, as well as several financing commitments.
“During the fourth quarter, GLPI completed the sale-leaseback transactions for Bally’s properties in Kansas City and Shreveport, which will be accretive to our 2025 financial results. This transaction was structured at an attractive cap rate, expands our partnership with Bally’s and grew our tenant portfolio which now includes 68 high-quality regional gaming assets.”
