GLPI posts record revenue in first quarter
Gaming and Leisure Properties Inc. (GLPI) reported record revenue for the first quarter of its 2022 financial year, while the business also experienced a year-on-year rise in net profit.
The quarter proved to be a busy period for GLPI, having in January finalised its acquisition of Bally’s Tiverton in Rhode Island and the Hard Rock Hotel & Casino Biloxi in Mississippi from Bally’s Corporation for $635.0m.
Also in Q1, GLPI completed the creation of a new master lease with Penn Entertainment, covering seven of the latter’s properties. Penn’s casinos in properties in Aurora and Joliet in Illinois, as well as Columbus and Toledo in Ohio, and Henderson, Nevada were added to the new master lease.