Gaming and Leisure (GLPI) AI Stock Analysis

• Market Cap: $13.07B
• Dividend Yield: 6.81%
• Average Volume (3M): 2.06M
• Price to Earnings (P/E): 17.7
• Beta (1Y): 0.30
• Revenue Growth: 5.38%
• EPS Growth: -9.82%
• Country: US
• Employees: 19
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Specialty
• EPS (TTM): 0.54
• Shares Outstanding: 283,008,240
• 10 Day Avg. Volume: 1,925,986
• 30 Day Avg. Volume: 2,060,793
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.52
• Enterprise Value/Revenue: 12.74
• Enterprise Value/Gross Profit: 13.76
• Enterprise Value/Ebitda: 14.56
• 1Y Price Target: $51.19
• Price Target Upside: 11.50% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 13

• Rating: 74 Outperform
• Price Target: $53.00 ▲(15.44% Upside)

Gaming and Leisure Properties, Inc. (GLPI) demonstrates strong financial performance and a solid dividend yield, making it attractive for income investors. However, technical indicators are mixed, and uncertainties from the earnings call, such as increased expenses and credit concerns, slightly temper the overall outlook.

Positive Factors

Revenue Growth

GLPI's significant revenue growth, driven by strategic acquisitions and rent escalations, indicates a robust business model that enhances its market position and supports long-term financial stability.

Cash Flow Generation

Strong cash flow generation supports GLPI's operations and growth investments, ensuring the company can sustain its dividend payments and pursue strategic acquisitions.

Strategic Acquisitions

The acquisition of Sunland Park expands GLPI's asset base and strengthens its portfolio, enhancing revenue streams and providing long-term accretive benefits to AFFO per share.

Negative Factors

Rising Operating Expenses

The significant rise in operating expenses, mainly due to non-cash adjustments, could pressure margins and impact profitability if not managed effectively over the long term.

High Debt Levels

While leverage has improved, high debt levels can limit financial flexibility and increase risk, especially in a rising interest rate environment, potentially impacting long-term growth.

Credit Concerns

Credit concerns with key partners like Bally's could pose risks to GLPI's revenue streams and financial health, necessitating careful management of tenant relationships and credit exposure.

Gaming and Leisure Business Overview & Revenue Model

Company Description

Gaming and Leisure Properties, Inc. (GLPI) is a leading real estate investment trust (REIT) focused on acquiring, financing, and owning gaming and leisure properties. The company primarily invests in properties used for gaming, such as casinos, and associated hotel and entertainment facilities. By leasing these properties to gaming operators under long-term, net lease agreements, GLPI generates stable and predictable revenue streams while allowing operators to focus on their core gaming and entertainment activities.

How the Company Makes Money

GLPI generates revenue primarily through rental income from its leased properties. The company enters into long-term lease agreements with casino operators, which typically include fixed rent escalations and additional rent based on the performance of the properties. This structure provides GLPI with a consistent cash flow. Key revenue streams include base rental payments and income from property management services. Additionally, GLPI may benefit from strategic partnerships with gaming operators that enhance property value and operational efficiency. The company's focus on stable, cash-flowing assets in the gaming sector, along with its diversified portfolio, plays a significant role in driving its overall earnings.

Gaming and Leisure Financial Statement Overview

Summary

Gaming and Leisure exhibits strong financial performance with robust revenue growth and profitability margins. The company has improved its leverage position, although it still carries significant debt. Cash flow generation is strong, supporting operations and growth investments.

Income Statement

Gaming and Leisure has demonstrated strong revenue growth, with a TTM revenue growth rate of 91.9%. The company maintains high profitability margins, with a gross profit margin of 92.56% and a net profit margin of 45.91% in the TTM period. EBIT and EBITDA margins are also robust at 69.67% and 87.50%, respectively. However, the net profit margin has slightly decreased from the previous year, indicating some pressure on net income.

Balance Sheet

The company has a relatively high debt-to-equity ratio of 1.58 in the TTM period, which is a decrease from previous years, indicating improved leverage management. Return on equity is solid at 16.62%, reflecting efficient use of equity to generate profits. The equity ratio stands at 36.45%, suggesting a balanced capital structure but with room for improvement in reducing debt levels.

Cash Flow

Operating cash flow and free cash flow have shown consistent growth, with a TTM free cash flow growth rate of 272.1%. The operating cash flow to net income ratio is strong at 2.14, indicating good cash generation relative to net income. The free cash flow to net income ratio is also healthy at 94.03%, suggesting effective conversion of earnings into cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.57B	1.53B	1.44B	1.31B	1.22B	1.15B
Gross Profit	1.45B	1.48B	1.39B	1.26B	1.13B	1.07B
EBITDA	1.37B	1.40B	1.34B	1.22B	1.07B	1.01B
Net Income	718.53M	784.62M	734.28M	684.65M	534.05M	505.71M
Balance Sheet
Total Assets	12.49B	13.33B	11.81B	10.93B	10.69B	9.03B
Cash, Cash Equivalents and Short-Term Investments	604.16M	1.02B	683.98M	239.08M	724.60M	486.45M
Total Debt	7.20B	8.04B	6.88B	6.36B	6.79B	5.91B
Total Liabilities	7.56B	8.69B	7.30B	6.81B	7.30B	6.36B
Stockholders Equity	4.55B	4.27B	4.16B	3.78B	3.19B	2.68B
Cash Flow
Free Cash Flow	1.04B	1.03B	961.93M	896.10M	787.58M	424.47M
Operating Cash Flow	1.11B	1.07B	1.01B	920.13M	803.78M	428.08M
Investing Cash Flow	-500.83M	-1.61B	-650.83M	-354.49M	-1.03B	-9.49M
Financing Cash Flow	-98.18M	311.82M	86.35M	-1.05B	443.07M	63.17M

Gaming and Leisure Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 45.91
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GLPI, the sentiment is Negative. The current price of 45.91 is below the 20-day moving average (MA) of 46.81, below the 50-day MA of 46.45, and below the 200-day MA of 46.39, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 43.00 is Neutral, neither overbought nor oversold. The STOCH value of 41.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GLPI.

Gaming and Leisure Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPR	77 Outperform	$4.20B	28.22	7.56%	6.34%	1.37%	-16.66%
RYN	75 Outperform	$4.10B	11.49	36.96%	11.02%	9.90%	137.73%
GLPI	74 Outperform	$13.07B	17.75	16.52%	6.81%	5.38%	-9.82%
CXW	66 Neutral	$2.04B	19.96	7.11%	―	1.62%	55.45%
OUT	66 Neutral	$3.03B	29.88	14.89%	9.31%	-2.49%	-52.99%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PCH	59 Neutral	$3.30B	80.95	2.07%	4.29%	-1.15%	14.51%

Gaming and Leisure Corporate Events

Gaming and Leisure Issues $1.3 Billion in Senior Notes

On August 13, 2025, Gaming and Leisure Properties, Inc. announced that its operating partnership, GLP Capital, L.P., along with its subsidiary GLP Financing II, Inc., entered into an underwriting agreement to issue $1.3 billion in senior notes. The proceeds will be used to redeem existing notes and for general corporate purposes, potentially impacting the company’s financial structure and operational flexibility.

Gaming and Leisure Restructures Leadership with Key Departure

On July 18, 2025, Gaming and Leisure Properties, Inc. announced the elimination of the Senior Vice President and Chief Investment Officer position, affecting Matthew J. Demchyk. A separation agreement was reached, with Mr. Demchyk’s last day set for August 1, 2025. The agreement includes a cash severance package totaling $6,250,000, distributed over a period extending to August 2026, along with continued medical benefits for up to 24 months. This restructuring move may impact the company’s investment strategies and operational focus, potentially influencing stakeholder perceptions.

Gaming and Leisure Shareholders Approve Incentive Plan Amendments

On June 12, 2025, during its Annual Meeting of Shareholders, Gaming and Leisure Properties, Inc. received approval for amendments to its 2013 Long-Term Incentive Compensation Plan, including an increase in reserved shares and changes to share provisions. Additionally, all director nominees were re-elected, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2025. These approvals and re-elections strengthen the company’s governance framework and support its strategic objectives, potentially impacting shareholder value and operational efficiency.