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GLPI 
Gaming & Leisure Properties (GLPI)
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Upturn Advisory Summary
12/11/2025: GLPI (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
24 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $53.72
1 Year Target Price $53.72
| 11 | Strong Buy |
| 4 | Buy |
| 8 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -15.78% | Avg. Invested days 31 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/11/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 11.86B USD | Price to earnings Ratio 15.01 | 1Y Target Price 53.72 |
Price to earnings Ratio 15.01 | 1Y Target Price 53.72 | ||
Volume (30-day avg) 24 | Beta 0.7 | 52 Weeks Range 41.17 - 48.87 | Updated Date 12/11/2025 |
52 Weeks Range 41.17 - 48.87 | Updated Date 12/11/2025 | ||
Dividends yield (FY) 7.45% | Basic EPS (TTM) 2.79 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 49.14% | Operating Margin (TTM) 84.8% |
Management Effectiveness
Return on Assets (TTM) 5.63% | Return on Equity (TTM) 16.67% |
Valuation
Trailing PE 15.01 | Forward PE 11.55 | Enterprise Value 18608917446 | Price to Sales(TTM) 7.52 |
Enterprise Value 18608917446 | Price to Sales(TTM) 7.52 | ||
Enterprise Value to Revenue 11.8 | Enterprise Value to EBITDA 12.87 | Shares Outstanding 283008342 | Shares Floating 270428621 |
Shares Outstanding 283008342 | Shares Floating 270428621 | ||
Percent Insiders 4.17 | Percent Institutions 94.47 |
Upturn AI SWOT
Gaming & Leisure Properties
Company Overview
History and Background
Gaming & Leisure Properties, Inc. (GLPI) was formed in 2013 as a spin-off from Penn National Gaming. It is a real estate investment trust (REIT) focused on the acquisition, ownership, and development of gaming and leisure facilities. GLPI's evolution has been marked by strategic acquisitions and long-term lease agreements with gaming operators.
Core Business Areas
- Real Estate Ownership and Leasing: GLPI owns a diverse portfolio of real estate assets, primarily casino and gaming facilities, and leases them to tenants under long-term, triple-net lease agreements. These agreements transfer most of the property operating expenses to the tenant, providing GLPI with stable rental income.
- Property Development and Redevelopment: GLPI may engage in the development or redevelopment of its owned properties, often in conjunction with its tenants, to enhance property value and attract new gaming operators or expand existing operations.
Leadership and Structure
Gaming & Leisure Properties operates as a REIT, with a Board of Directors overseeing its strategic direction and an executive management team responsible for day-to-day operations. Key leadership roles include the Chief Executive Officer, Chief Financial Officer, and various operational and financial executives.
Top Products and Market Share
Key Offerings
- Gaming and Leisure Property Leases: GLPI's primary offering is the leasing of its extensive portfolio of casino and integrated resort properties to experienced gaming operators. The revenue generated from these leases forms the vast majority of the company's income. Market share in terms of owned gaming real estate is significant, but difficult to quantify precisely due to the specialized nature of the REIT model. Competitors include other gaming-focused REITs and private real estate investment firms.
Market Dynamics
Industry Overview
The gaming and leisure industry is cyclical, influenced by economic conditions, consumer spending, and regulatory changes. The REIT model for gaming properties provides a stable revenue stream for property owners, while gaming operators focus on day-to-day operations. The industry is increasingly seeing consolidation and diversification beyond traditional casino offerings.
Positioning
GLPI is a leading owner of gaming real estate in the United States, benefiting from long-term lease agreements with creditworthy gaming operators. Its diversified portfolio across multiple geographic regions and operators provides a degree of resilience. Its competitive advantage lies in its scale, established relationships with operators, and its focus on the REIT model.
Total Addressable Market (TAM)
The total addressable market for gaming real estate is substantial, encompassing all casino properties and related entertainment venues globally. GLPI is positioned as a major owner of this real estate within the US, with opportunities for growth through acquisitions and strategic development. Its TAM is effectively the universe of potential gaming real estate assets that can be acquired or developed and leased to operators.
Upturn SWOT Analysis
Strengths
- Diversified portfolio of gaming and leisure properties.
- Long-term, triple-net lease agreements provide stable rental income.
- Strong relationships with established gaming operators.
- Experienced management team with a deep understanding of the gaming and real estate sectors.
- REIT structure allows for pass-through of income to shareholders.
Weaknesses
- Dependence on a few key tenants for a significant portion of revenue.
- Vulnerability to economic downturns affecting consumer spending on gaming and leisure.
- Potential for lease expirations or renegotiations to impact revenue.
- Limited diversification into non-gaming related real estate assets.
Opportunities
- Acquisition of new gaming properties or portfolios.
- Expansion into emerging gaming markets.
- Development of new entertainment and leisure facilities.
- Partnerships with gaming operators for property upgrades and new developments.
- Potential for growth through strategic joint ventures.
Threats
- Increased competition from other gaming operators and entertainment venues.
- Changes in gaming regulations or taxation at the state or federal level.
- Deterioration of tenant financial health or bankruptcy.
- Unforeseen economic recessions impacting discretionary spending.
- Shifts in consumer preferences towards online or alternative forms of entertainment.
Competitors and Market Share
Key Competitors
- VICI Properties Inc. (VICI)
- MGM Growth Properties LLC (MGP) - Acquired by VICI Properties in 2022, so VICI is the primary competitor now.
- Other diversified real estate investment trusts with significant gaming or entertainment property holdings.
Competitive Landscape
GLPI competes with other specialized gaming REITs and larger, diversified REITs that may hold gaming assets. Its competitive advantages include its long-standing relationships with operators and its focus on a triple-net lease model, which generates predictable income. However, VICI Properties, a larger peer, possesses a significant market share advantage due to its scale and strategic acquisitions, including MGP.
Major Acquisitions
Blackstone's real estate portfolio (select properties)
- Year: 2023
- Acquisition Price (USD millions): 1100
- Strategic Rationale: To expand its portfolio of gaming and entertainment properties, further diversifying its tenant base and geographic reach.
PENN Entertainment's properties (select)
- Year: 2023
- Acquisition Price (USD millions): 1000
- Strategic Rationale: To extend existing lease agreements and acquire additional prime gaming real estate, strengthening its core business.
Growth Trajectory and Initiatives
Historical Growth: GLPI has achieved steady growth through strategic acquisitions and effective lease management, consistently increasing its property portfolio and rental income. The company has navigated market challenges, including the COVID-19 pandemic, and demonstrated resilience.
Future Projections: Analyst projections generally indicate continued revenue and FFO growth for GLPI, driven by potential new acquisitions, lease escalations, and the recovery and expansion of the gaming and leisure industry. Projections are often in the mid-single digits annually.
Recent Initiatives: Recent initiatives have likely focused on optimizing its existing portfolio, exploring new development opportunities with its tenants, and potentially pursuing strategic acquisitions to expand its footprint or diversify its tenant base.
Summary
Gaming & Leisure Properties is a strong player in the gaming real estate sector, boasting a stable revenue model through long-term leases and a diversified portfolio. Its consistent dividend payouts and historical growth are positive indicators. However, its dependence on key tenants and the cyclical nature of the gaming industry present potential headwinds. Continued strategic acquisitions and prudent management of tenant relationships will be crucial for sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations Filings (10-K, 10-Q)
- Financial News and Analysis Websites (e.g., Bloomberg, Reuters, Yahoo Finance)
- Industry Reports and Market Research
Disclaimers:
This JSON output is generated based on publicly available information and is intended for informational purposes only. It does not constitute financial advice. Investment decisions should be made after consulting with a qualified financial advisor and conducting independent research. Market share data and financial figures are estimates and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Gaming & Leisure Properties
Exchange NASDAQ | Headquaters Wyomissing, PA, United States | ||
IPO Launch date 2013-10-14 | Chairman of the Board & CEO Mr. Peter M. Carlino | ||
Sector Real Estate | Industry REIT - Specialty | Full time employees 19 | Website https://www.glpropinc.com |
Full time employees 19 | Website https://www.glpropinc.com | ||
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, including coverage of the landlord's interests taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
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