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Gaming & Leisure Properties (GLPI)

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Upturn Advisory Summary
01/09/2026: GLPI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $53.86
1 Year Target Price $53.86
| 11 | Strong Buy |
| 4 | Buy |
| 8 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -16.61% | Avg. Invested days 29 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() | Upturn Advisory Performance | Stock Returns Performance |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 12.68B USD | Price to earnings Ratio 16.06 | 1Y Target Price 53.86 |
Price to earnings Ratio 16.06 | 1Y Target Price 53.86 | ||
Volume (30-day avg) 24 | Beta 0.69 | 52 Weeks Range 41.17 - 48.87 | Updated Date 01/9/2026 |
52 Weeks Range 41.17 - 48.87 | Updated Date 01/9/2026 | ||
Dividends yield (FY) 6.86% | 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 16.06 | Forward PE 12.36 | Enterprise Value 19438131888 | Price to Sales(TTM) 8.04 |
Enterprise Value 19438131888 | Price to Sales(TTM) 8.04 | ||
Enterprise Value to Revenue 12.32 | Enterprise Value to EBITDA 13.44 | Shares Outstanding 283008342 | Shares Floating 270558805 |
Shares Outstanding 283008342 | Shares Floating 270558805 | ||
Percent Insiders 4.18 | 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) that owns and develops gaming and leisure-focused real estate. GLPI's primary strategy is to acquire, finance, and own real estate assets that are leased to gaming operators. The company has grown through strategic acquisitions of casino properties and the formation of long-term lease agreements with established operators.
Core Business Areas
- Real Estate Ownership and Leasing: GLPI's core business is acquiring, owning, and leasing casino and integrated resort properties to gaming operators. These leases are typically long-term, net leases, providing stable and predictable revenue streams.
- Real Estate Development and Redevelopment: GLPI also engages in the development and redevelopment of its owned real estate to enhance value and attract new or expand existing gaming operations.
Leadership and Structure
Gaming & Leisure Properties operates as a publicly traded REIT. The company is managed by a team of experienced executives, led by Peter M. Carlino, Chairman and Chief Executive Officer. Its structure is focused on managing its real estate portfolio and cultivating relationships with gaming operators.
Top Products and Market Share
Key Offerings
- Casino Property Leases: GLPI's primary offering is the lease of its casino properties to gaming operators. These leases are the company's main source of revenue. Market share data for individual property leases is not publicly disclosed in a comparable format. Competitors in the casino real estate sector include Vici Properties (VICI) and other REITs that own casino properties.
Market Dynamics
Industry Overview
The gaming and leisure real estate industry is characterized by its reliance on the performance of the underlying gaming operators and the broader economic conditions that influence consumer spending on entertainment. The industry is influenced by regulatory changes, competitive pressures among operators, and trends in the gaming market, such as the expansion of sports betting and iGaming.
Positioning
GLPI is one of the largest pure-play REITs focused on casino properties. Its competitive advantage lies in its portfolio of strategically located, high-quality gaming assets and its long-term relationships with leading gaming operators. The company's REIT structure allows it to pass through taxable income to shareholders.
Total Addressable Market (TAM)
The total addressable market for gaming and leisure real estate is substantial, encompassing all casino and integrated resort properties. While difficult to quantify precisely, it is estimated to be in the hundreds of billions of dollars globally. GLPI is well-positioned within its niche by owning and leasing a significant portion of prime casino real estate in the US, particularly through its association with major operators.
Upturn SWOT Analysis
Strengths
- Diversified tenant base with long-term lease agreements.
- Portfolio of high-quality, well-located gaming properties.
- Experienced management team with deep industry knowledge.
- REIT structure provides tax advantages and stable income distribution.
- Strong relationships with major gaming operators.
Weaknesses
- Dependence on the financial health of its tenants.
- Sensitivity to changes in gaming regulations and consumer preferences.
- Limited diversification beyond the gaming sector.
- Potential for asset obsolescence in a rapidly evolving industry.
Opportunities
- Expansion into new gaming markets and jurisdictions.
- Acquisition of new gaming and entertainment properties.
- Development of ancillary revenue streams from its properties.
- Growth in sports betting and iGaming could drive demand for casino space.
- Potential for strategic partnerships and joint ventures.
Threats
- Economic downturns impacting consumer discretionary spending.
- Increased competition from new casino developments or alternative entertainment options.
- Changes in gaming tax laws or regulations.
- Tenant defaults or bankruptcies.
- Rising interest rates increasing the cost of capital.
Competitors and Market Share
Key Competitors
- Vici Properties Inc. (VICI)
Competitive Landscape
GLPI competes with other REITs that own casino properties, such as Vici Properties. Its advantages lie in its established relationships with major gaming operators and its portfolio of geographically diverse, high-performing assets. However, competition for prime acquisition targets can be intense.
Major Acquisitions
Bally's Chicago Casino Resort (partial ownership/leasehold)
- Year: 2023
- Acquisition Price (USD millions): 760
- Strategic Rationale: To secure a lease agreement for a new casino development in a major metropolitan market, diversifying its portfolio and expanding its reach.
Rocky Gap Casino Resort
- Year: 2023
- Acquisition Price (USD millions): 203
- Strategic Rationale: To acquire a fully integrated casino resort property in a growing market, enhancing its portfolio and revenue streams.
Growth Trajectory and Initiatives
Historical Growth: GLPI has demonstrated consistent growth in its real estate portfolio through strategic acquisitions and lease agreements. Its growth has been fueled by its ability to identify undervalued gaming properties and secure long-term lease commitments from strong operators.
Future Projections: Future growth is expected to be driven by ongoing strategic acquisitions, potential lease escalations, and opportunities in emerging gaming markets. Analyst estimates often focus on FFO per share growth and potential dividend increases.
Recent Initiatives: Recent initiatives may include the acquisition of new casino properties, the expansion of existing lease agreements, and potentially diversification into related entertainment real estate sectors.
Summary
Gaming & Leisure Properties is a strong player in the casino real estate sector, leveraging its diversified portfolio and long-term lease agreements to generate stable income. Its focus on high-quality assets and relationships with major operators provides a solid foundation. However, the company's reliance on the gaming industry's performance and its tenants' financial health presents potential risks.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Reuters, Bloomberg)
- Financial Data Providers (e.g., Yahoo Finance, Google Finance)
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Market share data is estimated and based on available industry information. Financial figures and projections are subject to change and market volatility. Investors should conduct their own due diligence before making any investment decisions.
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, 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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