NASDAQ$GLPI
Gaming and Leisure · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported record third quarter financial results, driven by consistent performance of the legacy tenant portfolio and strategic acquisitions.
Gaming and Leisure Properties reported strong third-quarter results, with total revenue increasing by 7.1% year-over-year to $385.3 million and AFFO growing by 6.8%. The company's expansion and growth momentum continue, supported by the addition of new tenants and strategic transactions, including those with Bally's. GLPI remains confident in its ability to deliver strong capital returns and yields for shareholders, as reflected in the increased third-quarter dividend of $0.76 per share.
- Total revenue rose 7.1% year-over-year to $385.3 million.
- AFFO grew 6.8%, highlighting the growth of the property portfolio and rent escalations.
- Completed the $250 million acquisition of the land for Bally’s Chicago casino with an initial cash yield of 8.0%.
- Investment activity in 2024 reached nearly $2 billion at a blended yield of 8.4%.
Headline financials
Revenue & EPS history
GLPI · Revenue · Quarterly
$385M
Revenue by segment
GLPI · $336M total across 4 segments · Q3 2023
- Building Base Rent$276M+21.4%82.2%
- Land Base Rent$42M-19.2%12.5%
- Percentage Rent & Other$17.8M-52.2%5.3%
- Interest Income RE Loans$22K—0.0%
Forward guidance
The Company estimates AFFO for the year ending December 31, 2024 will be between $1.055 billion and $1.058 billion, or between $3.74 and $3.76 per diluted share and OP units.
Tailwinds
- Guidance does not include the impact on operating results from any possible future acquisitions or dispositions.
- Guidance does not include future capital markets activity.
- Guidance does not include other future non-recurring transactions other than anticipated fundings on current development projects.
- Guidance assumes there will be no material changes in applicable legislation.
- Guidance assumes there will be no material changes in the regulatory environment.
Headwinds
- Guidance assumes there will be no material changes in world events, including weather.
- Guidance assumes there will be no material changes in public health, recent consumer trends.
- Guidance assumes there will be no material changes in economic conditions.
- Guidance assumes there will be no material changes in oil prices.
- Guidance assumes there will be no material changes in the competitive landscape or other circumstances beyond our control that may adversely affect the Company's results of operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.2%
Avg return
Earnings day
-0.0%
Avg return
5 days after
-0.7%
Avg return
30 days after
51%
29 / 57 earnings
Positive
+6.3%
Q3 2025
Best reaction
-8.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | +2.9% | +2.4% | |
| Q4 2025 | -0.3% | +1.4% | -2.8% | |
| Q3 2025 | +6.3% | +5.5% | +1.8% | |
| Q1 2025 | -2.6% | -2.4% | -5.7% | |
| Q4 2024 | -0.5% | +0.8% | +1.6% | |
| Q3 2024 | -2.3% | -0.1% | +0.0% | |
| Q2 2024 | +1.8% | +3.5% | +4.5% | |
| Q1 2024 | -2.3% | -1.7% | +2.8% | |
| Q4 2023 | +2.4% | +2.1% | +3.6% | |
| Q3 2023 | -1.2% | +0.6% | -0.6% | |
| Q2 2023 | -3.6% | -2.3% | -6.9% | |
| Q1 2023 | +2.3% | -0.1% | -7.4% | |
| Q4 2022 | -0.1% | +2.0% | -6.2% | |
| Q3 2022 | +4.9% | +7.3% | +7.7% | |
| Q2 2022 | +0.3% | -0.4% | -2.9% | |
| Q1 2022 | -1.4% | -0.5% | +5.8% | |
| Q4 2021 | +2.2% | +2.1% | +2.5% | |
| Q3 2021 | -1.3% | +0.7% | -7.3% | |
| Q2 2021 | -0.4% | -3.2% | +2.1% | |
| Q1 2021 | +1.0% | +1.5% | +0.7% | |
| Q4 2020 | -2.4% | -0.9% | -4.6% | |
| Q3 2020 | -3.6% | -4.6% | +10.3% | |
| Q2 2020 | +2.5% | +4.9% | +6.2% | |
| Q1 2020 | -8.4% | -10.9% | +19.8% | |
| Q4 2019 | +2.8% | -2.1% | -60.9% | |
| Q3 2019 | +2.8% | +3.1% | +5.3% | |
| Q2 2019 | +1.0% | +1.1% | +4.5% | |
| Q1 2019 | -2.8% | -1.2% | -1.8% | |
| Q4 2018 | -0.9% | -1.7% | -2.1% | |
| Q3 2018 | -0.4% | +0.0% | +2.2% | |
| Q2 2018 | -2.9% | -2.9% | -1.5% | |
| Q1 2018 | -0.5% | -0.1% | +2.0% | |
| Q4 2017 | -4.4% | -4.4% | -5.9% | |
| Q3 2017 | +1.0% | +2.0% | +0.4% | |
| Q2 2017 | -1.7% | -0.4% | +0.4% | |
| Q1 2017 | +0.3% | +1.5% | +6.0% | |
| Q4 2016 | +1.6% | +1.3% | +3.3% | |
| Q3 2016 | -2.3% | -5.9% | -2.4% | |
| Q2 2016 | +0.7% | +0.0% | -3.8% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | +2.4% | — | — | |
| Q3 2015 | -2.7% | — | — | |
| Q2 2015 | -1.2% | — | — | |
| Q1 2015 | +2.0% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2014 | -3.9% | — | — | |
| Q2 2013 | +1.7% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +0.2% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q4 2013 | -0.0% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q1 2013 | +0.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro