Roberts & Ryan hosted an informative call with a group of investors and Gaming & Leisure Properties, Inc.
Company Participants:
Brandon Moore: President, Chief Operating Officer & Secretary
Carlo Santarelli: SVP, Corporate Strategy & Investor Relations
Gaming and Leisure Properties, Inc. is a REIT that focuses on the gaming industry. You’ll recognize their largest tenants: PENN Entertainment, Inc, Caesars Entertainment, Boyd Gaming, and Bally’s Corporation. Their portfolio is well diversified – a variety of tenants and importantly, spread across 20 different states.
Some Key Takeaways:
· Stability of Rental Streams (They collected 100% of rents during COVID)
· Quality and Durability of Assets
· Significant Rent Coverage
Their balance sheet is solid, giving them ample opportunity to grow through acquisitions. The most recent example of that is a $183.75M deal that will be closing this week. It sounds like they’re presented with a number of opportunities – and not ruling out non-gaming assets, either. The numbers just have to make sense.
Put “GLPI” on your radar, and take a look at them here: https://www.glpropinc.com/
“THANK YOU” to Brandon, Carlo, and the entire Gaming and Leisure Properties, Inc. team for supporting us as a veteran-owned firm. We’re doing great things socially through the success of our business, and that can only happen with the support of great companies like yours!
