Gaming and Leisure Properties, Inc. said Wednesday company Chief Financial Officer Bill Clifford will retire in August.
The gaming industry’s largest real estate investment trust said Clifford, who helped found GLPI in 2013 as spin-off from Penn National Gaming, wanted to provide for an orderly transition. Clifford was Penn National’s CFO for more than 12 years.
“During his tenure, he was instrumental in the exponential growth of Penn National Gaming and (GLPI’s) emergence in 2013 in a tax-free spin-out from Penn,” GLPI CEO Peter Carlino said in a statement. “On behalf of the board and everyone at the company, I would like to thank Bill for his dedication to the company.”
Clifford has more than 30 years of experience in the gaming industry. Prior to joining Penn, Clifford served as the CFO of Sun International Resorts in the Bahamas. During Mr. Clifford’s noteworthy career, he also held positions with several Las Vegas Strip resorts.
He began his career as an Agent in the Audit Division of the Nevada Gaming Control Board in Las Vegas and Reno .
GLPI said it would work with a nationally recognized firm to conduct a search for a new CFO. Clifford will continue in his current role as until May 4 when will become a senior adviser to GLPI. Steven Snyder will assume the CFO role on an interim basis.
At the end of March, GLPI owned the real estate associated with 38 casinos and leases 20 of the properties to Penn National, 15 to Pinnacle Entertainment, Inc., and one to Casino Queen in East St. Louis, Ill. Two casinos, located in Baton Rouge, La., and Perryville, Md., are owned and operated by a subsidiary of GLPI, GLP Holdings, Inc.
