Gaming and Leisure Properties Inc. Thursday announced revenue of $380.6 million for the 2Q24 compared to 356.6 million for the same period in 2023, a 6.7% increase.
Income from operations was $293.4 million, a year-over-year increase of 23.1% from the $238.3 million, Net income was $214.4 million in 2Q24 compared to $160.1 million in 2023, a 25.3% increase.
Adjusted funds from operation were up $264.4 million in 2Q24, a 5.6% increase year over year.
“GLPI again delivered record financial results in 2024 second quarter as we continued to leverage our consistent cash-flow generation and benefit from our unmatched roster of the gaming industry’s leading operators,” said GLPI Chairman and CEO Peter Carlino. “Second-quarter total revenue grew 6.7% year over year to $380.6 million and AFFO grew 5.6%, as we benefited from the growth of our property portfolio and rent escalations along with our discipline around liquidity and capital structure.
“Furthermore, our consistent successes in building our tenant base clearly demonstrate our opportunistic approach to portfolio expansion, as well as our ability to work with existing tenants to find exciting new ways to expand our close relationships.”
Adjusted EBITDA was $340.4 million in 2Q24 versus $325.5 million in 2023, a 4.6% increase.
