Recording third-quarter bests for revenue and cash flow, Gaming & Leisure Properties Inc. released its quarterly numbers late on October 30. The real estate investment trust (REIT) also revised its full-year guidance for 2025.
GLPI realized a profit of $248.5 million (up from $190.1 million a year before) and cash flow of $366.4 million. The profit translated into earnings per share of $0.85.
Total revenue was $397.6 million and income from operations was $337.2 million, both up from third quarter 2024. That was a revenue boost of 3.2 percent and a cash-flow increase of 5.8 percent.
Quarterly transactions included the infusion of $130 million into the completion of new Hollywood Joliet, operated by Penn Entertainment, in Illinois. GLPI expects another capital project, M Resort’s second hotel tower, to open in Las Vegas on December 1. The REIT put $150 million toward that project. Also ongoing is the construction of a hotel for Hollywood Columbus in Ohio, for which GLPI is providing $225 million in financing.
In a prepared statement, the REIT’s CEO, Peter Carlino, said that $1.7 billion Bally’s Chicago “has reached several significant milestones.” He didn’t say whether it would open, as originally planned, in September 2026. The project has undergone several revisions.
Earlier this week, GLPI infused $440 million into Cordish Gaming’s Live! Casino & Hotel Virginia. The land under the Petersburg project was also sold to the REIT for $27 million.
