Revenue for real estate investment trust (REIT) Gaming & Leisure Properties Inc. rose 9.5 percent in the third quarter of 2026, achieving $435.4 million. Profits narrowed, however, down to $213.8 million from $248.5 million in 2025’s third quarter.
Cash flow grew 13 percent; for the quarter it was $413.9 million.
“Despite this consistent execution, we believe GLPI’s share price remains significantly dislocated from its fundamentals, resulting in an attractive yield of over 8.5 percent based on the current quarterly cash dividend,” stated the REIT in a press release. “Regional gaming has proven its resilience for decades and it is doing so again,” added an unnamed GLPI executive.
In a fourth-quarter development, GLPI announced a pact with Prologis to jointly develop the former site of Hollywood Casino Joliet, recently superseded by a new property at a different location. In GLPI’s first non-gaming transaction, it and Prologis will develop a 3.8-million-square-foot warehouse and distribution park at the old Illinois casino location.
GLPI’s portion of the deal is the provision of the land, valued at $61 million, in return for 20 percent ownership. Should GLPI choose to invest capital, that stake could rise to 30 percent.
REIT CEO Peter Carlino made no statement at the time of the release.
