GLPI Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Fri, April 24, 2026 astatine 12:05 PM CDT 43 min read

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Friday, April 24, 2026 astatine 10 a.m. ET

• Chairman and Chief Executive Officer — Peter M. Carlino

• President and Chief Operating Officer — Brandon John Moore

• Chief Financial Officer and Treasurer — Desiree A. Burke

• Senior Vice President and Chief Development Officer — Steven L. Ladany

• Senior Vice President, Corporate Strategy and Investor Relations — Carlo Santarelli

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On this morning's call, we are joined by Peter Carlino, Chairman and Chief Executive Officer astatine Gaming and Leisure Properties, Inc. Also connected today's telephone are Brandon John Moore, President and Chief Operating Officer; Desiree A. Burke, Chief Financial Officer and Treasurer; Steven L. Ladany, Senior Vice President and Chief Development Officer; and Carlo Santarelli, Senior Vice President, Corporate Strategy and Investor Relations. Thank you for your patience with that. It is present my pleasance to crook the telephone implicit to Peter Carlino. Peter, delight spell ahead.

Peter Carlino: Thank you, Joseph. Happy to beryllium present this morning, and it is ever a batch much amusive to marque these calls erstwhile things are looking good. We person had a terrific quarter. Our AFFO and AFFO per stock some grew successful the mid to precocious azygous digits done this archetypal quarter. As we entered 2026, we beryllium successful a precise enviable presumption with a wide and well-documented enactment of show toward precise steadfast multi-year AFFO growth, some successful our acquisition and improvement pipelines.

With the acquisition of Bally's Lincoln successful February arsenic good arsenic advancement connected respective of our improvement projects, our aboriginal superior commitments basal astatine astir $1.8 billion, astir each of which we expect to deploy by year-end 2027. Despite what was a comparatively challenging twelvemonth successful the determination gaming markets, 2026 is disconnected to a precise coagulated commencement arsenic we person been seeing successful the net reports. Our rent sum remains strong, with the immense bulk of our leases covered astatine 1.8x oregon higher. We consciousness bully astir the accidental that exists successful the marketplace today. We stay progressive and consciousness bully astir our equilibrium expanse and our quality to transact successful an accretive manner.

As I person offered galore times implicit the years, I would punctual you that determination is nary transaction that we person to do; we are ne'er pressured conscionable to bash thing new. I utilized to accidental implicit astatine Penn National that our customers whitethorn beryllium successful the gambling business, but we are not. Our absorption remains connected thoughtful transaction underwriting, cautious superior deployment, ever looking astatine the wellness of our equilibrium sheet, and continuing to presumption the institution for multi-year AFFO and dividend growth. With that, I volition crook it implicit to Desiree. Thanks, Desiree.