Gaming and Leisure Properties, Inc. (GLPI) Financial Statements

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Gaming and Leisure Properties financial statements at a glance

Gaming and Leisure Properties reported revenue of $1.59 billion for fiscal year 2025 (ended December 31, 2025), up 4.1% from fiscal year 2024. Net income was $824.37 million, a net margin of 51.7%, and diluted earnings per share were $2.95.

At the end of fiscal year 2025 it had total assets of $12.91 billion, total liabilities of $7.90 billion and shareholders' equity of $4.63 billion, with cash and short-term investments of $224.31 million and total debt of $7.51 billion.

Its operations brought in $1.13 billion of cash; capital spending was $304.44 million, leaving free cash flow of $824.97 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

GLPI logo

Gaming and Leisure Properties, Inc.

GLPIUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
1.59B
Prev Year: 1.53B
YoY: +4.1%
Operating Revenue
1.59B
Prev Year: 1.53B
YoY: +4.1%
Net Income from Continuing Operation Net Minority Interest
825.11M
Prev Year: 784.62M
YoY: +5.2%
Total Unusual Items Excluding Goodwill
-9.96M
Prev Year: 3.79M
YoY: -362.7%
Total Unusual Items
-9.96M
Prev Year: 3.79M
YoY: -362.7%
Normalized EBITDA
1.52B
Prev Year: 1.45B
YoY: +5.1%
Tax Rate for Calcs
0.003
Prev Year: 0
Tax Effect of Unusual Items
-29.9K
Prev Year: 11.4K
YoY: -362.7%
Rent Expense (supplemental)
55.41M
Prev Year: 47.67M
YoY: +16.2%
Otherunder Preferred Stock Dividend
741.0K
Prev Year: 459.0K
YoY: +61.4%
Provision for Doubtful Accounts
8.66M
Prev Year: 37.25M
YoY: -76.7%
Depreciation
265.86M
Prev Year: 260.15M
YoY: +2.2%
Salaries and Wages
3.10M
Cost of Revenue
55.41M
Prev Year: 47.67M
YoY: +16.2%
Gross Profit
1.54B
Prev Year: 1.48B
YoY: +3.7%
Operating Expense
331.72M
Prev Year: 356.98M
YoY: -7.1%
Selling General and Administrative
57.19M
Prev Year: 59.57M
YoY: -4.0%
General and Administrative Expense
57.19M
Prev Year: 59.57M
YoY: -4.0%
Other General and Administrative
54.09M
Prev Year: 59.57M
YoY: -9.2%
Rent and Landing Fees
-
Depreciation Amortization Depletion
265.86M
Prev Year: 260.15M
YoY: +2.2%
Depreciation and amortization
265.86M
Prev Year: 260.15M
YoY: +2.2%
Operating Income
1.21B
Prev Year: 1.13B
YoY: +7.2%
Net Non Operating Interest Income Expense
-345.08M
Prev Year: -320.91M
YoY: -7.5%
Non-operating Interest Income
28.80M
Prev Year: 45.99M
YoY: -37.4%
Non-operating Interest Expense
373.88M
Prev Year: 366.90M
YoY: +1.9%
Other Income Expense
-9.96M
Prev Year: 3.79M
YoY: -362.7%
Gain on Sale of Securities
125.0K
Prev Year: 3.79M
YoY: -96.7%
Special Income Charges
-10.08M
Restructuring and Mergers Acquisition
6.30M
Impairment of Capital Assets
-
Write-offs
-
Other Special Charges
3.78M
Gain on Sale of Property, Plant and Equipment
-
Pre-tax Income
852.59M
Prev Year: 809.78M
YoY: +5.3%
Provision for Income Taxes
2.23M
Prev Year: 2.13M
YoY: +4.7%
Net Income Common Stockholders
824.37M
Prev Year: 784.16M
YoY: +5.1%
Net Income
825.11M
Prev Year: 784.62M
YoY: +5.2%
Net Income Including Non-Controlling Interests
850.36M
Prev Year: 807.65M
YoY: +5.3%
Net Income from Continuing Operations
850.36M
Prev Year: 807.65M
YoY: +5.3%
Noncontrolling Interests
-25.25M
Prev Year: -23.03M
YoY: -9.6%
Diluted NI Available to Com Stockholders
824.37M
Prev Year: 784.16M
YoY: +5.1%
Average Dilution Earnings
-
Basic EPS
2.95
Prev Year: 2.87
YoY: +2.8%
Diluted EPS
2.95
Prev Year: 2.87
YoY: +2.8%
Weighted Average Shares (basic)
279.70M
Prev Year: 272.80M
YoY: +2.5%
Weighted Average Shares (diluted)
280.04M
Prev Year: 273.53M
YoY: +2.4%
Total Operating Income as Reported
1.20B
Prev Year: 1.13B
YoY: +6.3%
Total Expenses
387.12M
Prev Year: 404.65M
YoY: -4.3%
Net Income from Continuing and Discontinued Operation
825.11M
Prev Year: 784.62M
YoY: +5.2%
Normalized Income
835.04M
Prev Year: 780.84M
YoY: +6.9%
Interest Income
28.80M
Prev Year: 45.99M
YoY: -37.4%
Interest Expense
373.88M
Prev Year: 366.90M
YoY: +1.9%
Net Interest Income
-345.08M
Prev Year: -320.91M
YoY: -7.5%
EBIT
1.23B
Prev Year: 1.18B
YoY: +4.2%
EBITDA
1.51B
Prev Year: 1.45B
YoY: +4.1%
Reconciled Cost of Revenue
38.33M
Prev Year: 34.40M
YoY: +11.4%
Reconciled Depreciation
282.94M
Prev Year: 273.42M
YoY: +3.5%
Values in USD

Gaming and Leisure Properties key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$1.6B$1.5B$1.4B$1.3B$1.2B
Gross profit$1.5B$1.5B$1.4B$1.3B$1.1B
Operating income$1.2B$1.1B$1.1B$962.4M$820.0M
Net income$824.4M$784.2M$733.8M$684.2M$533.7M
Diluted EPS$2.95$2.87$2.77$2.70$2.26
Total assets$12.9B$13.3B$11.8B$10.9B$10.7B
Total liabilities$7.9B$8.7B$7.3B$6.8B$7.3B
Shareholders' equity$4.6B$4.3B$4.2B$3.8B$3.2B
Cash and short-term investments$224.3M$1.0B$684.0M$239.1M$724.6M
Total debt$7.5B$8.0B$6.9B$6.4B$6.8B
Operating cash flow$1.1B$1.1B$1.0B$920.1M$803.8M
Capital spending$304.4M$39.7M$47.4M$24.0M$16.2M
Free cash flow$825.0M$1.0B$961.9M$896.1M$787.6M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Gaming and Leisure Properties's revenue in fiscal year 2025?

$1.59 billion, up 4.1% from $1.53 billion in fiscal year 2024.

How much profit does Gaming and Leisure Properties make?

Gaming and Leisure Properties reported net income of $824.37 million for fiscal year 2025 (51.7% of revenue); operating income was $1.21 billion.

How much cash and debt does Gaming and Leisure Properties have?

At the end of fiscal year 2025: cash and short-term investments of $224.31 million and total debt of $7.51 billion.

What is Gaming and Leisure Properties's free cash flow?

$824.97 million in fiscal year 2025 (operating cash flow of $1.13 billion minus capital spending of $304.44 million).

MoreGaming and Leisure Properties stock overviewGaming and Leisure Properties executive teamGaming and Leisure Properties shareholdersGaming and Leisure Properties revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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