GLPI
Real EstateGaming and Leisure Properties, Inc. · REIT - Specialty · $14B
What is Gaming and Leisure Properties, Inc.?
Gaming and Leisure Properties is a real estate investment trust focused exclusively on the gaming sector. It acquires and owns casino properties, then leases them back to gaming operators under long-term triple-net lease structures.
GLPI generates revenue by owning casino real estate and leasing those properties to gaming operators through triple-net lease agreements — meaning tenants cover property taxes, insurance, and maintenance costs. This structure provides predictable, recurring rental income with limited direct operating exposure to casino performance. The company also finances acquisitions for gaming operators, expanding its portfolio without taking on casino operating risk directly.
Founded in 2013 and headquartered in Wyomissing, Pennsylvania, GLPI was spun off to create a dedicated gaming-focused REIT.
- Triple-net lease agreements with gaming operators
- Casino property acquisitions and sale-leaseback transactions
- Real estate financing solutions for gaming companies
- Long-term master lease structures with built-in rent escalators
Is GLPI a Good Stock to Buy?
UQS Score rates GLPI as Good overall, reflecting a balanced profile across its five pillars.
The Quality pillar stands out as a clear strength, consistent with GLPI's predictable cash flow model and disciplined lease structure. Valuation also registers as Good, suggesting the stock is not excessively priced relative to its fundamentals — a meaningful consideration for income-focused investors evaluating gaming REITs.
Growth is the weakest pillar in GLPI's profile, which is typical for mature net-lease REITs where expansion is incremental rather than rapid. Moat and Risk both sit at Neutral, reflecting the competitive landscape and tenant concentration inherent in specialized real estate.
See the full pillar breakdown and underlying financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does GLPI pay dividends?
Yes — Gaming and Leisure Properties, Inc. pays a dividend.
GLPI pays a regular dividend, which is central to its identity as a REIT — federal rules require distributing the majority of taxable income to shareholders. The triple-net lease model supports consistent cash flow, underpinning dividend reliability. Income-oriented investors often consider gaming REITs like GLPI specifically for this recurring distribution profile.
When does GLPI report earnings?
Gaming and Leisure Properties reports earnings on a quarterly cadence, typical for US-listed REITs.
GLPI's results tend to reflect the stability of its lease income rather than dramatic swings, given the triple-net structure insulates it from direct casino operating volatility. Investors typically focus on funds from operations and lease coverage metrics when evaluating quarterly results.
For the most recent quarter's results and upcoming reporting dates, visit Gaming and Leisure Properties' investor relations page directly.
GLPI Price History
+38.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Gaming and Leisure Properties, Inc.?
Based on Gaming and Leisure Properties, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
GLPI Long-term Outlook
GLPI's fundamental outlook is shaped by its Weak Growth pillar and Neutral Risk profile. The triple-net lease model provides income stability, but meaningful top-line acceleration depends on new property acquisitions or sale-leaseback deals — opportunities that arise episodically rather than consistently. The Neutral Risk rating reflects manageable but real tenant concentration risk, as the gaming sector's health directly influences lease coverage. The Good Valuation label suggests the market is not pricing in aggressive growth expectations, which may suit investors prioritizing income over capital appreciation.
Growth drivers
- Opportunistic casino sale-leaseback transactions expanding the portfolio
- Built-in rent escalators within existing master lease agreements
- Financing arrangements that deepen relationships with gaming operators
Key risks
- Tenant concentration — a small number of gaming operators represent significant lease revenue
- Limited organic growth given the mature, net-lease business model
- Broader real estate sector sensitivity to interest rate movements
GLPI vs Peers
GLPI operates in the specialized net-lease real estate space, but it shares the broader REIT landscape with companies that own very different asset types.
Lamar is a REIT focused on outdoor advertising billboards rather than gaming properties, offering exposure to advertising-driven income rather than casino lease revenue.
Weyerhaeuser is a timberland REIT whose income is tied to lumber markets and forest management, a fundamentally different asset class from gaming real estate.
SBA Communications owns wireless tower infrastructure, making its revenue dependent on telecom carrier leases rather than gaming operator agreements.
Frequently Asked Questions
What does Gaming and Leisure Properties do?
Gaming and Leisure Properties acquires casino real estate and leases it back to gaming operators under triple-net lease agreements. Tenants handle operating costs, while GLPI collects predictable rental income. The company also provides real estate financing to gaming operators, making it a capital partner as well as a landlord.
Does GLPI pay dividends?
Yes, GLPI pays a regular dividend. As a REIT, it is required to distribute the majority of its taxable income to shareholders. The triple-net lease structure supports consistent cash flow, which underpins the dividend. Income-focused investors often include gaming REITs like GLPI for this reason.
When does GLPI report earnings?
GLPI reports on a quarterly cadence, as is standard for US-listed REITs. Exact dates vary each quarter. For confirmed upcoming reporting dates, check Gaming and Leisure Properties' official investor relations page.
Is GLPI a good stock to buy?
UQS Score rates GLPI as Good overall. Its Quality pillar is Strong and Valuation is Good, while Growth is the weakest area. Whether it suits your portfolio depends on your income versus growth priorities. The full pillar breakdown is available to UQS Pro members.
Is GLPI overvalued?
GLPI's Valuation pillar is rated Good by UQS Score, suggesting it is not excessively priced relative to its fundamentals. For income-oriented REITs, valuation is often assessed alongside dividend yield and lease coverage rather than traditional earnings multiples. See the complete valuation analysis with a Pro account.
How does GLPI compare to its competitors?
GLPI is unique among large-cap REITs in its exclusive focus on gaming real estate. Peers like Lamar Advertising, Weyerhaeuser, and SBA Communications operate in billboard, timberland, and wireless tower assets respectively — very different income drivers. GLPI's niche specialization is both a differentiator and a source of tenant concentration risk.
What is GLPI's market cap bracket?
GLPI is classified as a large-cap stock. This places it among the more established and liquid names in the net-lease REIT space, typically attracting institutional investors alongside income-seeking retail investors.
Who founded Gaming and Leisure Properties?
Gaming and Leisure Properties was founded in 2013 as a spinoff from Penn National Gaming, designed to separate the real estate assets from the casino operating business. Founding context and leadership history are publicly available through the company's investor relations materials.
Is GLPI a long-term quality investment?
From a quality standpoint, GLPI's Strong Quality pillar and Good Valuation suggest a stable foundation for long-term holders focused on income. However, the Weak Growth pillar indicates limited capital appreciation potential. Long-term suitability depends on whether predictable dividend income aligns with your investment objectives.
What is the main competitive advantage of Gaming and Leisure Properties?
GLPI's primary structural advantage is its triple-net lease model, which shifts operating costs to tenants and generates predictable rental income. Its exclusive focus on gaming real estate also gives it deep sector expertise and established relationships with major casino operators — a niche that generalist REITs do not replicate easily.
What sector does GLPI belong to?
GLPI belongs to the Real Estate sector, specifically classified as a net-lease REIT. Its niche within real estate is gaming properties, which distinguishes it from office, industrial, retail, or residential REITs. Investors can explore other [top Real Estate REITs](/sector/real-estate) on UQS Score.
Is GLPI a growth stock or value stock?
Based on its UQS pillar profile, GLPI leans toward value and income rather than growth. The Growth pillar is Weak, reflecting the incremental nature of net-lease expansion, while the Good Valuation label suggests reasonable pricing. It fits more naturally in an income-oriented or value-tilted portfolio.
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Pro Analysis
GLPI — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 58.7 | 91.4 | 46.0 | 28.8 | 45.1 | 78.7 | +0.1 |
| May 7, 2026 | 58.6 | 87.9 | 46.0 | 28.3 | 48.7 | 81.0 | 0.0 |
| May 3, 2026 | 58.6 | 87.9 | 46.0 | 28.3 | 48.7 | 81.2 | -0.1 |
| May 2, 2026 | 58.7 | 87.9 | 46.0 | 28.3 | 48.7 | 81.6 | +0.2 |
| Apr 28, 2026 | 58.5 | 87.9 | 46.0 | 27.7 | 48.7 | 81.0 | +0.1 |
| Apr 26, 2026 | 58.4 | 87.9 | 46.0 | 27.5 | 48.7 | 80.8 | +0.1 |
| Apr 25, 2026 | 58.3 | 87.9 | 46.0 | 27.3 | 48.7 | 80.3 | -0.3 |
| Apr 24, 2026 | 58.6 | 92.7 | 46.0 | 27.1 | 47.5 | 75.9 | -0.3 |
| Apr 23, 2026 | 58.9 | 92.7 | 46.0 | 27.7 | 47.5 | 77.2 | +0.1 |
| Apr 19, 2026 | 58.8 | 92.0 | 46.0 | 27.7 | 47.5 | 77.4 | -0.1 |
GLPI — Pillar Breakdown
Quality
— 91.4/100 (25%)Gaming and Leisure Properties, Inc. demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 28.8/100 (20%)Gaming and Leisure Properties, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 45.1/100 (15%)Gaming and Leisure Properties, Inc. has some risk factors including moderate leverage or solvency concerns.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 78.4/100 (15%)Gaming and Leisure Properties, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 46/100 (25%)Gaming and Leisure Properties, Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for GLPI.
Score Composition
Financial Data
More Stock Analysis
How is the GLPI UQS Score Calculated?
The UQS (Unified Quality Score) for Gaming and Leisure Properties, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Gaming and Leisure Properties, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Gaming and Leisure Properties, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.