GLPI's Revenue Rises, Profit Declines

Real estate investment trust Gaming & Leisure Properties (GLPI) raised its revenue by 9.5% in the third quarter of 2026, reaching $435.4 million. Even so, profit shrank. The company's profit was $248.5 million in the same quarter last year, but this year it came in at $213.8 million.

Cash flow rose 13% quarter on quarter to $413.9 million. In its statement, the company argued that the share price is significantly far from its fundamental value. It said the yield calculated on the current quarterly dividend is above 8.5%.

An unnamed executive at the company said regional casinos have remained resilient for decades and have shown this once again. No comment had been received from CEO Peter Carlino at the time of the announcement.

GLPI signed a joint development agreement with Prologis for the former Hollywood Casino Joliet land, whose operations were taken over by a new facility opened at a different location in the region some time ago. A 3.8 million square foot warehouse and distribution park will be built on the Illinois site. This is the company's first transaction outside of gaming. GLPI will hold a 20% stake in the project by contributing land valued at $61 million. If the company decides to contribute capital, its stake could rise to 30%.