Gaming and Leisure Properties is progressing a casino real estate development programme expected to total about $800 million in 2026. The programme covers construction funding and property investments that are intended to generate rent under long-term agreements with gaming operators.
The company's third-quarter results show revenue of $435.4 million, up from $397.6 million a year earlier. Adjusted funds from operations increased to $311.7 million from $282 million, while adjusted EBITDA rose to $413.9 million.
GLPI owns and finances casino land and buildings instead of operating the gaming businesses. That structure means its development spending is tied to lease arrangements with operators once projects open or financing milestones are reached.
G3 Newswire reported that several large investments contributed to the company's latest performance and continue to move through the portfolio. The scale of the programme makes development execution and tenant rent coverage important measures for the remaining stages.
