Gaming and Leisure Properties, Inc. (GLPI) reported financial results for the third quarter ended September 30, 2026, revealing record-breaking performance across several key metrics. Total revenue for the three-month period reached $435.4 million, a 9.5% increase from the $397.6 million reported in the prior year. The company also reported a net income of $213.8 million, or $0.71 per diluted share, compared to $248.5 million, or $0.85 per share, in the prior year.
Adjusted Funds From Operations (AFFO) for the quarter totaled $311.7 million, representing a 10.5% year-over-year increase, and Adjusted EBITDA rose 13.0% to $413.9 million. The company declared a third-quarter dividend of $0.82 per share, payable on September 25, 2026, to shareholders of record on September 11, 2026. The Board also set an annualized dividend rate of $3.28 per share.
In recent business developments, GLPI entered into a definitive agreement with Prologis, Inc. to develop the former Hollywood Casino Joliet site in Illinois into a Class A warehouse and distribution park. The project is expected to include five buildings totaling over 3.8 million square feet and is anticipated to take approximately five years to complete. GLPI will contribute its land to the joint venture and hold an ownership interest of approximately 20%, with the potential to increase to 30% if additional capital is contributed.
The company also updated its full-year 2026 AFFO guidance. GLPI now estimates AFFO for the year ending December 31, 2026, to be between $1.222 billion and $1.225 billion, or between $4.11 and $4.12 per diluted share. This guidance incorporates an additional $265 million in development spending, bringing the total 2026 development commitment to $800 million.
