Gaming and Leisure Properties, Inc.

Real estate trust that owns casino properties and leases them to operators

What Gaming and Leisure Properties does

Gaming and Leisure Properties buys and owns casino and gaming real estate, then rents it to the companies that run the casinos. The tenants pay the property costs, including maintenance, insurance, taxes and utilities. The company also lends money for gaming projects, and some of those loans can turn into rental agreements once the projects are finished.

How Gaming and Leisure Properties makes money

It earns rent from gaming operators under long-term triple-net leases, where tenants pay nearly all property costs. It also earns fixed or variable interest on project loans, which may later convert into lease rent.

Products & services

• Triple-net leases of casino properties
• Gaming real estate acquisitions
• Sale-leaseback financing for gaming operators
• Project and development loans convertible to leases