Thu, Jul 25, 8:42 PM (44 days ago)
Gaming and Leisure Properties, Inc. (GLPI) reported improved financial performance for Q2 2024, driven by increased rental income and strategic acquisitions. Total revenues rose to $380.6 million, a 6.7% increase from Q2 2023, primarily due to acquisitions and lease escalations. Income from operations grew to $293.4 million, up 23.1% year-over-year. Operating expenses decreased by $31.1 million, largely due to a significant reduction in the provision for credit losses. Interest expenses increased due to higher borrowings, but this was offset by higher interest income from cash balances. Net income attributable to common shareholders increased to $208.3 million, up 33.8% from Q2 2023. Future growth is expected from ongoing acquisitions and lease escalations, despite potential economic uncertainties.