2021 Q1 Form 10-Q Financial Statement
#000157596521000015 Filed on April 30, 2021
Income Statement
Concept | 2021 Q1 | 2020 Q1 | 2019 Q3 |
---|---|---|---|
Revenue | $301.5M | $283.5M | $287.6M |
YoY Change | 6.37% | -1.52% | 13.17% |
Cost Of Revenue | $19.93M | $24.60M | $27.60M |
YoY Change | -19.0% | -13.07% | -37.7% |
Gross Profit | $281.6M | $258.9M | $260.0M |
YoY Change | 8.77% | -0.27% | 23.93% |
Gross Profit Margin | 93.39% | 91.33% | 90.4% |
Selling, General & Admin | $16.10M | $16.00M | $15.00M |
YoY Change | 0.63% | -6.98% | 0.0% |
% of Gross Profit | 5.72% | 6.18% | 5.77% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $61.54M | $59.58M | $57.30M |
YoY Change | 3.29% | -3.38% | 110.15% |
% of Gross Profit | 21.85% | 23.01% | 22.04% |
Operating Expenses | $101.4M | $97.13M | $99.99M |
YoY Change | 4.44% | -17.04% | 11.96% |
Operating Profit | $200.1M | $186.4M | $187.6M |
YoY Change | 7.38% | 9.12% | 13.83% |
Interest Expense | $70.41M | $72.00M | $75.11M |
YoY Change | -2.21% | -6.16% | 24.48% |
% of Operating Profit | 35.19% | 38.64% | 40.03% |
Other Income/Expense, Net | -$70.29M | -$89.14M | -$95.89M |
YoY Change | -21.14% | 16.31% | 62.74% |
Pretax Income | $129.8M | $97.21M | $91.74M |
YoY Change | 33.53% | 3.27% | -13.38% |
Income Tax | $2.628M | $319.0K | $1.188M |
% Of Pretax Income | 2.02% | 0.33% | 1.3% |
Net Earnings | $127.2M | $96.89M | $96.89M |
YoY Change | 31.26% | 4.18% | 4.18% |
Net Earnings / Revenue | 42.18% | 34.18% | 33.69% |
Basic Earnings Per Share | $0.55 | $0.45 | $0.42 |
Diluted Earnings Per Share | $0.54 | $0.45 | $0.42 |
COMMON SHARES | |||
Basic Shares Outstanding | 232.8M shares | 215.1M shares | 214.7M shares |
Diluted Shares Outstanding | 233.5M shares | 215.4M shares | 215.3M shares |
Balance Sheet
Concept | 2021 Q1 | 2020 Q1 | 2019 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $520.7M | $559.5M | $25.60M |
YoY Change | -6.93% | 1746.53% | -97.8% |
Cash & Equivalents | $520.7M | $559.5M | $25.56M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $520.7M | $559.5M | $25.60M |
YoY Change | -6.93% | 1746.53% | -97.8% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $79.92M | $92.44M | $95.62M |
YoY Change | -13.55% | -6.16% | -6.65% |
Goodwill | $16.07M | $16.07M | |
YoY Change | 0.0% | -78.73% | |
Intangibles | $9.577M | $9.577M | |
YoY Change | 0.0% | 0.0% | |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $692.5M | $661.7M | $666.2M |
YoY Change | 4.65% | -2.56% | 2.97% |
Total Long-Term Assets | $8.493B | $8.340B | $8.479B |
YoY Change | 1.84% | -3.21% | 18.87% |
TOTAL ASSETS | |||
Total Short-Term Assets | $520.7M | $559.5M | $25.60M |
Total Long-Term Assets | $8.493B | $8.340B | $8.479B |
Total Assets | $9.013B | $8.899B | $8.505B |
YoY Change | 1.28% | 2.92% | 2.52% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $200.0K | $300.0K | $200.0K |
YoY Change | -33.33% | -57.14% | -89.47% |
Accrued Expenses | $235.6M | $270.0M | $302.9M |
YoY Change | -12.74% | -13.85% | 161.57% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $237.7M | $270.3M | $303.1M |
YoY Change | -12.06% | -14.11% | 157.52% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $5.757B | $6.256B | $5.749B |
YoY Change | -7.97% | 7.95% | 5.51% |
Other Long-Term Liabilities | $371.6M | $360.5M | $345.7M |
YoY Change | 3.08% | 9.57% | -6.67% |
Total Long-Term Liabilities | $6.129B | $6.616B | $6.095B |
YoY Change | -7.37% | 8.04% | 4.73% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $237.7M | $270.3M | $303.1M |
Total Long-Term Liabilities | $6.129B | $6.616B | $6.095B |
Total Liabilities | $6.367B | $6.887B | $6.398B |
YoY Change | -7.55% | 6.95% | 7.76% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.636B | -$1.941B | -$1.851B |
YoY Change | -15.7% | 11.42% | 16.48% |
Common Stock | $4.283B | $3.953B | $3.958B |
YoY Change | 8.34% | 0.09% | 0.26% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.647B | $2.012B | $2.012B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.013B | $8.899B | $8.505B |
YoY Change | 1.28% | 2.92% | 2.52% |
Cashflow Statement
Concept | 2021 Q1 | 2020 Q1 | 2019 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $127.2M | $96.89M | $96.89M |
YoY Change | 31.26% | 4.18% | 4.18% |
Depreciation, Depletion And Amortization | $61.54M | $59.58M | $57.30M |
YoY Change | 3.29% | -3.38% | 110.15% |
Cash From Operating Activities | $205.2M | $198.8M | $219.6M |
YoY Change | 3.23% | -10.22% | 3.29% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $606.0K | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | -100.0% | ||
Cash From Investing Activities | -$1.044M | -$646.0K | -$600.0K |
YoY Change | 61.61% | 85.63% | -89.29% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | $151.5M | $150.8M | |
YoY Change | 0.46% | 3.14% | |
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $33.00K | $661.2M | |
YoY Change | -100.0% | 437.43% | |
Cash From Financing Activities | -$161.4M | $334.6M | -218.1M |
YoY Change | -148.23% | -254.52% | -126.88% |
NET CHANGE | |||
Cash From Operating Activities | $205.2M | $198.8M | 219.6M |
Cash From Investing Activities | -$1.044M | -$646.0K | -600.0K |
Cash From Financing Activities | -$161.4M | $334.6M | -218.1M |
Net Change In Cash | $34.29M | $532.7M | 900.0K |
YoY Change | -93.56% | 11605.6% | -99.91% |
FREE CASH FLOW | |||
Cash From Operating Activities | $205.2M | $198.8M | $219.6M |
Capital Expenditures | $606.0K | $0.00 | $0.00 |
Free Cash Flow | $204.6M | $198.8M | $219.6M |
YoY Change | 2.93% | -10.22% | 3.3% |
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2628000 | USD |
CY2020Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
319000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.55 | |
CY2020Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.45 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.54 | |
CY2020Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.45 | |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2675018000 | USD |
CY2020Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
-95000 | USD |
CY2020Q3 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-3968000 | USD |
CY2021Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.65 | |
CY2020Q3 | us-gaap |
Dividends
Dividends
|
151496000 | USD |
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2646643000 | USD |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2074245000 | USD |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
310000 | USD |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
|
-8348000 | USD |
CY2020Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.70 | |
CY2019Q3 | us-gaap |
Dividends
Dividends
|
150796000 | USD |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2012305000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
61544000 | USD |
CY2020Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
59583000 | USD |
CY2021Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2470000 | USD |
CY2020Q1 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2770000 | USD |
CY2021Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | USD |
CY2020Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-1000 | USD |
CY2021Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
188000 | USD |
CY2020Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
38000 | USD |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5788000 | USD |
CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4235000 | USD |
CY2021Q1 | us-gaap |
Straight Line Rent Adjustments
StraightLineRentAdjustments
|
-828000 | USD |
CY2020Q1 | us-gaap |
Straight Line Rent Adjustments
StraightLineRentAdjustments
|
8644000 | USD |
CY2021Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-17329000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-2907000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-6467000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-128000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-667000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
735000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
1556000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
9273000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
16869000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-4780000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-10667000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
|
868000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
|
-134000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
1880000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
0 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
520740000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-1893000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-4133000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
205208000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
198785000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
606000 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
0 | USD |
CY2021Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
438000 | USD |
CY2020Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
646000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1044000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-646000 | USD |
CY2021Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
151496000 | USD |
CY2020Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
150796000 | USD |
CY2021Q1 | glpi |
Proceeds Repayments Relatedto Tax Withholding On Restricted Stock Award Vestings Netof Proceedsfrom Exerciseof Options
ProceedsRepaymentsRelatedtoTaxWithholdingOnRestrictedStockAwardVestingsNetofProceedsfromExerciseofOptions
|
-9756000 | USD |
CY2020Q1 | glpi |
Proceeds Repayments Relatedto Tax Withholding On Restricted Stock Award Vestings Netof Proceedsfrom Exerciseof Options
ProceedsRepaymentsRelatedtoTaxWithholdingOnRestrictedStockAwardVestingsNetofProceedsfromExerciseofOptions
|
-12583000 | USD |
CY2021Q1 | glpi |
Atm Programofferingcosts
ATMProgramofferingcosts
|
95000 | USD |
CY2020Q1 | glpi |
Atm Programofferingcosts
ATMProgramofferingcosts
|
-310000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
1174600000 | USD |
CY2021Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
33000 | USD |
CY2020Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
661206000 | USD |
CY2021Q1 | glpi |
Paymentsof Premiumand Related Costson Tenderof Senior Unsecured Notes
PaymentsofPremiumandRelatedCostsonTenderofSeniorUnsecuredNotes
|
0 | USD |
CY2020Q1 | glpi |
Paymentsof Premiumand Related Costson Tenderof Senior Unsecured Notes
PaymentsofPremiumandRelatedCostsonTenderofSeniorUnsecuredNotes
|
15742000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-161380000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
334583000 | USD |
CY2021Q1 | glpi |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Within Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectWithinAssetsHeldForSale
|
42784000 | USD |
CY2020Q1 | glpi |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Within Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectWithinAssetsHeldForSale
|
532722000 | USD |
CY2021Q1 | glpi |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseAssetsHeldForSale
|
-8495000 | USD |
CY2020Q1 | glpi |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Assets Held For Sale
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseAssetsHeldForSale
|
0 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
34289000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
532722000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
486451000 | USD |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
26823000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
559545000 | USD |
CY2021Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Business and Operations<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gaming and Leisure Properties, Inc. ("GLPI") is a self-administered and self-managed Pennsylvania real estate investment trust ("REIT"). GLPI (together with its subsidiaries, the "Company") was incorporated on February 13, 2013, as a wholly-owned subsidiary of Penn National Gaming, Inc. (NASDAQ: PENN) ("Penn"). On November 1, 2013, Penn contributed to GLPI, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with Penn’s real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville (which are referred to as the "TRS Properties") and then spun-off GLPI to holders of Penn's common and preferred stock in a tax-free distribution (the "Spin-Off"). The assets and liabilities of GLPI were recorded at their respective historical carrying values at the time of the Spin-Off in accordance with the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 505-60 - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Spinoffs and Reverse Spinoffs ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASC 505"</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">).</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company elected on its United States ("U.S.") federal income tax return for its taxable year that began on January 1, 2014 to be treated as a REIT and GLPI, together with its indirect wholly-owned subsidiary, GLP Holdings, Inc., jointly elected to treat each of GLP Holdings, Inc., Louisiana Casino Cruises, Inc. (d/b/a Hollywood Casino Baton Rouge) and Penn Cecil Maryland, Inc. (d/b/a Hollywood Casino Perryville) as a "taxable REIT subsidiary" ("TRS") effective on the first day of the first taxable year of GLPI as a REIT. In addition, during 2020, the Company and Tropicana LV, LLC, a wholly owned subsidiary of the Company which holds the real estate of Tropicana Las Vegas Casino Hotel Resort ("Tropicana Las Vegas") , elected to treat Tropicana LV, LLC as a TRS, which together with the TRS Properties and GLP Holdings, Inc. is the Company's TRS segment (the "TRS Segment"). In connection with the Spin-Off, Penn allocated its accumulated earnings and profits (as determined for U.S. federal income tax purposes) for periods prior to the consummation of the Spin-Off between Penn and GLPI. In connection with its election to be taxed as a REIT for U.S. federal income tax purposes, GLPI declared a special dividend to its shareholders to distribute any accumulated earnings and profits relating to the real property assets and attributable to any pre-REIT years, including any earnings and profits allocated to GLPI in connection with the Spin-Off, to comply with certain REIT qualification requirements. </span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. As of March 31, 2021, GLPI’s portfolio consisted of interests in 48 gaming and related facilities, including the TRS Properties, the real property associated with 33 gaming and related facilities operated by Penn, the real property associated with 7 gaming and related facilities operated by Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars"), the real property associated with 4 gaming and related facilities operated by Boyd Gaming Corporation (NYSE: BYD) ("Boyd") and the real property associated with property operated by Casino Queen Holding Company Inc. ("Casino Queen") in East St. Louis, Illinois. These facilities, including our corporate headquarters building, are geographically diversified across 16 states and contain approximately 24.3 million square feet. As of March 31, 2021, the Company's properties were 100% occupied. GLPI expects to continue growing its portfolio by pursuing opportunities to acquire additional gaming facilities to lease to gaming operators under prudent terms.</span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Penn Master Lease and Casino Queen Lease</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the Spin-Off, GLPI owns substantially all of Penn’s former real property assets (as of the consummation of the Spin-Off) and leases back most of those assets to Penn for use by its subsidiaries, under a unitary master lease, a triple-net operating lease the term of which expires October 31, 2033, with no purchase option, followed by three remaining 5-year renewal options (exercisable by the tenant) on the same terms and conditions (the "Penn Master Lease"), and GLPI also owns and operates the TRS Properties. GLPI leases the Casino Queen property in East St. Louis back to its operator on a triple-net basis on terms similar to those in the Penn Master Lease (the "Casino Queen Lease"). </span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Amended Pinnacle Master Lease, Boyd Master Lease and Belterra Park Lease</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2016, the Company acquired substantially all of the real estate assets of Pinnacle Entertainment, Inc. ("Pinnacle") for approximately $4.8 billion. GLPI originally leased these assets back to Pinnacle, under a unitary triple-net lease the term of which expires on April 30, 2031, with no purchase option, followed by four remaining 5-year renewal options (exercisable by the tenant) on the same terms and conditions (the "Pinnacle Master Lease"). On October 15, 2018, the Company completed its previously announced transactions with Penn, Pinnacle and Boyd to accommodate Penn's acquisition of the majority of Pinnacle's operations, pursuant to a definitive agreement and plan of merger between Penn and Pinnacle, dated December 17, 2017 (the "Penn-Pinnacle Merger"). Concurrent with the Penn-Pinnacle Merger, the Company amended the </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pinnacle Master Lease to allow for the sale of the operating assets of Ameristar Casino Hotel Kansas City, Ameristar Casino Resort Spa St. Charles and Belterra Casino Resort from Pinnacle to Boyd (the "Amended Pinnacle Master Lease") and entered into a new unitary triple-net master lease agreement with Boyd (the "Boyd Master Lease") for these properties on terms similar to the Company’s Amended Pinnacle Master Lease. The Boyd Master Lease has an initial term of 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease and expiring April 30, 2026), with no purchase option, followed by five 5-year renewal options (exercisable by the tenant) on the same terms and conditions. The Company also purchased the real estate assets of Plainridge Park Casino ("Plainridge Park") from Penn for $250.0 million, exclusive of transaction fees and taxes, and added this property to the Amended Pinnacle Master Lease. The Amended Pinnacle Master Lease was assumed by Penn at the consummation of the Penn-Pinnacle Merger. The Company also entered into a mortgage loan agreement with Boyd in connection with Boyd's acquisition of Belterra Park Gaming & Entertainment Center ("Belterra Park"), whereby the Company loaned Boyd $57.7 million (the "Belterra Park Loan"). In May 2020, the Company acquired the real estate of Belterra Park in satisfaction of the Belterra Park Loan, subject to a long-term lease (the "Belterra Park Lease") with a Boyd affiliate operating the property.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Belterra Park Lease rent terms are consistent with the Boyd Master Lease.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The annual rent is comprised of a fixed component, part of which is subject to an annual escalator of up to 2% if certain rent coverage ratio thresholds are met and a component that is based on the performance of the facilities which is adjusted, subject to certain floors, every two years to an amount equal to 4% of the average annual net revenues of Belterra Park during the preceding two years in excess of a contractual baseline. </span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">The Meadows Lease</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The real estate assets of the Meadows Racetrack and Casino are leased to Penn pursuant to a single property triple-net lease (the "Meadows Lease"). The Meadows Lease commenced on September 9, 2016 and has an initial term of 10 years, with no purchase option, and the option to renew for three successive 5-year terms and one 4-year term (exercisable by the tenant) on the same terms and conditions. The Meadows Lease contains a fixed component, subject to annual escalators, and a component that is based on the performance of the facility, which is reset every two years to an amount determined by multiplying (i) 4% by (ii) the average annual net revenues of the facility for the trailing two-year period. The Meadows Lease contains an annual escalator provision for up to 5% of the base rent, if certain rent coverage ratio thresholds are met, which remains at 5% until the earlier of ten years or the year in which total rent is $31 million, at which point the escalator will be reduced to 2% annually thereafter. </span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Amended and Restated Caesars Master Lease</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2018, the Company closed its previously announced transaction to acquire certain real property assets from Tropicana Entertainment Inc. ("Tropicana") and certain of its affiliates pursuant to a Purchase and Sale Agreement dated April 15, 2018 between Tropicana and GLP Capital L.P, ("GLP Capital"), the operating partnership of GLPI, which was subsequently amended on October 1, 2018 (as amended, the "Amended Real Estate Purchase Agreement"). Pursuant to the terms of the Amended Real Estate Purchase Agreement, the Company acquired the real estate assets of Tropicana Atlantic City, Tropicana Evansville, Tropicana Laughlin, Trop Casino Greenville and the Belle of Baton Rouge (the "GLP Assets") from Tropicana for an aggregate cash purchase price of $964.0 million, exclusive of transaction fees and taxes (the "Tropicana Acquisition"). Concurrent with the Tropicana Acquisition, Eldorado Resorts, Inc. (now doing business as Caesars) acquired the operating assets of these properties from Tropicana pursuant to an Agreement and Plan of Merger dated April 15, 2018 by and among Tropicana, GLP Capital, Caesars and a wholly-owned subsidiary of Caesars and leased the GLP Assets from the Company pursuant to the terms of a new unitary triple-net master lease with an initial term of 15 years, with no purchase option, followed by four successive 5-year renewal periods (exercisable by the tenant) on the same terms and conditions (the "Caesars Master Lease"). On June 15, 2020, the Company amended and restated the Caesars Master Lease (as amended, the "Amended and Restated Caesars Master Lease") to, (i) extend the initial term of 15 years to 20 years, with renewals of up to an additional 20 years at the option of Caesars, (ii) remove the variable rent component in its entirety commencing with the third lease year, (iii) in the third lease year increase annual land base rent to approximately $23.6 million and annual building base rent to approximately $62.1 million, (iv) provide fixed escalation percentages that delay the escalation of building base rent until the commencement of the fifth lease year with building base rent increasing annually by 1.25% in the fifth and sixth lease year, 1.75% in the seventh and eighth lease years and 2% in the ninth lease year and each lease year thereafter, (v) subject to the satisfaction of certain conditions, permit Caesars to elect to replace the Tropicana Evansville and/or Tropicana Greenville properties under the Amended and Restated Caesars Master Lease with one or more of Caesars Gaming Scioto Downs, The Row in Reno, Isle Casino Racing Pompano Park, Isle Casino Hotel – Black Hawk, Lady Luck Casino – Black Hawk, Isle Casino Waterloo ("Waterloo"), Isle Casino Bettendorf ("Bettendorf") or Isle of Capri Casino Boonville, provided that the aggregate value of such new property, individually or collectively, is at least equal to the value of Tropicana Evansville or Tropicana Greenville, as applicable (vi) permit Caesars to elect to sell its interest in Belle of Baton Rouge and sever it from the Amended and Restated Caesars Master Lease (with no change to the rent obligation to the Company), subject to the satisfaction of certain conditions, and (vii) provide certain relief under the operating, capital expenditure and financial covenants thereunder </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the event of facility closures due to pandemics, governmental restrictions and certain other instances of unavoidable delay. The effectiveness of the Amended and Restated Caesars Master Lease was subject to the review of certain gaming regulatory agencies and the expiration of applicable gaming regulatory advance notice periods which were received on July 23, 2020. On December 18, 2020, the Company and Caesars completed an Exchange Agreement (the "Exchange Agreement") with subsidiaries of Caesars in which Caesars transferred to the Company the real estate assets of Waterloo and Bettendorf in exchange for the transfer by the Company to Caesars of the real property assets of Tropicana Evansville, plus a cash payment of $5.7 million. This resulted in a non-cash gain of $41.4 million in the fourth quarter of 2020, which represented the difference between the fair value of the properties received compared to the carrying value of Tropicana Evansville and the cash payment made. In connection with the Exchange Agreement, the annual building base rent was increased to $62.5 million and the annual land component was increased to$23.7 million </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Lumière Place Lease</span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2018, the Company entered into a loan agreement with Caesars in connection with Caesars’s acquisition of Lumière Place Casino ("Lumière Place"), whereby the Company loaned Caesars $246.0 million (the "CZR loan"). The CZR loan bore interest at a rate equal to (i) 9.09% until October 1, 2019 and (ii) 9.27% until its maturity. On the one-year anniversary of the CZR loan, the mortgage evidenced by a deed of trust on the Lumière Place property terminated and the loan became unsecured. On June 24, 2020, the Company received approval from the Missouri Gaming Commission to own the Lumière Place property in satisfaction of the CZR loan. On September 29, 2020, the transaction closed and we entered into a new triple net lease with Caesars (the "Lumière Place Lease") the initial term of which expires on October 31, 2033, with 4 separate renewal options of five years each, exercisable at the tenant's option. The Lumière Place Lease's rent is subject to an annual escalator of up to 2% if certain rent coverage ratio thresholds are met. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Tropicana Las Vegas</span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 16, 2020, the Company and certain of its subsidiaries acquired the real property associated with the Tropicana Las Vegas from Penn in exchange for $307.5 million of rent credits to be applied against future rent obligations. This asset has been placed in our TRS Segment. See Note 7 for further details related to this transaction. Additionally, see Note 18 for the anticipated sale of the building and sale-lease back of the land for this asset.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Morgantown Lease </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2020, the Company and Penn closed on their previously announced transaction whereby GLPI acquired the land under Penn's gaming facility under construction in Morgantown, Pennsylvania in exchange for $30.0 million in rent credits which were fully utilized by Penn in the fourth quarter of 2020. The Company is leasing the land back to an affiliate of Penn for an initial annual rent of $3.0 million, provided, however, that (i) on the opening date and on each anniversary thereafter the rent shall be increased by 1.5% annually (on a prorated basis for the remainder of the lease year in which the gaming facility opens) for each of the following three lease years and (ii) commencing on the fourth anniversary of the opening date and for each anniversary thereafter, (a) if the Consumer Price Index (the "CPI") increase is at least 0.5% for any lease year, the rent for such lease year shall increase by 1.25% of rent as of the immediately preceding lease year, and (b) if the CPI increase is less than 0.5% for such lease year, then the rent shall not increase for such lease year subject to escalation provisions following the opening of the property (the "Morgantown Lease"). </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">COVID-19</span></div>In the first quarter of 2020, it became clear that there was a global outbreak of a new strain of novel coronavirus COVID-19. The global, domestic and local response to the COVID-19 outbreak continues to evolve. Responses to the COVID-19 outbreak have included mandates from federal, state, and/or local authorities that required temporary closures of or imposed limitations on the operations of non-essential businesses. All of the Company's tenants' casino operations, in addition to the Company's two TRS Properties, were closed in mid-March 2020. Our properties began reopening at limited capacity in May 2020 and by early July 2020 nearly all had resumed operations at limited capacity. However, in the fourth quarter of 2020, increased spread of COVID-19 led some jurisdictions to impose temporary closures once again. As of the date of this filing, none of our properties are closed. | |
CY2021Q1 | glpi |
Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
|
48 | property |
CY2021Q1 | us-gaap |
Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
|
16 | state |
CY2020Q1 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
24300000 | sqft |
CY2021Q1 | glpi |
Realestateoccupancypercentage
Realestateoccupancypercentage
|
1 | |
CY2021Q1 | us-gaap |
Number Of Real Estate Properties
NumberOfRealEstateProperties
|
45 | property |
CY2021Q1 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
8698098000 | USD |
CY2020Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
8698098000 | USD |
CY2021Q1 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
1467329000 | USD |
CY2020Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
1410940000 | USD |
CY2021Q1 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
7230769000 | USD |
CY2020Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
7287158000 | USD |
CY2021Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
177768000 | USD |
CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
177114000 | USD |
CY2021Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
97849000 | USD |
CY2020Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
96496000 | USD |
CY2021Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
79919000 | USD |
CY2020Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
80618000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
765932000 | USD |
CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
769197000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
8310000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
11082000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
11081000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
11034000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
10984000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
569957000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
622448000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
470544000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
151904000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2928000 | USD |
CY2020Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
3695000 | USD |
CY2021Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1010000 | USD |
CY2020Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1462000 | USD |
CY2021Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
327000 | USD |
CY2020Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
227000 | USD |
CY2021Q1 | us-gaap |
Lease Cost
LeaseCost
|
7108000 | USD |
CY2020Q1 | us-gaap |
Lease Cost
LeaseCost
|
8404000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P56Y2M23D | |
CY2021Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0673 | |
CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
404000 | USD |
CY2020Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
488000 | USD |
CY2021Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | USD |
CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
185000 | USD |
CY2021Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
827000 | USD |
CY2020Q4 | us-gaap |
Capital Lease Obligations
CapitalLeaseObligations
|
860000 | USD |
CY2021Q1 | glpi |
Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
|
5799846000 | USD |
CY2020Q4 | glpi |
Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
|
5799879000 | USD |
CY2021Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
42721000 | USD |
CY2020Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
45190000 | USD |
CY2021Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
|
5757125000 | USD |
CY2020Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
|
5754689000 | USD |
CY2021Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
|
137000 | USD |
CY2021Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Years Two And Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearsTwoAndThree
|
924313000 | USD |
CY2021Q1 | us-gaap |
Longterm Debt And Capital Lease Obligations Maturities Repayments Of Principal In Years Four And Five
LongtermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearsFourAndFive
|
1250324000 | USD |
CY2021Q1 | us-gaap |
Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
|
3625072000 | USD |
CY2021Q1 | glpi |
Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
|
5799846000 | USD |
CY2021Q1 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
400000 | USD |
CY2021Q1 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
1174600000 | USD |
CY2021Q1 | glpi |
Number Of Miles
NumberOfMiles
|
60 | mi |
CY2021Q1 | glpi |
Operating Lease Cash Rent Received
OperatingLeaseCashRentReceived
|
259853000 | USD |
CY2021Q1 | us-gaap |
Straight Line Rent Adjustments
StraightLineRentAdjustments
|
-828000 | USD |
CY2021Q1 | glpi |
Operating Lease Ground Lease Income
OperatingLeaseGroundLeaseIncome
|
3111000 | USD |
CY2021Q1 | glpi |
Operating Lease Other Rental Revenue
OperatingLeaseOtherRentalRevenue
|
50000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Lease Income
OperatingLeaseLeaseIncome
|
263842000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
|
761691000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustments Current
StraightLineRentAdjustmentsCurrent
|
2484000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable Current
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableCurrent
|
7097000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognized Current
OperatingLeasesFutureIncometoBeRecognizedCurrent
|
771272000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
|
987785000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustmentsin Two Years
StraightLineRentAdjustmentsinTwoYears
|
22180000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable In Two Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInTwoYears
|
9468000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognizedin Two Years
OperatingLeasesFutureIncometoBeRecognizedinTwoYears
|
1019433000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
|
962333000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustmentsin Three Years
StraightLineRentAdjustmentsinThreeYears
|
30927000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable In Three Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInThreeYears
|
9473000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognizedin Three Years
OperatingLeasesFutureIncometoBeRecognizedinThreeYears
|
1002733000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
|
930017000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustmentsin Four Years
StraightLineRentAdjustmentsinFourYears
|
30053000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable In Four Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFourYears
|
9480000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognizedin Four Years
OperatingLeasesFutureIncometoBeRecognizedinFourYears
|
969550000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
|
931378000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustmentsin Five Years
StraightLineRentAdjustmentsinFiveYears
|
28927000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable In Five Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFiveYears
|
9486000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognizedin Five Years
OperatingLeasesFutureIncometoBeRecognizedinFiveYears
|
969791000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
|
12488695000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustments Thereafter
StraightLineRentAdjustmentsThereafter
|
217662000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable Thereafter
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableThereafter
|
78558000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognized Thereafter
OperatingLeasesFutureIncometoBeRecognizedThereafter
|
12784915000 | USD |
CY2021Q1 | us-gaap |
Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
|
17061899000 | USD |
CY2021Q1 | glpi |
Straight Line Rent Adjustments Net
StraightLineRentAdjustmentsNet
|
332233000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Minimum Base Ground Payments Receivable
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivable
|
123562000 | USD |
CY2021Q1 | glpi |
Operating Leases Future Incometo Be Recognized
OperatingLeasesFutureIncometoBeRecognized
|
17517694000 | USD |
CY2020Q1 | us-gaap |
Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
|
7300000 | USD |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
232775000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
215090000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
233465000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
215449000 | shares |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2021Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
157000 | USD |
CY2020Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
144000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
127027000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
96750000 | USD |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
232775000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
215090000 | shares |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.55 | |
CY2020Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.45 | |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
233465000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
215449000 | shares |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.54 | |
CY2020Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.45 | |
CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
228000 | shares |
CY2020Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.65 | |
CY2019Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
151308000 | USD |
CY2019Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.70 | |
CY2018Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
150574000 | USD |
CY2020Q1 | us-gaap |
Dividends Share Based Compensation
DividendsShareBasedCompensation
|
200000 | USD |
CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2628000 | USD |
CY2020Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
319000 | USD |
CY2021Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | segment |
CY2021Q1 | us-gaap |
Revenues
Revenues
|
301543000 | USD |
CY2020Q1 | us-gaap |
Revenues
Revenues
|
283482000 | USD |
CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
200101000 | USD |
CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
186350000 | USD |
CY2021Q1 | us-gaap |
Interest Expense
InterestExpense
|
70413000 | USD |
CY2020Q1 | us-gaap |
Interest Expense
InterestExpense
|
72004000 | USD |
CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
129812000 | USD |
CY2020Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
97213000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
127184000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
96894000 | USD |
CY2021Q1 | us-gaap |
Depreciation
Depreciation
|
58701000 | USD |
CY2020Q1 | us-gaap |
Depreciation
Depreciation
|
56563000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
606000 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | USD |
CY2021Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
438000 | USD |
CY2020Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
646000 | USD |
CY2021Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
24000 | USD |
CY2020Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | USD |
CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
58645000 | USD |
CY2020Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
52339000 | USD |