2023 Q1 Form 10-K Financial Statement

#000157596523000007 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $355.2M $336.4M $1.312B
YoY Change 12.78% 12.76% 7.84%
Cost Of Revenue $12.01M $11.87M $0.00
YoY Change -34.12% -100.0%
Gross Profit $343.2M $324.5M $1.312B
YoY Change 8.96% 15.77% 12.75%
Gross Profit Margin 96.62% 96.47% 100.0%
Selling, General & Admin $16.45M $11.32M $51.32M
YoY Change 4.56% -25.93% -16.21%
% of Gross Profit 4.79% 3.49% 3.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.84M $59.71M $254.5M
YoY Change 5.72% 0.52% 0.99%
% of Gross Profit 20.06% 18.4% 19.41%
Operating Expenses $76.35M $49.06M $296.9M
YoY Change -28.98% -40.82% -2.94%
Operating Profit $266.8M $275.5M $1.030B
YoY Change 33.56% 39.53% 22.35%
Interest Expense $81.36M -$75.25M $309.3M
YoY Change 4.41% 4.85% 9.28%
% of Operating Profit 30.49% -27.32% 30.03%
Other Income/Expense, Net -$77.66M -$309.6M
YoY Change -0.31% 10.82%
Pretax Income $189.2M $200.2M $720.3M
YoY Change 55.2% 47.02% 28.08%
Income Tax $518.0K $624.0K $17.06M
% Of Pretax Income 0.27% 0.31% 2.37%
Net Earnings $183.4M $194.0M $684.7M
YoY Change 53.73% 62.2% 28.2%
Net Earnings / Revenue 51.62% 57.66% 52.2%
Basic Earnings Per Share $0.70 $2.71
Diluted Earnings Per Share $0.70 $0.74 $2.70
COMMON SHARES
Basic Shares Outstanding 262.4M shares 257.5M shares 252.7M shares
Diluted Shares Outstanding 262.7M shares 253.8M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.822M $239.1M $239.1M
YoY Change -95.63% -67.0% -67.0%
Cash & Equivalents $6.822M $239.1M $239.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.822M $239.1M $239.1M
YoY Change -95.63% -67.0% -67.0%
LONG-TERM ASSETS
Property, Plant & Equipment $8.500B $7.889B $7.889B
YoY Change 7.54% 60693.54% -1.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $649.5M $652.8M $652.8M
YoY Change -12.28% -12.54% -12.54%
Total Long-Term Assets $11.11B $10.69B $10.69B
YoY Change 5.16% 7.28% 7.28%
TOTAL ASSETS
Total Short-Term Assets $6.822M $239.1M $239.1M
Total Long-Term Assets $11.11B $10.69B $10.69B
Total Assets $11.12B $10.93B $10.93B
YoY Change 3.69% 2.24% 2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.931M $6.561M $6.561M
YoY Change 91.2% 742.23% 742.23%
Accrued Expenses $298.8M $271.0M $271.0M
YoY Change 8.82% -16.7% -16.7%
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 $305.7M $277.6M $277.6M
YoY Change 9.89% -16.21% -16.21%
LONG-TERM LIABILITIES
Long-Term Debt $6.345B $6.182B $6.182B
YoY Change -3.98% -6.41% -6.41%
Other Long-Term Liabilities $346.8M $352.5M $352.5M
YoY Change -5.06% -3.0% -3.0%
Total Long-Term Liabilities $6.692B $6.535B $6.535B
YoY Change -4.04% -6.23% -6.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $305.7M $277.6M $277.6M
Total Long-Term Liabilities $6.692B $6.535B $6.535B
Total Liabilities $6.998B $6.812B $7.152B
YoY Change -3.5% -6.68% -4.7%
SHAREHOLDERS EQUITY
Retained Earnings -$1.870B -$1.798B
YoY Change 2.55% 1.51%
Common Stock $5.635B $5.576B
YoY Change 13.79% 12.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.765B $3.778B $3.778B
YoY Change
Total Liabilities & Shareholders Equity $11.12B $10.93B $10.93B
YoY Change 3.69% 2.24% 2.24%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $183.4M $194.0M $684.7M
YoY Change 53.73% 62.2% 28.2%
Depreciation, Depletion And Amortization $68.84M $59.71M $254.5M
YoY Change 5.72% 0.52% 0.99%
Cash From Operating Activities $241.2M $220.7M $920.1M
YoY Change 3.43% 6.97% 14.48%
INVESTING ACTIVITIES
Capital Expenditures $422.1M $7.529M $374.2M
YoY Change -17533.95% -158.22% 2586.7%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $19.66M
YoY Change -100.0% -100.0% -103.73%
Cash From Investing Activities -$422.1M -$7.529M -$354.5M
YoY Change 221.17% -98.69% -65.61%
FINANCING ACTIVITIES
Cash Dividend Paid $254.8M $770.9M
YoY Change 10.58% 21.61%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $500.0M $1.271B
YoY Change 18.23% 249.78%
Cash From Financing Activities -$51.37M -33.07M -$1.051B
YoY Change -92.34% -104.95% -337.24%
NET CHANGE
Cash From Operating Activities $241.2M 220.7M $920.1M
Cash From Investing Activities -$422.1M -7.529M -$354.5M
Cash From Financing Activities -$51.37M -33.07M -$1.051B
Net Change In Cash -$232.3M 180.1M -$485.5M
YoY Change -59.15% -40.25% -303.87%
FREE CASH FLOW
Cash From Operating Activities $241.2M $220.7M $920.1M
Capital Expenditures $422.1M $7.529M $374.2M
Free Cash Flow -$180.9M $213.1M $546.0M
YoY Change -176.78% -2.77% -30.88%

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Business and Basis of Presentation<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-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%">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 Entertainment, Inc., formerly known as 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-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 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 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. In addition, during 2020, the Company and Tropicana LV, LLC, a wholly owned subsidiary of the Company that at the time held the real estate of the Tropicana Las Vegas Casino Hotel Resort ("Tropicana Las Vegas"), elected to treat Tropicana LV, LLC as a TRS. Further, as partial consideration for the transactions with The Cordish Companies ("Cordish") described below, GLP Capital, L.P., the operating partnership of GLPI ("GLP Capital") issued 7,366,683 newly-issued operating partnership units ("OP Units") to affiliates of Cordish. OP Units are exchangeable for common shares of the Company on a one-for-one basis, subject to certain terms and conditions. Such issuance of OP Units to Cordish in exchange for its contribution of certain real property assets resulted in GLP Capital becoming treated as a partnership for income tax purposes, with GLPI being deemed to contribute substantially all of the assets and liabilities of GLP Capital in exchange for the general partnership and a majority of the limited partnership interests, and a minority limited partnership interest being owned by Cordish (the "UPREIT Transaction"). In advance of the UPREIT Transaction, the Company, together with GLP Financing II, Inc. jointly elected for GLP Financing II, Inc. to be treated as a TRS effective December 23, 2021. </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:115%">On July 1, 2021, the Company sold the operations of Hollywood Casino Perryville to PENN and is leasing the real estate to PENN pursuant to a standalone lease. On December 17, 2021, the Company sold the operations of Hollywood Casino Baton Rouge to Casino Queen Holding Company ("Casino Queen") and is leasing the real estate to Casino Queen pursuant to the Casino Queen Master Lease as described below. On December 17, 2021, GLPI declared a special dividend to the Company's shareholders to distribute the accumulated earnings and profits attributable to these sales. In 2021, as a result of the sale of the operations of Hollywood Casino Perryville and Hollywood Casino Baton Rouge, GLP Holdings, Inc. was merged into GLP Capital. </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 December 31, 2022, GLPI’s portfolio consisted of interests in 57 gaming and related facilities, the real property associated with 34 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"), the real property associated with 7 gaming and related facilities operated by Bally's Corporation (NYSE: BALY) ("Bally's) the real property associated with 3 gaming and related facilities operated by Cordish and the real property associated with 2 gaming and related facilities operated by Casino Queen Holding Company Inc. ("Casino Queen"). These facilities, including our corporate headquarters building, are geographically diversified across 17 states and contain approximately 27.8 million square feet. As of December 31, 2022, 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="margin-top:8pt;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%">PENN Master Lease </span></div><div style="text-align:justify"><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%">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 pursuant to a unitary master lease (the "PENN Master Lease"). The PENN Master Lease is 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. See Note 12 for a discussion regarding such renewal options. Additionally, see Note 18 for a discussion related to the recent modification of the PENN Master Lease as well as the creation of a new master lease with PENN. </span></div><div style="margin-bottom:8pt;margin-top:8pt;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%">Amended Pinnacle Master Lease, Boyd Master Lease and Belterra Park Lease</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:24.75pt"><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 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 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 &amp; 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. 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="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Meadows Lease</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%">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 a maximum of 2% annually thereafter. As described in Note 18, the Meadows Lease was terminated during 2023 and the real estate associated with the property became part of a new master lease with PENN.</span></div><div style="text-align:justify"><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%">Second Amended and Restated Caesars Master Lease</span></div><div style="text-align:justify"><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, 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 </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%">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"). </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 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 years, 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 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 and approval of certain gaming regulatory agencies and the expiration of applicable gaming regulatory advance notice periods which conditions were satisfied on July 23, 2020. </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 December 18, 2020, the Company and Caesars entered into an amendment to the Amended and Restated Caesars Master Lease (as amended, the "Second Amended and Restated Caesars Master Lease") in connection with the completion of 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. 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. The Exchange Agreement 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.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline"> </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-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%">Horseshoe St. Louis Lease</span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><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, now known as Horseshoe St. Louis ("Horseshoe St. Louis"), 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 Horseshoe St. Louis property terminated and the loan became unsecured. On June 24, 2020, the Company received approval from the Missouri Gaming Commission to own the Horseshoe St. Louis property in satisfaction of the CZR loan.</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%">On September 29, 2020, the transaction closed and we entered into a new triple net lease with Caesars (the "Horseshoe St. Louis Lease") the initial term of which expires on October 31, 2033 with four separate renewal options of five years each, exercisable at the tenant's option.</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 Horseshoe St. Louis Lease rent terms were adjusted on December 1, 2021 such that the annual escalator is now fixed at 1.25% for the second through fifth lease years, increasing to 1.75% for the sixth and seventh lease years and thereafter increasing by 2.0% for the remainder of the lease.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </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%">Bally's Master Lease</span></div><div style="text-align:justify"><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 June 3, 2021, the Company completed its previously announced transaction pursuant to which a subsidiary of Bally's acquired 100% of the equity interests in the Caesars subsidiary that currently operates Tropicana Evansville and the Company reacquired the real property assets of Tropicana Evansville from Caesars for a cash purchase price of approximately $340.0 million. In addition, the Company purchased the real estate assets of Dover Downs Hotel &amp; Casino from Bally's for a cash purchase price of approximately $144.0 million. The real estate assets of these two facilities were added to a new triple net master lease (the "Bally's Master Lease") which has an initial term of 15 years, with no purchase option, followed by four five-year renewal options (exercisable by the tenant) on the same terms and conditions. </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 1, 2022, the Company completed the previously announced acquisition from Bally's of the land and real estate assets of Bally's three Black Hawk Casinos in Black Hawk, Colorado and Bally's Quad Cities Casino &amp; Hotel in Rock Island, Illinois for $150 million in total consideration. These properties were added to the existing Bally's Master Lease and the initial rent for the lease was increased by $12.0 million on an annual basis, subject to the escalation clauses described above. </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 January 3, 2023, the Company closed its previously announced acquisition from Bally's of the land and real estate assets of Bally's Hard Rock Hotel &amp; Casino ("Bally's Biloxi") and Bally's Tiverton Casino &amp; Hotel ("Bally's Tiverton") for $635.0 million in total consideration, inclusive of $15 million in the form of OP units. These properties were added to the Company's existing Master Lease with Bally's. The initial annual rent for the lease was increased by $48.5 million on an annual basis, subject to contractual escalations based on the Consumer Price Index ("CPI"), with a 1% floor and 2% ceiling, subject to the CPI meeting a 0.5% threshold. </span></div><div><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%">In connection with GLPI’s commitment to consummate the Bally’s acquisitions, it also agreed to pre-fund, at Bally’s election, a deposit of up to $200.0 million, which was funded in September 2022 and recorded in Other assets on the Consolidated Balance Sheet at December 31, 2022. This amount was credited to GLPI along with a $9.0 million transaction fee payable at closing which occurred on January 3, 2023. The Company continues to have the option, subject to receipt by Bally's of required consents, to acquire the real property assets of Bally's Twin River Lincoln Casino Resort ("Bally's Lincoln") prior to December 31, 2024 for a purchase price of $771.0 million and additional rent of $58.8 million. See Note 18 for further details.</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%">Tropicana Las Vegas Lease</span></div><div style="margin-top:8pt;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 closed on its previously announced transaction to acquire the real property associated with the Tropicana Las Vegas Hotel &amp; Casino, Inc. ("Tropicana Las Vegas") from PENN in exchange for rent credits of $307.5 million, which were applied against future rent obligations due under the parties' existing leases during 2020. </span></div><div style="margin-top:8pt;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 September 26, 2022, Bally’s acquired both GLPI’s building asset and PENN's outstanding equity interests in Tropicana Las Vegas for an aggregate cash acquisition price, net of fees and expenses, of approximately $145 million, which resulted in a pre-tax gain of $67.4 million, $52.8 million after-tax. GLPI retained ownership of the land and concurrently entered into a ground lease for an initial term of 50 years (with a maximum term of 99 years inclusive of tenant renewal options) with initial annual rent of $10.5 million. The ground lease is supported by a Bally’s corporate guarantee and cross-defaulted with the Bally's Master Lease (the "Tropicana Las Vegas Lease"). </span></div><div style="margin-top:8pt;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:24.75pt"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><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 that were fully utilized by PENN in the fourth quarter of 2020.</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 Company is leasing the land back to an affiliate of PENN for an initial term of 20 years, followed by six 5-year renewal options exercisable by the tenant (the "Morgantown Lease").</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:24.75pt"><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%">Casino Queen Master 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 November 25, 2020, the Company entered into a definitive agreement to sell the operations of its Hollywood Casino Baton Rouge to Casino Queen for $28.2 million (the "HCBR transaction"). The HCBR transaction closed on December 17, 2021 which resulted in a pre-tax gain of $6.8 million (loss of $7.7 million after tax) for the year ended December 31, 2021. The Company retained ownership of all real estate assets at Hollywood Casino Baton Rouge and simultaneously entered into a triple net master lease with Casino Queen, which includes the Casino Queen property in East St. Louis that was leased by the Company to Casino Queen and the Hollywood Casino Baton Rouge facility ("Casino Queen Master Lease"). The initial annual cash rent is $21.4 million and the lease has an initial term of 15 years with four 5-year renewal options exercisable by the tenant on the same terms and conditions. This rental amount will be increased annually by 0.5% for the first six years. Beginning with the seventh lease year through the remainder of the lease term, if the CPI increases by at least 0.25% for any lease year then annual rent shall be increased by 1.25%, and if the CPI increase is less than 0.25% then rent will remain unchanged for such lease year. Additionally, the Company will complete the current landside development project that is in process and the rent under the Casino Queen Master Lease will be adjusted upon delivery to reflect a yield of 8.25% on GLPI's project costs. The Company will also have a right of first refusal with Casino Queen for other sale leaseback transactions up to$50.0 million until December 2023. Finally, in 2021, GLPI forgave the unsecured $13.0 million, 5.5 year term loan made to CQ Holding </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%">Company, Inc., an affiliate of Casino Queen, which was previously written off in return for a one-time cash payment of $4 million which was recorded in provision for credit losses, net, for the year ended December 31, 2021. </span></div><div style="text-align:justify;text-indent:24.75pt"><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%">Perryville 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 December 15, 2020, the Company announced that PENN exercised its option to purchase from the Company the operations of our Hollywood Casino Perryville, located in Perryville, Maryland, for $31.1 million. The transaction closed on July 1, 2021, which resulted in a pre-tax gain of $15.6 million ($11.3 million after tax) for the year ended December 31, 2021. The Company retained ownership of all the real estate assets of Hollywood Casino Perryville and simultaneously entered into a triple net lease with PENN (the "Perryville Lease"). As described in Note 18, the Perryville Lease was terminated during 2023 and the real estate associated with the property became part of a new master lease with PENN. </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%">Maryland Live! Lease and Pennsylvania Live! Lease</span></div>On December 6, 2021, the Company announced that it agreed to acquire the real property assets of Live! Casino &amp; Hotel Maryland, Live! Casino &amp; Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of Cordish for aggregate consideration of approximately $1.81 billion, excluding transaction costs at deal announcement. The transaction also includes a binding partnership on future Cordish casino developments, as well as potential financing partnerships between the Company and Cordish in other areas of Cordish's portfolio of real estate and operating businesses. On December 29, 2021, the Company completed its acquisition of the real property assets of Live! Casino &amp; Hotel Maryland and entered into a single asset lease for Live! Casino &amp; Hotel Maryland (the "Maryland Live! Lease"). On March 1, 2022, the Company completed its acquisition of the real estate assets of Live! Casino &amp; Hotel Philadelphia and Live! Casino Pittsburgh for $689 million and leased back the real estate to Cordish pursuant to a new triple net master lease with Cordish (the "Pennsylvania Live! Master Lease"). The Pennsylvania Live! Master Lease and the Maryland Live! Lease both have initial lease terms of 39 years, with a maximum term of 60 years inclusive of tenant renewal options. The annual rent for the Maryland Live! Lease is $75.0 million and the Pennsylvania Live! Master Lease is $50 million, both of which have a 1.75% fixed yearly escalator on the entirety of rent commencing on the leases' second anniversary.
CY2022Q4 glpi Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
57 property
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
17 state
CY2022Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
27800000 sqft
CY2022Q4 glpi Realestateoccupancypercentage
Realestateoccupancypercentage
1
CY2022 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
200000000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Allowance for Credit Losses</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%">The Company follows ASC 326 “Credit Losses” (“ASC 326”), which requires that the Company measure and record current expected credit losses (“CECL”), the scope of which includes our Investments in leases - financing receivables and real estate loans. The Company's adoption of Accounting Standards Update ASU 2016-13 on January 1, 2020 did not result in the Company recording any allowances against its real estate loans for expected losses.</span></div><div style="text-align:justify"><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%">We have elected to use an econometric default and loss rate model to estimate the Allowance for credit losses, or CECL allowance. This model requires us to calculate and input lease and property-specific credit and performance metrics which in conjunction with forward-looking economic forecasts, project estimated credit losses over the life of the lease or loan. The Company then records a CECL allowance based on the expected loss rate multiplied by the outstanding investment in lease balance.</span></div><div style="text-align:justify"><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%">Expected losses within our cash flows are determined by estimating the probability of default (“PD”) and loss given default (“LGD”) of our Investment in lease, financing receivables. We have engaged a nationally recognized data analytics firm to assist us with estimating both the PD and LGD for this financing receivable. The PD and LGD are estimated during the initial term of the leases. The PD and LGD estimates for the lease term were developed using current financial condition forecasts. The PD and LGD predictive model was developed using the average historical default rates and historical loss rates, respectively, of over 100,000 commercial real estate loans dating back to 1998 that have similar credit profiles or characteristics to the real estate underlying the Company's financing receivables. Management will monitor the credit risk related to its financing receivables by obtaining the rent coverage on the leases on a periodic basis. The Company also monitors legislative changes to assess whether it would have an impact on the underlying performance of its tenant. We are unable to use our historical data to estimate losses as the Company has no loss history to date on its lease portfolio. Our tenants are current on all of their rental obligations as of December 31, 2022.</span></div><div><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%">The CECL allowance is recorded as a reduction to our net Investments in leases - financing receivables, on our Consolidated Balance Sheets. We are required to update our CECL allowance on a quarterly basis with the resulting change being recorded in the Consolidated Statement of Income for the relevant period. Finally, each time the Company makes a new investment in an asset subject to ASC 326, the Company will be required to record an initial CECL allowance for such asset, which will result in a non-cash charge to the Consolidated Statement of Income for the relevant period. See Note 8 for further information. </span></div><div style="text-align:justify"><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%">Charge-offs are deducted from the allowance in the period in which they are deemed uncollectible. Recoveries previously written off are recorded when received. The Company recorded a recovery of $4 million for the year ended December 31, 2021 for the settlement of a loan that was previously written off to Casino Queen.</span></div>
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2022 glpi Reit Taxable Income Distribution Requirement
REITTaxableIncomeDistributionRequirement
0.90
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concentrations of credit risk arise when a number of operators, tenants, or obligors related to the Company's investments are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. Additionally, concentrations of credit risk may arise when revenues of the Company are derived from a small number of tenants. As of December 31, 2022, substantially all of the Company's real estate properties were leased to PENN, Cordish, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Caesars, Boyd an</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d Bally's. During the year ended December 31, 2022, approximately 65%,11%, 9%, 8% and 5% of the Company's collective income from real estate was derived from tenant leases with PENN, Cordish, Caesars, Boyd and Bally's respectively. PENN, Caesars, Boyd and Bally's are publicly traded companies that are subject to the informational filing requirements of the Securities Exchange Act of 1934, as amended, and are required to file periodic reports on Form 10-K and Form 10-Q and current reports on Form 8-K with the Securities and Exchange Commission ("SEC"). Readers are directed to PENN,Caesars, Boyd and Bally's respective websites for further financial information on these companies. Other than the Company's tenant concentration, management believes the Company's portfolio was reasonably diversified by geographical location and did not contain any other significant concentrations of credit risk. As of December 31, 2022, the Company's portfolio of 57 properties is diversified by location across 17 states.</span></div>Financial instruments that subject the Company to credit risk consist of cash and cash equivalents, accounts receivable, real estate loans and other loans receivable. The Company's policy is to limit the amount of credit exposure to any one financial institution and place investments with financial institutions evaluated as being creditworthy, or in short-term money market and tax-free bond funds which are exposed to minimal interest rate and credit risk. At times, the Company has bank deposits and overnight repurchase agreements that exceed federally-insured limits
CY2022Q4 glpi Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
57 property
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
17 state
CY2022Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
57 property
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
29564000 usd
CY2021Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
5699000 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9626018000 usd
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9458918000 usd
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1918083000 usd
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1681367000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7707935000 usd
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7777551000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
6676528000 usd
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
4012937000 usd
CY2022Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
940885000 usd
CY2021Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
601947000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
7617413000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
4614884000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19124000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
12226000 usd
CY2022Q4 us-gaap Direct Financing Lease Net Investment In Lease After Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
1903195000 usd
CY2021Q4 us-gaap Direct Financing Lease Net Investment In Lease After Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
1201670000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
127222000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
129286000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
131532000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
133816000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
136141000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
6018531000 usd
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
6676528000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
12226000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
32277000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
-25379000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19124000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year One Originated Current Fiscal Year
NetInvestmentInLeaseAndFinancingReceivableYearOneOriginatedCurrentFiscalYear
695855000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year
NetInvestmentInLeaseAndFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
1226464000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Before Allowance For Credit Loss
NetInvestmentInLeaseAndFinancingReceivableBeforeAllowanceForCreditLoss
1922319000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year One Originated Current Fiscal Year Allowance For Credit Loss
NetInvestmentInLeaseAndFinancingReceivableYearOneOriginatedCurrentFiscalYearAllowanceForCreditLoss
15029000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Allowance For Credit Loss
NetInvestmentInLeaseAndFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearAllowanceForCreditLoss
4095000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Allowance For Credit Loss
NetInvestmentInLeaseAndFinancingReceivableAllowanceForCreditLoss
19124000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year One Originated Current Fiscal Year Amortized Cost
NetInvestmentInLeaseAndFinancingReceivableYearOneOriginatedCurrentFiscalYearAmortizedCost
680826000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Amortized Cost
NetInvestmentInLeaseAndFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearAmortizedCost
1222369000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Amortized Cost
NetInvestmentInLeaseAndFinancingReceivableAmortizedCost
1903195000 usd
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year One Originated Current Fiscal Year Allowance For Credit Loss Percentage
NetInvestmentInLeaseAndFinancingReceivableYearOneOriginatedCurrentFiscalYearAllowanceForCreditLossPercentage
-0.0216
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Allowance For Credit Loss Percentage
NetInvestmentInLeaseAndFinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearAllowanceForCreditLossPercentage
-0.0033
CY2022Q4 glpi Net Investment In Lease And Financing Receivable Allowance For Credit Loss Percentage
NetInvestmentInLeaseAndFinancingReceivableAllowanceForCreditLossPercentage
-0.0099
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
834067000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
851819000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13567000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13516000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13463000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13467000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12996000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
597698000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
664707000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
482742000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
181965000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
13477000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
12959000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
19755000 usd
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
9075000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
947000 usd
CY2022 us-gaap Lease Cost
LeaseCost
49093000 usd
CY2021 us-gaap Lease Cost
LeaseCost
38597000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P51Y1M2D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.066
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1617000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1617000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35372000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2222000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2244000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2267000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2289000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
2313000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
302058000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
313393000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
259601000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
53792000 usd
CY2022Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
6175583000 usd
CY2021Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
6599744000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
47115000 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
47372000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
6128468000 usd
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
6552372000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
500149000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
400156000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
850164000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
975114000 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
3450000000 usd
CY2022Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
6175583000 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2200000 usd
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 usd
CY2022Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
1749600000 usd
CY2022 glpi Numberof Subsidiary Note Issuers
NumberofSubsidiaryNoteIssuers
2 subsidiary
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 usd
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 usd
CY2022 glpi Deferred Compensation Arrangement Employer Contribution Vesting Period
DeferredCompensationArrangementEmployerContributionVestingPeriod
P5Y
CY2022 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
500000 usd
CY2021 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
500000 usd
CY2020 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
700000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
25800000 usd
CY2021Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
33800000 usd
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
27400000 usd
CY2021Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
34500000 usd
CY2022Q4 glpi Number Of Miles
NumberOfMiles
60 mi
CY2022 glpi Operating Lease Cash Rent Received
OperatingLeaseCashRentReceived
1254326000 usd
CY2022 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-4294000 usd
CY2022 glpi Operating Lease Ground Lease Income
OperatingLeaseGroundLeaseIncome
33034000 usd
CY2022 us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
19442000 usd
CY2022 glpi Operating Lease Other Rental Revenue
OperatingLeaseOtherRentalRevenue
589000 usd
CY2022 us-gaap Revenues
Revenues
1311685000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1114814000 usd
CY2022Q4 glpi Straight Line Rent Adjustments Current
StraightLineRentAdjustmentsCurrent
17316000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable Current
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableCurrent
11948000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognized Current
OperatingLeasesFutureIncometoBeRecognizedCurrent
1144078000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1053793000 usd
CY2022Q4 glpi Straight Line Rent Adjustmentsin Two Years
StraightLineRentAdjustmentsinTwoYears
49139000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Two Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInTwoYears
11951000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognizedin Two Years
OperatingLeasesFutureIncometoBeRecognizedinTwoYears
1114883000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1035915000 usd
CY2022Q4 glpi Straight Line Rent Adjustmentsin Three Years
StraightLineRentAdjustmentsinThreeYears
47529000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Three Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInThreeYears
11953000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognizedin Three Years
OperatingLeasesFutureIncometoBeRecognizedinThreeYears
1095397000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
969624000 usd
CY2022Q4 glpi Straight Line Rent Adjustmentsin Four Years
StraightLineRentAdjustmentsinFourYears
43161000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Four Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFourYears
11130000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognizedin Four Years
OperatingLeasesFutureIncometoBeRecognizedinFourYears
1023915000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
928792000 usd
CY2022Q4 glpi Straight Line Rent Adjustmentsin Five Years
StraightLineRentAdjustmentsinFiveYears
38731000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Five Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFiveYears
10253000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognizedin Five Years
OperatingLeasesFutureIncometoBeRecognizedinFiveYears
977776000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5903599000 usd
CY2022Q4 glpi Straight Line Rent Adjustments Thereafter
StraightLineRentAdjustmentsThereafter
128898000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable Thereafter
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableThereafter
56979000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognized Thereafter
OperatingLeasesFutureIncometoBeRecognizedThereafter
6089476000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
11006537000 usd
CY2022Q4 glpi Straight Line Rent Adjustments Net
StraightLineRentAdjustmentsNet
324774000 usd
CY2022Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivable
114214000 usd
CY2022Q4 glpi Operating Leases Future Incometo Be Recognized
OperatingLeasesFutureIncometoBeRecognized
11445525000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2691433 shares
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
11000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2730000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
748000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3489000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3489000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
14653000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
16363000 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1111000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2402000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6653000 usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2315000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
17055000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23016000 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3426000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3534000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
467000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1792000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-16000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5326000 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
451000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17055000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28342000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3877000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
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RealEstateImprovements
8700000 usd
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RealEstateCostOfRealEstateSold
6890000 usd
CY2021 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
3250000 usd
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RealEstateCostOfRealEstateSold
194369000 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
9626018000 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
9458918000 usd
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8698098000 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1681367000 usd
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1410940000 usd
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1200941000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
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CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
230941000 usd
CY2020 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
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CY2022 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
0 usd
CY2021 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
39909000 usd
CY2020 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
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CY2022 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
93000 usd
CY2021 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
423000 usd
CY2020 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
10070000 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
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CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1681367000 usd
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1410940000 usd
CY2022 dei Auditor Firm
AuditorFirmId
34
CY2022 dei Auditor Name
AuditorName
Deloitte & Touche
CY2022 dei Auditor Location
AuditorLocation
New York, New York

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