Gaming & Leisure Properties reports record Q2 revenue $430.5M, AFFO per share $1.03; raises 2026 AFFO midpoint
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Gaming & Leisure Properties posted record second-quarter results, reporting total revenue of $430.5 million and net income of $234.9 million for the quarter ended June 30, 2026. AFFO for the quarter was $304.0 million, or $1.03 per diluted share and OP/LTIP units, and Adjusted EBITDA totaled $405.5 million. The company raised the midpoint of its 2026 AFFO per share guidance to $4.11 (range $4.10–$4.12) and increased the quarterly dividend to $0.82 per share.
Financial Highlights
- Total revenue: $430.5 million for the three months ended June 30, 2026 (up from $394.9 million in Q2 2025).
- Income from operations: $332.4 million for the quarter.
- Net income: $234.9 million for the quarter; diluted net income per common share: $0.80.
- FFO: $302.3 million for the quarter; FFO per diluted common share and OP/LTIP units: $1.03.
- AFFO: $304.0 million for the quarter; AFFO per diluted common share and OP/LTIP units: $1.03. Adjusted EBITDA: $405.5 million for the quarter.
Business Highlights
- Raised quarterly dividend to $0.82 per share (5.1% increase) with an annualized dividend yield of 7.4% as of June 30, 2026.
- Invested $191 million in tenant developments during Q2 and completed the $225 million funding commitment for PENN’s Hollywood Casino Aurora landside conversion.
- Anticipates additional development funding of approximately $400–$450 million in H2 2026, bringing total 2026 development spend to $750–$800 million.
- Balance sheet and liquidity: leverage at 4.8x net debt to adjusted EBITDA as of June 30, 2026 (below target range low end of 5.0x–5.5x) and completed $351.0 million net proceeds from a forward sale issuance of 7,589,487 shares.
- Portfolio composition and activity: interests in 71 gaming and related facilities across 21 states, including recent acquisitions and the exercise to acquire Bally’s Twin River Lincoln assets and a development agreement to fund up to $440 million for Live! Virginia.
Original SEC Filing: Gaming & Leisure Properties, Inc. [ GLPI ] - 8-K - Jul. 31, 2026
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.