{"id":11406,"date":"2026-10-30T22:02:07","date_gmt":"2026-10-30T22:02:07","guid":{"rendered":"https:\/\/casino-online-best.com\/index.php\/2026\/10\/30\/glpi-raises-affo-forecast-floor-after-435-4-million-revenue-q3\/"},"modified":"2026-10-30T22:02:07","modified_gmt":"2026-10-30T22:02:07","slug":"glpi-raises-affo-forecast-floor-after-435-4-million-revenue-q3","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2026\/10\/30\/glpi-raises-affo-forecast-floor-after-435-4-million-revenue-q3\/","title":{"rendered":"GLPI Raises AFFO Forecast Floor After $435.4 Million Revenue Q3"},"content":{"rendered":"<div>\n<p>Gaming and Leisure Properties (GLPI) raised the lower end of its 2026 adjusted funds from operations forecast after reporting record third-quarter revenue of $435.4 million. The company also agreed to redevelop the former Hollywood Casino Joliet site with Prologis.<\/p>\n<hr>\n<p><strong>Good to know<\/strong><\/p>\n<ul>\n<li>GLPI now forecasts annual AFFO of $1.222 billion to $1.225 billion.<\/li>\n<li>The proposed Joliet redevelopment would include five buildings covering more than 3.8 million square feet.<\/li>\n<li>Quarterly revenue rose 9.5%, although net income and unadjusted funds from operations declined.<\/li>\n<\/ul>\n<hr>\n<p>The revised outlook includes approximately $265 million in additional development funding, bringing planned development spending for 2026 to $800 million.<\/p>\n<p>GLPI previously forecast AFFO of $1.219 billion to $1.225 billion. It now expects $4.11 to $4.12 per diluted share and OP\/LTIP units, compared with the earlier range of $4.10 to $4.12.<\/p>\n<p>Those projections assume no material adverse changes in regulation, legislation, economic conditions, consumer trends, oil prices or competition.<\/p>\n<h2><strong>Former Joliet Casino Site Could Become Distribution Park<\/strong><\/h2>\n<p>The agreement with Prologis gives GLPI a development opportunity outside its existing casino rental operations.<\/p>\n<p>The companies signed definitive joint venture agreements on October 27. Prologis plans a Class A warehouse and distribution park at the former Hollywood Casino Joliet property in Illinois, subject to City of Joliet review and approval.<\/p>\n<p>Development would take approximately five years. Prologis holds options over the second and third phases, so the full project remains conditional.<\/p>\n<p>GLPI would contribute land in three stages and receive a $61 million capital account credit if all phases proceed. Its ownership interest in the completed project would reach approximately 20%, potentially increasing to around 30% if it provides additional capital.<\/p>\n<h2><strong>Record Adjusted Results Accompany Lower Net Income<\/strong><\/h2>\n<p>For the three months ended September 30, GLPI increased adjusted EBITDA by 13% to $413.9 million, from $366.4 million a year earlier.<\/p>\n<p>AFFO rose 10.5% to $311.7 million from $282 million. On a diluted share and OP\/LTIP unit basis, AFFO increased 7.2% to $1.04 from $0.97.<\/p>\n<p>However, other measures declined. Net income fell to $213.8 million from $248.5 million, while income from operations dropped to $309.9 million from $337.2 million.<\/p>\n<p>Unadjusted funds from operations decreased to $275.9 million from $315.5 million. Net income per diluted common share fell to $0.71 from $0.85.<\/p>\n<p>Chairman and CEO Peter Carlino credited long-term triple-net leases, built-in rent increases and lease coverage for the record adjusted results.<\/p>\n<p><em>\u201cThese results demonstrate the strength of our model, which prioritizes long-term triple-net leases with built-in escalators, strong lease coverage, and the ability to structure and underwrite complex transactions and creative funding solutions for quality tenants,\u201d<\/em> he said.<\/p>\n<p>Carlino also pointed to improving same-store operator performance through the first nine months of 2026.<\/p>\n<p><em>\u201cRegional gaming has proven its resilience for decades, and it is doing so again.\u201d<\/em><\/p>\n<p>He argued that the share price did not reflect the underlying business, citing a dividend yield above 8.5% based on the quarterly cash dividend at the time of the announcement.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/glpi-raises-affo-forecast-floor-after-435-4-million-revenue-q3\/\">GLPI Raises AFFO Forecast Floor After $435.4 Million Revenue Q3<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gaming and Leisure Properties (GLPI) raised the lower end of its 2026 adjusted funds from operations forecast after reporting record third-quarter revenue of $435.4 million. The company also agreed to redevelop the former Hollywood Casino Joliet site with Prologis. Good to know GLPI now forecasts annual AFFO of $1.222 billion to $1.225 billion. The proposed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-11406","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Gaming and Leisure Properties (GLPI) raised the lower end of its 2026 adjusted funds from operations forecast after reporting record third-quarter revenue of $435.4 million. The company also agreed to redevelop the former Hollywood Casino Joliet site with Prologis. 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The proposed"},"aioseo_meta_data":[],"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/casino-online-best.com\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tGLPI Raises AFFO Forecast Floor After $435.4 Million Revenue Q3\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/casino-online-best.com\/"},{"label":"GLPI Raises AFFO Forecast Floor After $435.4 Million Revenue Q3","link":"https:\/\/casino-online-best.com\/index.php\/2026\/10\/30\/glpi-raises-affo-forecast-floor-after-435-4-million-revenue-q3\/"}],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/11406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=11406"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/11406\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=11406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=11406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=11406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}