Gaming & Leisure Properties, Inc. income statement
In fiscal 2026, Gaming & Leisure Properties, Inc. reported revenue of $1.59bn, up 4.1% on the year before, operating income of $1.20bn (a 75.3% margin) and net income of $825m, or $2.95 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2011 | 2013Dec 2012 | 2014Dec 2013 | 2015Dec 2014 | 2016Dec 2015 | 2017Dec 2016 | 2018Dec 2017 | 2019Dec 2018 | 2020Dec 2019 | 2021Dec 2020 | 2022Dec 2021 | 2023Dec 2022 | 2024Dec 2023 | 2025Dec 2024 | 2026Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 232 | 211 | 235 | 591 | 575 | 828 | 971 | 1,056 | 1,153 | 1,153 | 1,216 | 1,312 | 1,440 | 1,532 | 1,595 |
| Cost of revenue | — | — | — | — | — | — | — | — | 75 | 57 | 53 | 0 | 0 | — | — |
| Gross profit | — | — | — | — | — | — | — | — | 1,079 | 1,096 | 1,163 | 1,312 | 1,440 | — | — |
| General and administrative | 25 | 25 | 43 | 81 | 83 | 71 | 63 | 71 | 65 | 69 | 61 | 51 | 56 | 60 | 63 |
| Operating income | 53 | 44 | 54 | 259 | 257 | 481 | 606 | 594 | 717 | 809 | 842 | 1,030 | 1,069 | 1,131 | 1,201 |
| Interest expense | — | 0 | 19 | 117 | 124 | 186 | 217 | 248 | 302 | 282 | 283 | 309 | 323 | 367 | 374 |
| Net interest income | — | −0 | 19 | 115 | 122 | 184 | 215 | — | — | — | — | — | — | — | — |
| Provision for credit losses | — | — | — | — | — | — | — | — | 13 | — | — | — | — | — | — |
| Income before tax | 46 | 37 | 30 | 144 | 136 | 297 | 390 | 344 | 396 | 510 | 562 | 720 | 757 | 810 | 853 |
| Income tax | 19 | 14 | 16 | 5 | 7 | 8 | 10 | 5 | 5 | 4 | 28 | 17 | 2 | 2 | 2 |
| Net income | 27 | 23 | 15 | 139 | 128 | 289 | 381 | 340 | 391 | 506 | 534 | 685 | 734 | 785 | 825 |
| Diluted EPS | $0.23 | $0.20 | $0.13 | $1.18 | $1.08 | $1.60 | $1.79 | $1.58 | $1.81 | $2.30 | $2.26 | $2.70 | $2.77 | $2.87 | $2.95 |
| Diluted shares (average) | 116m | 116m | 116m | 118m | 118m | 181m | 213m | 215m | 216m | 220m | 236m | 254m | 265m | 274m | 280m |
| EBITDA | 67 | 58 | 83 | 365 | 367 | 596 | 729 | 742 | 976 | 1,052 | 1,094 | 1,284 | 1,345 | 1,404 | 1,484 |
| Quarter | 2024 Q2Jun 2024 | 2024 Q3Sept 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 381 | 385 | 395 | 395 | 398 | 420 | 431 | 435 |
| General and administrative | 14 | 13 | 19 | 16 | 17 | 18 | 13 | 13 |
| Operating income | 293 | 271 | 259 | 242 | 337 | 333 | 332 | 310 |
| Interest expense | 87 | 96 | 97 | 90 | 94 | 96 | 101 | 99 |
| Provision for credit losses | −4 | 28 | 39 | 54 | −37 | −10 | 3 | 36 |
| Income before tax | 215 | 191 | 171 | 157 | 249 | 240 | 236 | 214 |
| Income tax | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net income | 208 | 185 | 165 | 151 | 241 | 232 | 228 | 208 |
| Diluted EPS | $0.77 | $0.67 | $0.60 | $0.54 | $0.85 | $0.82 | $0.80 | $0.71 |
| EBITDA | 359 | 336 | 328 | 311 | 405 | 403 | 399 | 379 |
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