Gaming and Leisure Q3 revenue slightly misses estimates
GLPI•Gaming and Leisure Properties’ third-quarter revenue rose 9.5% year over year to $435.40 million, slightly below the $436.33 million estimate, while adjusted EBITDA beat estimates at $413.90 million. The company raised the lower end of its 2026 AFFO guidance to $1.222 billion and expects $4.11 to $4.12 per share.
1. Quarterly results
Gaming and Leisure Properties reported third-quarter revenue of $435.40 million, up 9.5% year over year and slightly below the $436.33 million analyst estimate. Adjusted EBITDA was $413.90 million, above the $408.26 million estimate.
2. 2026 outlook
The company expects 2026 AFFO of $1.222 billion to $1.225 billion and AFFO per share of $4.11 to $4.12. It raised the lower end of its AFFO guidance from $1.219 billion.
3. Operating factors
The company attributed performance to long-term triple-net leases with built-in rent escalators and strong lease coverage. It said rent collections remained resilient, supported by healthy same-store operator results, while increased development spending contributed to portfolio growth.
