GLPI sees “strong earnings growth” in Q3 despite revenue decrease
The vast majority of the revenue total – $283.3m – came from rental income, a figure which is 5.9% higher than the same time last year. GLPI rents properties to the likes of Penn National Gaming (such as its Hollywood Casino and Ameristar facilities) and Bally’s Corporation (Tropicana Evansville and Dover Downs)
$15.5m of revenue came from gaming, food and drink and other sources from operating Hollywood Casino Baton Rouge, the only casino it operates. T
Operating expenses for the company amounted to $73.6m, down from $06.9m last year. Administrative costs were $13.1m, land rights and ground lease expenses came to $9.4m, while gaming, food and beverage costs were $5.9m. The majority of the expenses were accounted for by depreciation of $60.2m.
As a result, overall income from operations came to $225.1m, up 12.2% from 2020.