Gaming and Leisure Properties advances $800m casino development programme

Gaming and Leisure Properties (GLPI) has outlined progress across its US casino real estate portfolio, with development spending expected to reach US$800m in 2026 and several major investments contributing to its latest financial results. The company, which owns casino land and buildings and leases them to gaming operators rather than operating casinos itself, reported third-quarter revenue of $435.4m, up 9.5 per cent year-on-year, while adjusted funds from operations (AFFO) increased to $311.7m from $282m. Among its largest commitments is the Live! Casino & Hotel Virginia development with The Cordish Companies.