GLPI publishes third-quarter 2026 results showing revenue growth
Revenue +9.5% to US$435.4M; adjusted FFO +10.5% and dividend yield above 8.5%.
Key Takeaways
- GLPI reported total revenue of US$435.4 million in Q3 2026, up 9.5% year-on-year.
- Adjusted EBITDA rose 13% to US$413.9 million and adjusted FFO increased 10.5% to US$311.7 million.
- Net income was US$213.8 million, down from US$248.5 million a year earlier.
- As of 30 September 2026 the portfolio included interests in 71 gaming and entertainment properties and GLPI highlights a dividend yield above 8.5%.
GLPI (Gaming and Leisure Properties Inc.) reported on 2 November 2026 its third-quarter results, with total revenue rising 9.5% year-on-year to US$435.4 million and adjusted FFO (funds from operations) increasing 10.5% to US$311.7 million. Net income for the period was US$213.8 million, compared with US$248.5 million in the same quarter a year earlier.
Operating results and profitability
The REIT recorded a 13% increase in adjusted EBITDA, which reached US$413.9 million. The company attributes the improvement to the operational stability of its real-estate portfolio and the performance of its tenant operators. In its statement, Peter Carlino, President, CEO and Chairman of Gaming and Leisure Properties Inc., defended the company’s business model:
“These results demonstrate the strength of our model which prioritises 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.”
Carlino also pointed to a disconnect between operating results and market valuation: “Despite this consistent execution, we believe GLPI’s share price remains significantly dislocated from its fundamentals, resulting in an attractive yield of over 8.5 per cent based on the current quarterly cash dividend.”
Portfolio and transactions
As of 30 September 2026, GLPI’s portfolio comprised property and financing interests in 71 related gaming and entertainment facilities. Recent initiatives include an agreement with Prologis to reactivate the former site of Hollywood Casino Joliet in Illinois, an operation GLPI describes as part of its ability to extract alternative value from gaming assets.
The company maintains a focus on long-term triple-net leases with integrated escalator clauses which, GLPI says, protect income streams from inflationary pressure and ensure strong lease coverage by operators.
Outlook and strategic positioning
GLPI stresses that its combination of defensive lease structures, high dividend yields and redevelopment projects underpins its role as an institutional landlord in the global casinos and iGaming ecosystem; regional gaming’s resilience in the United States remains intact. Carlino said: “Regional gaming has proven its resilience for decades, and it is doing so again. Same-store operator results delivered healthy year-over-year gains through the first nine months of 2026.” The company positions these results for investors following coverage in [news](/news) and the sector’s operational reporting in [casino](/casino).
The official report was published on 2 November 2026 and summarises key figures: total revenue US$435.4 million, adjusted EBITDA US$413.9 million, adjusted FFO US$311.7 million, and net income US$213.8 million.
Investor context
Management believes the share price does not fully reflect the fundamentals and highlights a dividend yield above 8.5% based on the current quarterly cash dividend. GLPI says it keeps discipline in lease underwriting and in structuring complex transactions with quality operators, which it presents as part of its [b2b](/b2b) strategy.
Signed: Emilio Navarro, Sector technology correspondent.
Frequently Asked Questions
What were GLPI’s revenues in the third quarter of 2026?
GLPI’s total revenue in Q3 2026 was US$435.4 million, an increase of 9.5% year-on-year, according to the company’s 2 November 2026 statement.
What key profitability and cash-flow figures did GLPI report?
GLPI reported adjusted EBITDA of US$413.9 million, up 13%, and adjusted FFO of US$311.7 million, up 10.5% for the quarter.
What did management say about the share price and the dividend?
Peter Carlino said the market price is materially dislocated from fundamentals and pointed to an attractive yield of over 8.5% based on the current quarterly cash dividend.
Were there any portfolio changes by 30 September 2026?
By 30 September 2026 the portfolio included interests in 71 gaming and entertainment facilities, and GLPI signed an agreement with Prologis related to the former Hollywood Casino Joliet site.
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About the author
Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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