Gaming and Leisure Properties (NASDAQ:GLPI) is a real estate investment trust formed as a spin off from casino operator Penn National Gaming (NASDAQ:PENN) in November of last year. Following a recently declared and delivered dividend of $11.84, a purge-of-historical-earnings requirement, the company has by all intents and purposes climbed its last hurdle in achieving full REIT status. It is the only REIT focused on the casino market.
With first mover advantage in a space with limited supply and high barriers to entry, GLPI, with a market cap of $3.5 billion, and 20 properties already under its belt, is positioning itself as a go-to consolidator of smaller-sized, regional gaming assets.
GLPI's 20-property portfolio across 13...
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