Gaming and Leisure Properties, Inc. (GLPI) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 29, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Greetings! Welcome to the Gaming and Leisure Properties, Inc., First Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note that this conference is being recorded.

I will now turn the conference over to your host, Joe Jaffoni, Investor Relations. You may now begin.

Joe Jaffoni

Thank you, Kyle, and good morning everyone. And thank you for joining Gaming and Leisure Properties first quarter 2022 earnings call and webcast. The press release distributed yesterday afternoon is available on the Investor Relations section on our website at www.glpropinc.com.

On today's call management's prepared remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters that are subject to risks and uncertainties that may cause actual results to differ materially from those discussed today.

Forward-looking statements may include those related to revenue, operating income and financial guidance, as well as non-GAAP financial measures such as FFO and AFFO. As a reminder, forward-looking statements represent management's current estimates and the company assumes no obligation to update any forward-looking statements in the future.

We encourage listeners to review the more detailed discussions related to risk factors and forward-looking statements contained in the company's filings with the SEC, including its 10-Q and the earnings release, as well as the definitions and reconciliations of non-GAAP financial measures contained in the company's earnings release.

On this morning's call, we are joined by Peter Carlino, Chairman and Chief Executive Officer of Gaming and Leisure Properties. Also joining today's call are Desiree Burke, Senior Vice President and Chief Accounting Officer and Treasurer; Brandon Moore, Executive Vice President, General Counsel and Secretary; Steve Ladany, Senior Vice President, Chief Development Officer; and Matthew Demchyk, Senior Vice President and Chief Investment Officer.

With that, it's my pleasure to turn the call over to your host, Peter Carlino. Peter, please go ahead.

Peter Carlino

Well, thank you Joe and good morning to everyone. We are pleased on this lovely spring day here in Pennsylvania to report another strong and eventful quarter for the company. In this quarter we completed as you know the acquisition of the real-estate assets of the Live! Casino & Hotel in Philadelphia and in Pittsburgh with the Cordish Companies. You will recall that we closed on the Maryland Live! property in December.