Gaming and Leisure Properties, Inc. (GLPI) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 28, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Greetings. And welcome to the Gaming and Leisure Properties’ First Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Joe Jaffoni. Please go ahead.

Joe Jaffoni

Thank you, Stacy. And good morning, everyone. And thank you for joining Gaming and Leisure Properties’ first quarter 2023 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 in 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 Brandon Moore, Chief Operating Officer, General Counsel and Secretary; Desiree Burke, Chief Financial Officer and Treasurer; Steve Ladany, Senior Vice President and Chief Development Officer; and Matthew Demchyk, Senior Vice President and Chief Investment Officer.

With that, it’s my pleasure to turn this call over to Peter Carlino. Peter, please go ahead.

Peter Carlino

Well, thank you, Joe. And good morning. We are happy, of course, to report another very positive quarter as well outlined in our release yesterday. As always, I think, our team has done a very thorough job of giving you all the information that you would want, it is very well encapsulated there. But I’ll highlight a couple of things and then, of course, turn the floor over to Desiree and to Matthew.