- Gaming and Leisure Properties (NASDAQ:GLPI) falls 2.3% in premarket trading after trimming year guidance for revenue, adjusted EBITDA, and net income.
- GLPI now sees 2018 revenue of $1.019B vs prior view of $1.021B and adjusted EBITDA of $889.4M compared with previous forecast of $890.1M; now sees EPS of $1.92 vs. prior view of $2.01; sees adjusted FFO of $666.1M vs. $675.9M.
- Q3 guidance: Total revenue of $255.2M; adjusted FFO $165.1M, adjusted EBITDA $222.8M, and EPS of 49 cents.
- Q2 EPS 43 cents vs. 45 cents Y/Y; total revenue $254.2M vs. $243.4M.
- Q2 net income included: $9.6M charge due to retirement of CFO offset by $1.0M gain on lower than anticipated legal and outside service expense; loss of $3.5M on debt extinguishment, net interest charge of $1.1M due to refinancing of 2018 debt maturities.
- Sees completing combination with Penn National Gaming and Pinnacle Entertainment completed in Q4 and acquisition of Tropicana Entertainment assets closing by the end of the year. Still sees transactions increasing dividend by about 8%-10%.
- Source: Press Release
- Previously: Gaming and Leisure Properties misses by $0.17, revenue in-line (Aug. 1)
- Now read: Was The Sell-Off In New Residential Warranted Or Not?
Original article