GLPI

Gaming and Leisure Properties Inc.

Consumer, Event Driven/Special Sit


Presented:02/28/2014
Price:$37.89
Cap:$3.36B
Current Price:$51.04
Cap:$14.00B

Presented

Date02/28/2014
Price$37.89
Market Cap$3.36B
Ent Value$3.34B
P/E Ratio23.06x
Book ValueN/A
Div Yield6.7%
Shares O/S88.69M
Ave Daily Vol1,050,000
Short Int7.93%

Current

Price$51.04
Market Cap$14.00B
Gaming and Leisure Properties, Inc. (the “Company” or “GLPI”) is a Pennsylvania corporation that was incorporated on February 13, 2013 as a wholly-owned subsidiary of Penn National Gaming, Inc.(“Penn”). On November 1, 2013, Penn completed the spin-off of GLPI by distributing the common stock it held in GLPI to Penn’s shareholders. GLPI holds directly or indirectly substantially all of the assets and liabilities associated with the real property interests and real estate development business related to Penn’s gaming operations, as well as the assets and liabilities of Louisiana Casino Cruises, Inc. (“Hollywood Casino Baton Rouge”) and Penn Cecil Maryland, Inc. (“Hollywood Casino Perryville”). Penn continues to hold all of its other historical operations, assets and liabilities.

Highlights

The presenter is long shares of Gaming and Leisure Properties (GLPI), and believes shareholders at present levels (~$37) are not paying up for the potential future growth and value of the company. GLPI was recently spun out of Penn National Gaming (November, 2013).

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Idea Discussion

Commentor 1 - 2 weeks ago

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