CluenexGaming and Leisure Properties GLPI
Gaming and Leisure Properties scores average on business quality (5.4 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Gaming and Leisure Properties does
Gaming and Leisure Properties owns and leases casino real estate to gaming operators, generating revenue through long-term triple-net lease agreements.
- What it does best
GLPI specializes in acquiring and leasing specialized gaming assets, delivering an operating margin of 83% that beats peer IRM at 21%. These triple-net leases lock tenants into multi-decade commitments with strict financial protections.
- The main risk
Rising interest costs threaten its leveraged balance sheet, where total debt stands at $7.3 billion and interest coverage sits at 3.6x. Higher borrowing expenses directly pressure the cash available for dividends and acquisitions.
Quality, check by check
Scored against its own industry, from company filings.
Gross margin reaches 96.6% while operating margin hits 83%, demonstrating elite conversion of rental revenue into operating income as the asset-heavy portfolio scales.
Long-term master leases lock in casino operators with high switching costs due to the specialized nature of gaming properties, backed by an operating margin sitting in the top decile of its sector.
Revenue grew 4.1% to $1.6 billion over the past year, showing modest expansion as the historical summary indicates steady top-line progression without dramatic acceleration.
Debt-to-equity sits at 1.6 with an interest coverage ratio of 3.6x. Free cash flow dropped to negative $557 million due to heavy capital expenditures, making the balance sheet softer.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
1 insider bought $422K on the open market.
Our sealed record on GLPI
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Gaming and Leisure Properties scores average on the Cluenex quality check (5.4 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: 1 insider bought $422K on the open market.
Oct 29, 2026, after the close.
See GLPI today
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Cite this page: Cluenex, “Gaming and Leisure Properties (GLPI)”, https://cluenex.com/stocks/glpi/, data as of Oct 10, 2026.