Gaming and Leisure Properties, inc (GLPI) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Apr. 29 The Mississippi Gaming Commission announced Thursday it is rescinding all of the coronavirus restrictions in place since March 4 for casinos across the state, including the requirement that employees and visitors must wear masks. The order becomes effective at 5 p.m. Friday, April 30. "All licensed operators shall continue to abide by any state and local rules or ordinances pertaining .
(1) FFO is net income, excluding (gains) or losses from sales of property and real estate depreciation as defined by NAREIT.
(2) AFFO is FFO, excluding stock based compensation expense, the amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, amortization of land rights, straight-line rent adjustments and losses on debt extinguishment, reduced by capital maintenance expenditures.
(3) Adjusted EBITDA is net income, excluding interest, taxes on income, depreciation, (gains) or losses from sales of property, stock based compensation expense, straight-line rent adjustments, amortization of land rights, and losses on debt extinguishment.
Peter Carlino, Chairman and Chief Executive Officer of GLPI, commented, Our record first quarter financial results highlight our long-term focus on aligning with the industry s top regional gaming operators, expanding and diversifying our portfolio of r
Bally's Corporation says has reached a deal to buy the Tropicana Las Vegas on the Strip in a deal valued at about $308 million. In a press release, Bally's announced it will buy Tropicana's non-land assets for $150 million and enter a 50-year lease deal that will begin at $10. 5 million in annual rent. The sale is expected to close early next year, pending regulatory approval.
Operator
Greetings and welcome to Gaming and Leisure Properties Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions]. Please note this conference is being recorded. I will now turn the conference over to Joe Jaffoni, Investor Relations. Thank you. You may begin.
Joseph Jaffoni
Investor Relations
Thank you, Sherry and good morning everyone and thank you for joining Gaming and Leisure Properties fourth quarter 2020 earnings call and webcast. The press release distributed yesterday afternoon is available on the Investor Relations section of 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.