Gaming and Leisure Properties (GLPI) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-36124
Entity Registrant Name	Gaming & Leisure Properties, Inc.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	46-2116489
Entity Address, Address Line One	845 Berkshire Blvd., Suite 200
Entity Address, City or Town	Wyomissing
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19610
City Area Code	610
Local Phone Number	401-2900
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	GLPI
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		214,682,856
Entity Central Index Key	0001575965
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Assets
Real estate investments, net	$ 7,210,028		$ 7,331,460
Property and equipment, used in operations, net	97,219		100,884
Right-of-use assets and land rights, net	862,927
Land rights, net			673,207
Cash and cash equivalents	24,739		25,783	$ 144,472		$ 29,054
Prepaid expenses	2,943		30,967
Goodwill	16,067		16,067
Other intangible assets	9,577		9,577
Deferred tax assets	5,721		5,178
Other assets	30,959		67,486
Total assets	8,563,864		8,577,293
Liabilities
Accounts payable	171		2,511
Accrued expenses	6,778		30,297
Accrued interest	53,340		45,261
Accrued salaries and wages	8,120		17,010
Gaming, property, and other taxes	966		42,879
Income taxes	0		0
Lease liabilities	202,098
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	5,796,990		5,853,497
Deferred rental revenue	311,198		293,911
Deferred tax liabilities	233		261
Other liabilities	25,283		26,059
Total liabilities	6,405,177		6,311,686
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	2,147		2,142
Additional paid-in capital	3,951,949		3,952,503
Accumulated deficit	(1,795,409)		(1,689,038)
Total shareholders’ equity	2,158,687	$ 2,207,684	2,265,607	$ 2,378,768	$ 2,416,848	$ 2,458,247
Total liabilities and shareholders’ equity	8,563,864		8,577,293
Mortgage loans receivable
Assets
Financing receivable, after allowance for credit loss	303,684		303,684
Loans receivable
Assets
Financing receivable, after allowance for credit loss	$ 0		$ 13,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	214,673,135	214,211,932
Common stock, shares, outstanding	214,673,135	214,211,932

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Revenues
Rental income	$ 248,563	$ 496,241
Income from direct financing lease	0	0
Interest income from mortgaged real estate	7,201	14,394
Total revenues	289,013	576,877
Operating expenses
Gaming, food, beverage and other	19,168	38,190
Land rights and ground lease expense	15,229	24,478
General and administrative	15,984	33,224
Depreciation	67,865	126,443
Loan impairment charges	0	13,000
Total operating expenses	118,246	235,335
Income from operations	170,767	341,542
Other income (expenses)
Interest expense	(76,523)	(153,251)
Interest income	248	337
Losses on debt extinguishment	0	0
Total other expenses	(76,275)	(152,914)
Income before income taxes	94,492	188,628
Income tax expense	1,459	2,585
Net income	$ 93,033	$ 186,043
Earnings per common share (in dollars per share)
Basic earnings per common share (in dollars per share)	$ 0.43	$ 0.87
Diluted earnings per common share (in dollars per share)	$ 0.43	$ 0.86
Real Estate
Revenues
Total revenues	$ 255,764	$ 510,635
Gaming, food, beverage and other
Revenues
Total revenues	$ 33,249	$ 66,242

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Dividends paid per common share (in dollars per share)	$ 0.63
Beginning Balance at Dec. 31, 2017	$ 2,458,247	$ 2,127	$ 3,933,829	$ (1,477,709)
Beginning Balance (in shares) at Dec. 31, 2017		212,717,549
Increase (Decrease) in Shareholders' Equity
Stock option activity	5,244	$ 3	5,241
Stock option activity (in shares)		297,605
Restricted stock activity	(8,288)	$ 5	(8,293)
Restricted stock activity (in shares)		483,095
Dividends paid	(134,717)			(134,717)
Net income	96,772			96,772
Ending Balance at Mar. 31, 2018	2,416,848	$ 2,135	3,930,777	(1,516,064)
Ending Balance (in shares) at Mar. 31, 2018		213,498,249
Beginning Balance at Dec. 31, 2017	2,458,247	$ 2,127	3,933,829	(1,477,709)
Beginning Balance (in shares) at Dec. 31, 2017		212,717,549
Increase (Decrease) in Shareholders' Equity
Net income	188,770
Ending Balance at Jun. 30, 2018	$ 2,378,768	$ 2,137	3,935,517	(1,558,886)
Ending Balance (in shares) at Jun. 30, 2018		213,737,939
Dividends paid per common share (in dollars per share)	$ 0.63
Beginning Balance at Mar. 31, 2018	$ 2,416,848	$ 2,135	3,930,777	(1,516,064)
Beginning Balance (in shares) at Mar. 31, 2018		213,498,249
Increase (Decrease) in Shareholders' Equity
Stock option activity	4,127	$ 2	4,125
Stock option activity (in shares)		236,240
Restricted stock activity	615	$ 0	615
Restricted stock activity (in shares)		3,450
Dividends paid	(134,820)			(134,820)
Net income	91,998			91,998
Ending Balance at Jun. 30, 2018	$ 2,378,768	$ 2,137	3,935,517	(1,558,886)
Ending Balance (in shares) at Jun. 30, 2018		213,737,939
Dividends paid per common share (in dollars per share)	$ 0.68
Beginning Balance at Dec. 31, 2018	$ 2,265,607	$ 2,142	3,952,503	(1,689,038)
Beginning Balance (in shares) at Dec. 31, 2018	214,211,932	214,211,932
Increase (Decrease) in Shareholders' Equity
Stock option activity	$ 592	$ 0	592
Stock option activity (in shares)		26,799
Restricted stock activity	(5,323)	$ 4	(5,327)
Restricted stock activity (in shares)		406,769
Dividends paid	(146,202)			(146,202)
Net income	93,010			93,010
Ending Balance at Mar. 31, 2019	2,207,684	$ 2,146	3,947,768	(1,742,230)
Ending Balance (in shares) at Mar. 31, 2019		214,645,500
Beginning Balance at Dec. 31, 2018	$ 2,265,607	$ 2,142	3,952,503	(1,689,038)
Beginning Balance (in shares) at Dec. 31, 2018	214,211,932	214,211,932
Increase (Decrease) in Shareholders' Equity
Net income	$ 186,043
Ending Balance at Jun. 30, 2019	$ 2,158,687	$ 2,147	3,951,949	(1,795,409)
Ending Balance (in shares) at Jun. 30, 2019	214,673,135	214,673,135
Dividends paid per common share (in dollars per share)	$ 0.68
Beginning Balance at Mar. 31, 2019	$ 2,207,684	$ 2,146	3,947,768	(1,742,230)
Beginning Balance (in shares) at Mar. 31, 2019		214,645,500
Increase (Decrease) in Shareholders' Equity
Restricted stock activity	4,182	$ 1	4,181
Restricted stock activity (in shares)		27,635
Dividends paid	(146,212)			(146,212)
Net income	93,033
Ending Balance at Jun. 30, 2019	$ 2,158,687	$ 2,147	$ 3,951,949	$ (1,795,409)
Ending Balance (in shares) at Jun. 30, 2019	214,673,135	214,673,135

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income	$ 186,043	$ 188,770
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	138,939	60,932
Amortization of debt issuance costs, bond premiums and original issuance discounts	5,790	6,296
Losses on dispositions of property	13	225
Deferred income taxes	(466)	(117)
Stock-based compensation	8,508	4,603
Straight-line rent adjustments	17,287	33,233
Losses on debt extinguishment	0	3,473
Loan impairment charges	13,000	0
(Increase), decrease
Prepaid expenses and other assets	(2,312)	(1,123)
Increase, (decrease)
Accounts payable	(2,340)	(254)
Accrued expenses	1,305	157
Accrued interest	8,079	2,367
Accrued salaries and wages	(8,890)	6,607
Gaming, property and other taxes	(98)	(119)
Income taxes	0	0
Other liabilities	(777)	572
Net cash provided by operating activities	364,081	305,622
Investing activities
Capital project expenditures	0	(14)
Capital maintenance expenditures	(1,547)	(1,984)
Proceeds from sale of property and equipment	190	227
Collections of principal payments on investment in direct financing lease	0	29,239
Net cash (used in) provided by investing activities	(1,357)	27,468
Financing activities
Dividends paid	(292,414)	(269,537)
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options	(9,057)	(2,905)
Proceeds from issuance of long-term debt	155,000	1,000,000
Financing costs	(236)	(19,745)
Repayments of long-term debt	(217,061)	(923,601)
Net cash used in financing activities	(363,768)	(217,672)
Net (decrease) increase in cash and cash equivalents	(1,044)	115,418
Cash and cash equivalents at beginning of period	25,783	29,054
Cash and cash equivalents at end of period	$ 24,739	$ 144,472

Business and Operations

Business and Operations	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Operations	Business and Operations Gaming and Leisure Properties, Inc. ("GLPI") is a self-administered and self-managed Pennsylvania real estate investment trust ("REIT"). GLPI (together with its subsidiaries, the "Company") was incorporated on February 13, 2013, as a wholly-owned subsidiary of Penn National Gaming, Inc. ("Penn"). On November 1, 2013, Penn contributed to GLPI, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with Penn’s real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville, which are referred to as the "TRS Properties," and then spun-off GLPI to holders of Penn's common and preferred stock in a tax-free distribution (the "Spin-Off"). The Company elected on its United States ("U.S.") federal income tax return for its taxable year that began on January 1, 2014 to be treated as a REIT and GLPI, together with its indirect wholly-owned subsidiary, GLP Holdings, Inc., jointly elected to treat each of GLP Holdings, Inc., Louisiana Casino Cruises, Inc. (d/b/a Hollywood Casino Baton Rouge) and Penn Cecil Maryland, Inc. (d/b/a Hollywood Casino Perryville) as a "taxable REIT subsidiary" ("TRS") effective on the first day of the first taxable year of GLPI as a REIT. As a result of the Spin-Off, GLPI owns substantially all of Penn’s former real property assets (as of the Spin-Off) and leases back most of those assets to Penn for use by its subsidiaries, under a unitary master lease, a triple-net operating lease with an initial term of 15 years (expiring October 31, 2028) with no purchase option, followed by four 5-year renewal options (exercisable by Penn) on the same terms and conditions (the "Penn Master Lease"), and GLPI also owns and operates the TRS Properties through an indirect wholly-owned subsidiary, GLP Holdings, Inc. In April 2016, the Company acquired substantially all of the real estate assets of Pinnacle Entertainment, Inc. ("Pinnacle") for approximately $4.8 billion . GLPI originally leased these assets back to Pinnacle, under a unitary triple-net lease with an initial term of 10 years (expiring April 30, 2026) with no purchase option, followed by five 5-year renewal options (exercisable by Pinnacle) on the same terms and conditions (the "Pinnacle Master Lease"). On October 15, 2018, the Company completed its previously announced transactions with Penn, Pinnacle and Boyd Gaming Corporation ("Boyd") to accommodate Penn's acquisition of the majority of Pinnacle's operations, pursuant to a definitive agreement and plan of merger between Penn and Pinnacle, dated December 17, 2017 (the "Penn-Pinnacle Merger"). Concurrent with the Penn-Pinnacle Merger, the Company amended the Pinnacle Master Lease to allow for the sale of the operating assets of Ameristar Casino Hotel Kansas City, Ameristar Casino Resort Spa St. Charles and Belterra Casino Resort from Pinnacle to Boyd (the "Amended Pinnacle Master Lease") and entered into a new unitary triple-net master lease agreement with Boyd (the "Boyd Master Lease") for these properties on terms similar to the Company’s Amended Pinnacle Master Lease. The Boyd Master Lease has an initial term of 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease and expiring April 30, 2026), with no purchase option, followed by five 5-year renewal options (exercisable by Boyd) on the same terms and conditions. The Company also purchased the real estate assets of Plainridge Park Casino ("Plainridge Park") from Penn for $250.0 million , exclusive of transaction fees and taxes and added this property to the Amended Pinnacle Master Lease. The Amended Pinnacle Master Lease was assumed by Penn at the consummation of the Penn-Pinnacle Merger. The Company also entered into a mortgage loan agreement with Boyd in connection with Boyd's acquisition of Belterra Park Gaming & Entertainment Center ("Belterra Park"), whereby the Company loaned Boyd $57.7 million . In addition to the acquisition of Plainridge Park described above, on October 1, 2018, the Company closed its previously announced transaction to acquire certain real property assets from Tropicana Entertainment Inc. (“Tropicana”) and certain of its affiliates pursuant to a Purchase and Sale Agreement (the “Real Estate Purchase Agreement”) dated April 15, 2018 between Tropicana and GLP Capital L.P., the operating partnership of GLPI (“GLP Capital”), which was subsequently amended on October 1, 2018 (as amended, the “Amended Real Estate Purchase Agreement”). Pursuant to the terms of the Amended Real Estate Purchase Agreement, the Company acquired the real estate assets of Tropicana Atlantic City, Tropicana Evansville, Tropicana Laughlin, Trop Casino Greenville and the Belle of Baton Rouge (the “GLP Assets”) from Tropicana for an aggregate cash purchase price of $964.0 million , exclusive of transaction fees and taxes (the "Tropicana Acquisition"). Concurrent with the Tropicana Acquisition, Eldorado Resorts, Inc. ("Eldorado") acquired the operating assets of these properties from Tropicana pursuant to an Agreement and Plan of Merger dated April 15, 2018 by and among Tropicana, GLP Capital, Eldorado and a wholly-owned subsidiary of Eldorado (the "Tropicana Merger Agreement") and leased the GLP Assets from the Company pursuant to the terms of a new unitary triple-net master lease with an initial term of 15 years , with no purchase option followed by four successive 5-year renewal periods (exercisable by Eldorado) on the same terms and conditions (the “Eldorado Master Lease”). Additionally, on October 1, 2018 the Company made a mortgage loan to Eldorado in the amount of $246.0 million in connection with Eldorado’s acquisition of Lumière Place Casino and Hotel ("Lumière Place") (and together with the Tropicana Acquisition the "Tropicana Transactions"). GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. As of June 30, 2019 , GLPI’s portfolio consisted of interests in 46 gaming and related facilities, including the TRS Properties, the real property associated with 33 gaming and related facilities operated by Penn, the real property associated with 6 gaming and related facilities operated by Eldorado (including one mortgaged facility), the real property associated with 4 gaming and related facilities operated by Boyd (including one mortgaged facility) and the real property associated with the Casino Queen in East St. Louis, Illinois. These facilities are geographically diversified across 16 states and were 100% occupied at June 30, 2019

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. In conjunction with the adoption of ASU 2016-02, Leases (Topic 842) ("ASU 2016-02"), on January 1, 2019, the Company recorded right-of-use assets on the condensed consolidated balance sheet to represent the Company's rights to use the underlying leased assets for the term of the lease. As this asset related, in part, to the same leases which resulted in the below market lease asset the Company described as land rights, net on the December 31, 2018 condensed consolidated balance sheet, this line item has been re-named to right-of-use assets and land rights, net as the assets are required to be reported in the aggregate subsequent to the adoption of ASU 2016-02. Furthermore, under ASU 2016-02, the Company is no longer required to gross-up its financial statements for the real estate taxes paid directly by its tenants to third-parties. The condensed consolidated financial statements include the accounts of GLPI and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses for the reporting periods. Actual results could differ from those estimates. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . The notes to the consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2018 (our "Annual Report") should be read in conjunction with these condensed consolidated financial statements. The December 31, 2018 financial information has been derived from the Company’s audited consolidated financial statements.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02. This ASU primarily provides new guidance for lessees on the accounting treatment of operating leases. Under the new guidance, lessees are required to recognize assets and liabilities arising from operating leases on the balance sheet. ASU 2016-02 also aligns lessor accounting with the revenue recognition guidance in Topic 606 of the Accounting Standards Codification. Generally speaking, ASU 2016-02 more significantly impacted the accounting for leases in which GLPI is the lessee by requiring the Company to record a right-of-use asset and lease liability on its condensed consolidated balance sheet for these leases. The Company's accounting treatment of its triple-net tenant leases, which are the primary source of revenues to the Company, were not significantly impacted by the adoption of ASU 2016-02, other than to eliminate the real estate tax gross-up discussed below. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements ("ASU 2018-11") which permits companies to apply the transition provisions of ASU 2016-02 at its effective date (i.e. comparative financial statements are not required). Furthermore, in December 2018, the FASB issued ASU No. 2018-20, Leases (Topic 842): Narrow Scope Improvements for Lessors ("ASU 2018-20"). ASU 2018-20 clarifies that lessor costs paid directly to a third-party by a lessee on behalf of the lessor are no longer required to be recognized in the lessor's financial statements. Therefore, upon the adoption of ASU 2016-02, the Company no longer grosses-up its financial statements for real estate taxes paid directly to third-parties by its tenants. The Company notes, however, that ground leases for which the tenant pays the landlord directly on the Company's behalf are still required to be grossed-up within its condensed consolidated financial statements upon the adoption of ASU 2016-02, as these are not considered lessor costs. On January 1, 2019, the Company adopted ASU 2016-02 using the new transition option available under ASU 2018-11 and recorded right-of-use assets and related lease liabilities of $203 million on its condensed consolidated balance sheet to represent its rights to underlying assets and its future lease obligations. Also in connection with the adoption of ASC 842 - Leases ("ASC 842"), the land rights recorded on balance sheet in conjunction with the Company's assumption of below market leases at the time it acquired the related land and building assets are now required to be reported in aggregate with the Company's operating lease right-of-use assets, reflected as right-of-use assets and land rights, net on the condensed consolidated balance sheet. Furthermore, the Company elected the package of practical expedients, which among other things, did not require the Company to reassess the lease classification of its existing leases and the practical expedient related to land easements, which allowed the Company to bypass the reassessment of existing or expired land easements for the existence of a lease under ASC 842. See Note 7 for further disclosures related to the adoption of ASU 2016-02. Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40: Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract (a consensus of the FASB Emerging Issues Task Force ) ("ASU 2018-15"). This ASU clarifies that entities should follow the guidance for capitalizing implementation costs incurred to develop or obtain internal-use software to account for implementation costs of cloud computing arrangements that are service contracts. ASU 2018-15 does not change the accounting for the service component of a cloud computing arrangement. ASU 2018-15 is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company does not expect the adoption of ASU 2018-15 to have a significant impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). This ASU simplifies an entity's goodwill impairment test by eliminating Step 2 from the test. The new guidance also amends the definition of impairment to a condition that exists when the carrying amount of goodwill exceeds its fair value. By eliminating Step 2 from the test, entities are no longer required to determine the implied fair value of goodwill by computing the fair value (at impairment testing date) of all assets and liabilities in a manner similar to that required in conjunction with business combinations. Upon the adoption of ASU 2017-04, an impairment charge is simply recorded as the difference between carrying value and fair value, when carrying value exceeds fair value. ASU 2017-04 is effective for annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The Company expects the adoption of ASU 2017-04 to simplify the analysis required under the goodwill impairment test. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instrument ("ASU 2016-13"). This ASU introduces a new model for estimating credit losses for certain types of financial instruments, including mortgage and other loans receivable, amongst other financial instruments. ASU 2016-13 sets forth an "expected credit loss" impairment model to replace the current "incurred loss" method of recognizing credit losses, which is intended to improve financial reporting by requiring timely recording of credit losses on loans and other financial instruments. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, with early adoption permitted for fiscal years beginning after December 15, 2018. The Company does not expect the adoption of ASU 2016-13 to have a significant impact on its consolidated financial statements.

Real Estate Investments

Real Estate Investments	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments Real estate investments, net, represents investments in 42 rental properties and the corporate headquarters building and is summarized as follows: June 30, December 31, (in thousands) Land and improvements $ 2,552,285 $ 2,552,475 Building and improvements 5,749,212 5,762,071 Total real estate investments 8,301,497 8,314,546 Less accumulated depreciation (1,091,469 ) (983,086 ) Real estate investments, net $ 7,210,028 $ 7,331,460 On June 30, 2019 , the Resorts Casino Tunica property was closed by the Company's tenant, resulting in the acceleration of $10.3 million of depreciation expense related to the building at this property and bringing the net book value of this building to zero

Property and Equipment Used in

Property and Equipment Used in Operations	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment Used in Operations	Property and Equipment Used in Operations Property and equipment used in operations, net, consists of the following and primarily represents the assets utilized in the TRS Properties: June 30, December 31, (in thousands) Land and improvements $ 30,463 $ 30,431 Building and improvements 116,779 116,776 Furniture, fixtures, and equipment 118,159 117,247 Construction in progress 527 284 Total property and equipment 265,928 264,738 Less accumulated depreciation (168,709 ) (163,854 ) Property and equipment, net $ 97,219 $ 100,884

Receivables Receivables

Receivables Receivables	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Receivables	Receivables Mortgage Loans Receivable At June 30, 2019 , the Company has financial interests in two casino properties through secured mortgage loans to the respective casino owner-operators. On October 1, 2018, Eldorado purchased the real estate assets of Lumière Place from Tropicana for a cash purchase price of $246.0 million , exclusive of transaction fees. Financing for the transaction was provided by the Company in the form of a $246.0 million secured mortgage loan on Lumière Place (the "Lumière Loan"). The Lumière Loan bears interest at a rate equal to (i) 9.09% until the one-year anniversary of the closing, and (ii) 9.27% until its maturity. Until the one-year anniversary of the closing, the Lumière Loan is secured by a first mortgage lien on Lumière Place. On the one-year anniversary of the Lumière Loan, the mortgage evidenced by a deed of trust on the Lumière Place property will terminate and the loan will continue unsecured until its final maturity on the two-year anniversary of the closing. The parties anticipate that the Lumière Loan will be fully repaid on or prior to maturity by way of substitution of one or more additional Eldorado properties acceptable to Eldorado and the Company, which will be transferred to the Company and added to the Eldorado Master Lease. On October 15, 2018, Boyd purchased the real estate assets of Belterra Park from Pinnacle for a cash purchase price of $57.7 million , exclusive of transaction fees. Financing for the transaction was provided by the Company in the form of $57.7 million secured mortgage loan on Belterra Park (the "Belterra Park Loan"). The Belterra Park Loan bears interest at an initial rate equal to 11.11% and matures in connection with the expiration of the Boyd Master Lease (as may be extended at the tenant's option to April 30, 2051). At June 30, 2019 , the interest rate on the Belterra Park Loan had increased to 11.20% . Loan Receivable In January 2014, the Company completed the asset acquisition of the real property associated with the Casino Queen in East St. Louis, Illinois. GLPI leases the property back to Casino Queen on a triple-net basis on terms similar to those in the Company's existing master leases. The lease has an initial term of 15 years and the tenant has an option to renew it at the same terms and conditions for four successive five-year periods (the "Casino Queen Lease"). Simultaneously with the Casino Queen acquisition, GLPI provided Casino Queen with a $43.0 million , five-year term loan at 7% interest, pre-payable at any time, which, together with the sale proceeds, completely refinanced and retired all of Casino Queen’s outstanding long-term debt obligations. On March 13, 2017, the outstanding principal and interest on this loan was repaid in full and GLPI simultaneously provided a new unsecured $13.0 million , 5.5-year term loan to CQ Holding Company, Inc., an affiliate of Casino Queen ("CQ Holding Company"), to partially finance their acquisition of Lady Luck Casino in Marquette, Iowa. The new loan bears an interest rate of 15% and is pre-payable at any time. The Company evaluates loans for impairment when it is probable that it will not be able to collect all amounts due according to contractual terms. All amounts due under the contractual terms means that both contractual interest payments and contractual principal payments of a loan will be collected as scheduled in the loan agreement. Indicators of impairment may include delinquent payments, a decline in the credit worthiness of a debtor, or a decline in the underlying property/tenant’s performance. The Company measures loan impairment based upon the present value of expected future cash flows discounted at the loan’s original effective interest rate. The determination of whether loans are impaired involves judgments and assumptions based on objective and subjective factors. If an impairment occurs, the Company will reduce the carrying value of the loan and record a corresponding charge to net income. On June 12, 2018, the Company received a Notice of Event of Default under the senior credit agreement of CQ Holding Company from the secured lender under such agreement, which reported a covenant default under their senior secured agreement. Under the terms of that agreement, when an event of default occurs, CQ Holding Company is prohibited from making cash payments to unsecured lenders such as GLPI. Therefore, beginning in June 2018 and through June 30, 2019, the interest due from CQ Holding Company under the Company's unsecured loan was paid in kind in the aggregate amount of $2.6 million . In addition to the covenant violation noted above under its senior credit agreement, CQ Holding Company also had a payment default under the senior credit agreement. Furthermore, the Company notified Casino Queen of Events of Default under the Company's unsecured loan with CQ Holding Company, related to financial covenant violations during the year ended December 31, 2018. At December 31, 2018, active negotiations for the sale of Casino Queen's operations were taking place. Despite the payment and covenant defaults noted above, at that time, full payment of the principal was still expected, due to the anticipation that the operations were to be sold in the near term for an amount allowing for repayment of the full $13.0 million of loan principal due to GLPI. During the first quarter of 2019, the operating results of Casino Queen continued to decline, resulting in the anticipated acquirer withdrawing from the sales process. Subsequent offers for the operating assets of Casino Queen have declined substantially and proceeds from the sale are not expected to generate enough cash to repay all of Casino Queen’s creditors. Thus, because the Company does not expect Casino Queen to be able to repay the $13.0 million of principal due to it under the unsecured loan agreement, the full $13.0 million of principal was written off at March 31, 2019. The Company has recorded an impairment charge of $13.0 million through the condensed consolidated statement of income for the six months ended June 30, 2019 to reflect the write-off of the Casino Queen loan. At June 30, 2019 , all lease payments due from Casino Queen remain current, however, Casino Queen was in violation of the rent coverage ratio required under its lease with the Company and the Company has provided notice to Casino Queen and its secured lenders of such default.

Lease Assets and Lease Liabilit

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease Assets and Lease Liabilities	Lease Assets and Lease Liabilities Lease Assets The Company determines whether a contract is or contains a lease at its inception. A lease is defined as the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Right-of-use assets and lease liabilities are recorded on the Company's condensed consolidated balance sheet at the lease commencement date for operating leases in which the Company acts as lessee. Right-of-use assets represent the Company's rights to use underlying assets for the term of the lease and lease liabilities represent the Company's future obligations under the lease agreement. Right-of-use assets and lease liabilities are recognized at the lease commencement date based upon the estimated present value of the lease payments. As the rate implicit in the Company's leases cannot readily be determined, the Company utilizes its estimated incremental borrowing rate to determine the present value of its lease payments. Consideration is also given to the Company's recent debt issuances, as well as publicly available data for instruments with similar characteristics when determining the incremental borrowing rates of the Company's leases. The Company includes options to extend the lease in its lease term, when it is reasonably certain that the Company will exercise those renewal options. In the instance of the Company's ground leases associated with leased properties, the Company has included all available renewal options in the lease term, as it intends to renew these leases indefinitely. The Company accounts for the lease and nonlease components of these triple-net tenant leases as a single lease component. Leases with a term of 12 months or less are not recorded on the Company's condensed consolidated balance sheet. Right-of-use assets and land rights are monitored for potential impairment in much the same way as the Company's real estate assets, using the impairment model in ASC 360 - Property, Plant and Equipment . If the Company determines the carrying amount of a right-of-use asset or land right is not recoverable, it would recognize an impairment charge equivalent to the amount required to reduce the carrying value of the asset to its estimated fair value, calculated in accordance with GAAP. The Company is subject to various operating leases as lessee for both real estate and equipment, the majority of which are ground leases related to properties the Company leases to its tenants under triple-net operating leases. Details of the Company's significant ground leases can be found in the Form 10-K for the year ended December 31, 2018. For certain of these ground leases, the Company subleases the underlying assets to its tenants who are responsible for payment directly to the third-party landlord. Under ASC 842, the Company is required to gross-up its condensed consolidated financial statements for these ground leases as the Company is considered the primary obligor. In conjunction with the adoption of ASU 2016-02 on January 1, 2019, the Company recorded right-of-use assets and related lease liabilities on its condensed consolidated balance sheet to represent its rights to use the underlying leased assets and its future lease obligations, respectively, including for those ground leases paid directly by our tenants. Because the right-of-use asset relates, in part, to the same leases which resulted in the land right assets the Company recorded on its condensed consolidated balance sheet in conjunction with the Company's assumption of below market leases at the time it acquired the related land and building assets, the Company is required to report the right-of-use assets and land rights in the aggregate on the condensed consolidated balance sheet. Land rights, net represent the Company's rights to land subject to long-term ground leases. The Company obtained ground lease rights through the acquisition of several of its rental properties and immediately subleased the land to its tenants. These land rights represent the below market value of the related ground leases. The Company assessed the acquired ground leases to determine if the lease terms were favorable or unfavorable, given market conditions at the acquisition date. Because the market rents to be received under the Company's triple-net tenant leases were greater than the rents to be paid under the acquired ground leases, the Company concluded that the ground leases were below market and were therefore required to be recorded as a definite lived asset (land rights) on its books. Components of the Company's right-of use assets and land rights, net are detailed below (in thousands): June 30, 2019 Right-of use assets - operating leases $ 202,215 Land rights, net 660,712 Right-of-use assets and land rights, net $ 862,927 Land Rights The land rights are amortized over the individual lease term of the related ground lease, including all renewal options, which ranged from 10 years to 92 years at their respective acquisition dates. Land rights net, consist of the following: June 30, December 31, (in thousands) Land rights $ 694,077 $ 700,997 Less accumulated amortization (33,365 ) (27,790 ) Land rights, net $ 660,712 $ 673,207 On June 30, 2019, the Resorts Casino Tunica property was closed by the Company's tenant, resulting in the acceleration of $6.3 million of land right amortization expense related to the ground lease at this property and bringing the net book value of this land right to zero at June 30, 2019. As of June 30, 2019 , estimated future amortization expense related to the Company’s land rights by fiscal year is as follows (in thousands): Year ending December 31, 2019 (remainder of year) $ 6,040 2020 12,081 2021 12,081 2022 12,081 2023 12,081 Thereafter 606,348 Total $ 660,712 Lease Liabilities At June 30, 2019 , maturities of the Company's operating lease liabilities were as follows (in thousands): Year ending December 31, 2019 (remainder of year) $ 7,800 2020 15,282 2021 15,133 2022 15,026 2023 15,005 Thereafter 685,974 Total lease payments $ 754,220 Less: interest (552,122 ) Present value of lease liabilities $ 202,098 As a result of transitioning from the guidance in ASC 840 to ASC 842, the Company's annual minimum lease payments did not change. Lease Expense Operating lease costs represent the entire amount of expense recognized for operating leases that are recorded on the condensed consolidated balance sheet. Variable lease costs are not included in the measurement of the lease liability and include both lease payments tied to a property's performance and changes in an index such as the CPI that are not determinable at lease commencement, while short-term lease costs are costs for those operating leases with a term of 12 months or less. The components of lease expense were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (in thousands) Operating lease cost $ 3,920 $ 7,813 Variable lease cost 2,068 4,504 Short-term lease cost 273 511 Amortization of land right assets 9,406 12,496 Total lease cost $ 15,667 $ 25,324 Amortization expense related to the land right intangibles, as well as variable lease costs and the majority of the Company's operating lease costs are recorded within land rights and ground lease expense in the condensed consolidated statements of income. The Company's short-term lease costs are recorded in both gaming, food, beverage and other expense and general and administrative expense in the condensed consolidated statements of income, while a small portion of operating lease costs is also recorded in both gaming, food, beverage and other expense and general and administrative expense in the condensed consolidated statements of income. Amortization expense related to the land right intangibles totaled $2.7 million and $5.5 million for the three and six months ended June 30, 2018 , respectively, while other lease costs totaled $4.2 million and $8.5 million , respectively for the same periods. Supplemental Disclosures Related to Leases Supplemental balance sheet information related to the Company's operating leases was as follows: June 30, 2019 Weighted average remaining lease term - operating leases 51.39 years Weighted average discount rate - operating leases 6.7% Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (in thousands) Cash paid for amounts included in the measurement of leases liabilities: Operating cash flows from operating leases (1) $ 555 $ 1,111 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 287 $ 287 (1) The Company's cash paid for operating leases is significantly less than the lease cost for the same period due to the majority of the Company's ground lease rent being paid directly to the landlords by the Company's tenants. Although GLPI expends no cash related to these leases, they are required to be grossed up in the Company's financial statements under ASC 842.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt is as follows: June 30, December 31, (in thousands) Unsecured $1,175 million revolver $ 340,000 $ 402,000 Unsecured term loan A-1 525,000 525,000 $1,000 million 4.875% senior unsecured notes due November 2020 1,000,000 1,000,000 $400 million 4.375% senior unsecured notes due April 2021 400,000 400,000 $500 million 5.375% senior unsecured notes due November 2023 500,000 500,000 $850 million 5.25% senior unsecured notes due June 2025 850,000 850,000 $975 million 5.375% senior unsecured notes due April 2026 975,000 975,000 $500 million 5.75% senior unsecured notes due June 2028 500,000 500,000 $750 million 5.30% senior unsecured notes due January 2029 750,000 750,000 Finance lease liability 1,052 1,112 Total long-term debt 5,841,052 5,903,112 Less: unamortized debt issuance costs, bond premiums and original issuance discounts (44,062 ) (49,615 ) Total long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts $ 5,796,990 $ 5,853,497 The following is a schedule of future minimum repayments of long-term debt as of June 30, 2019 (in thousands): Within one year $ 126 2-3 years 1,925,271 4-5 years 840,298 Over 5 years 3,075,357 Total minimum payments $ 5,841,052 Senior Unsecured Credit Facility The Company's senior unsecured credit facility (the "Credit Facility") consists of a $1,175 million revolving credit facility and a $525 million Term Loan A-1 facility. The revolving credit facility matures on May 21, 2023 and the Term Loan A-1 facility matures on April 28, 2021. At June 30, 2019 , the Credit Facility had a gross outstanding balance of $865 million , consisting of the $525 million Term Loan A-1 facility and $340 million of borrowings under the revolving credit facility. Additionally, at June 30, 2019 , the Company was contingently obligated under letters of credit issued pursuant to the Credit Facility with face amounts aggregating approximately $0.4 million , resulting in $834.6 million of available borrowing capacity under the revolving credit facility as of June 30, 2019 . The Credit Facility contains customary covenants that, among other things, restrict, subject to certain exceptions, the ability of GLPI and its subsidiaries to grant liens on their assets, incur indebtedness, sell assets, make investments, engage in acquisitions, mergers or consolidations or pay certain dividends and other restricted payments. The Credit Facility contains the following financial covenants, which are measured quarterly on a trailing four-quarter basis: a maximum total debt to total asset value ratio, a maximum senior secured debt to total asset value ratio, a maximum ratio of certain recourse debt to unencumbered asset value and a minimum fixed charge coverage ratio. In addition, GLPI is required to maintain a minimum tangible net worth and its status as a REIT. GLPI is permitted to pay dividends to its shareholders as may be required in order to maintain REIT status, subject to the absence of payment or bankruptcy defaults. GLPI is also permitted to make other dividends and distributions subject to pro forma compliance with the financial covenants and the absence of defaults. The Credit Facility also contains certain customary affirmative covenants and events of default, including the occurrence of a change of control and termination of the Penn Master Lease (subject to certain replacement rights). The occurrence and continuance of an event of default under the Credit Facility will enable the lenders under the Credit Facility to accelerate the loans and terminate the commitments thereunder. At June 30, 2019 , the Company was in compliance with all required financial covenants under the Credit Facility. Senior Unsecured Notes At June 30, 2019 , the Company had $4,975 million of outstanding senior unsecured notes (the "Senior Notes"). Each of the Company's Senior Notes contain covenants limiting the Company’s ability to: incur additional debt and use its assets to secure debt; merge or consolidate with another company; and make certain amendments to the Penn Master Lease. The Senior Notes also require the Company to maintain a specified ratio of unencumbered assets to unsecured debt. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. At June 30, 2019 , the Company was in compliance with all required financial covenants under its Senior Notes. Finance Lease Liability The Company assumed the finance lease obligations related to certain assets at its Aurora, Illinois property. GLPI recorded the asset and liability associated with the finance lease on its condensed consolidated balance sheet. The original term of the finance lease was 30 years and it will terminate in 2026.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are classified based upon the level of judgment associated with the inputs used to measure their fair value. ASC 820 - Fair Value Measurements and Disclosures ("ASC 820") establishes a hierarchy that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach, and cost approach). The levels of the hierarchy related to the subjectivity of the valuation inputs are described below: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets, such as interest rates and yield curves that are observable at commonly quoted intervals. • Level 3: Unobservable inputs that reflect the reporting entity's own assumptions, as there is little, if any, related market activity. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practicable to estimate. Cash and Cash Equivalents The fair value of the Company’s cash and cash equivalents approximates the carrying value of the Company’s cash and cash equivalents, due to the short maturity of the cash equivalents. Deferred Compensation Plan Assets The Company's deferred compensation plan assets consist of open-ended mutual funds and as such the fair value measurement of the assets is considered a Level 1 measurement as defined under ASC 820. Deferred compensation plan assets are included within other assets on the condensed consolidated balance sheets. Mortgage Loans Receivable The fair value of the mortgage loans receivable approximates the carrying value of the Company's mortgage loans receivable, as collection on the outstanding loan balances is reasonably assured. The fair value measurement of the mortgage loans receivable is considered a Level 3 measurement as defined under ASC 820. Long-term Debt The fair value of the Senior Notes and senior unsecured credit facility is estimated based on quoted prices in active markets and as such is a Level 1 measurement as defined under ASC 820. The estimated fair values of the Company’s financial instruments are as follows (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents 24,739 24,739 25,783 25,783 Deferred compensation plan assets 26,896 26,896 22,709 22,709 Mortgage loans receivable 303,684 303,684 303,684 303,684 Financial liabilities: Long-term debt: Senior unsecured credit facility 865,000 859,750 927,000 909,308 Senior unsecured notes 4,975,000 5,316,563 4,975,000 4,958,455 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis in periods subsequent to initial recognition. Assets measured at fair value on a nonrecurring basis during the six months ended June 30, 2019 are categorized in the table below based upon the lowest level of significant input to the valuation. There were no assets measured at fair value on a nonrecurring basis during the six months ended June 30, 2018 or liabilities measured at fair value on a nonrecurring basis during the six months ended June 30, 2019 and 2018. Level 1 Level 2 Level 3 Total Impairment Charges Recorded during the Six Months Ended June 30, 2019 (in thousands) Assets: Loan receivable — — — 13,000 Total assets measured at fair value on a nonrecurring basis $ — $ — $ — $ 13,000 Loan Receivable During the first quarter of 2019, the Company recorded an impairment charge of $13.0 million related to the write-off of the principal due to the Company under its unsecured loan to CQ Holding Company. The Company no longer expects the proceeds from the sale of the operating assets of Casino Queen to generate enough cash to repay all of Casino Queen's creditors, including the Company. Thus, because the Company does not expect Casino Queen to repay the $13.0 million of principal due to it under the unsecured loan agreement, the full $13.0 million of principal was written off at March 31, 2019. The Company has recorded an impairment charge of $13.0 million through the condensed consolidated statement of income for the six months ended June 30, 2019 to reflect the write-off of the Casino Queen loan. See Note 6 for further details surrounding the Casino Queen loan.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition As of June 30, 2019 , 20 of the Company’s real estate investment properties were leased to a subsidiary of Penn under the Penn Master Lease, an additional 12 of the Company's real estate investment properties were leased to a subsidiary of Penn under the Amended Pinnacle Master Lease, 5 of the Company's real estate investment properties were leased to a subsidiary of Eldorado under the Eldorado Master Lease and 3 of the Company's real estate investment properties were leased to a subsidiary of Boyd under the Boyd Master Lease. Additionally, the Meadows real estate assets are leased to Penn under a single property triple-net lease and the Casino Queen real estate assets are leased back to the operator under an additional single property triple-net lease. The obligations under the Penn and Amended Pinnacle Master Leases are guaranteed by Penn and, with respect to each lease, by Penn's subsidiaries that occupy and operate the facilities covered by such lease. As a result, the tenant’s obligations under each of the Penn Master Lease and Amended Pinnacle Master Lease are jointly and severally guaranteed by Penn as the ultimate parent company and by each of its subsidiaries benefiting from the applicable lease. Similarly, the obligations under the Eldorado Master Lease are jointly and severally guaranteed by Eldorado and by most of Eldorado's subsidiaries that occupy and operate the facilities leased under the Eldorado Master Lease. The obligations under the Boyd Master Leases are jointly and severally guaranteed by Boyd's subsidiaries that occupy and operate the facilities leased under the Boyd Master Lease. The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractually fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectability is reasonably assured. Additionally, percentage rent that is fixed and determinable at the lease inception date is recorded on a straight-line basis over the lease term, resulting in the recognition of deferred rental revenue on the Company’s condensed consolidated balance sheets. Deferred rental revenue is amortized to rental revenue on a straight-line basis over the remainder of the lease term. The lease term includes the initial non-cancelable lease term and any reasonably assured renewable periods. Contingent rental income that is not fixed and determinable at lease inception is recognized only when the lessee achieves the specified target. Recognition of rental income commences when control of the facility has been transferred to the tenant. The Company’s triple-net tenant leases all contain a fixed component, a portion of which is subject to an annual escalator (typically 2% ) if certain rent coverage ratio thresholds are met and a component that is based on the performance of the facilities subject to such lease, which is adjusted, subject to certain floors, every 2 to 5 years to an amount equal to 4% of the average annual net revenues of all facilities under the related tenant lease during the preceding 2 to 5 years ("percentage rent"). The Penn Master Lease also provides for a component that is based on the performance of two Ohio facilities, which is adjusted, subject to certain floors monthly by an amount equal to 20% of the net revenues of Hollywood Casino Columbus and Hollywood Casino Toledo (together, the "Ohio Properties") during the preceding month. Furthermore, the Company's master leases provide for a floor on the percentage rent described above, should the Company's tenants acquire or commence operating a competing facility within a restricted area (typically 60 miles from a property under the existing master lease with such tenant). These clauses provide landlord protections by basing the percentage rent floor for any affected facility on the net revenues of such facility for the calendar year immediately preceding the year in which the competing facility is acquired or first operated by the tenant. In addition to rent, as triple-net lessees, all of the Company's tenants are required to pay the following executory costs: (1) all facility maintenance, (2) all insurance required in connection with the leased properties and the business conducted on the leased properties, including coverage of the landlord's interests, (3) taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor) and (4) all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. Additionally, in accordance with ASC 842, the Company records revenue for the ground lease rent paid by its tenants with an offsetting expense in land rights and ground lease expense within the condensed consolidated statement of income as the Company has concluded that as the lessee it is the primary obligor under the ground leases. The Company subleases these ground leases back to its tenants, who are responsible for payment directly to the landlord. The Company determined, based on facts and circumstances prevailing at the time of each lease's inception, that neither Penn nor Casino Queen could continue as a going concern without the property(ies) that are leased to them under the respective master lease agreement (in the instance of Penn) and single property lease (in the instance of Casino Queen) with the Company. At lease inception, all of Casino Queen's revenues and substantially all of Penn's revenues were generated from operations in connection with the leased properties. There are also various legal restrictions in the jurisdictions in which Penn, and Casino Queen operate that limit the availability and location of gaming facilities, which makes relocation or replacement of the leased gaming facilities restrictive and potentially impracticable or unavailable. Moreover, under the terms of the master lease, Penn must make renewal elections with respect to all of the leased property together; the tenant is not entitled to selectively renew certain of the leased property while not renewing other property. Accordingly, the Company concluded that failure by Penn or Casino Queen to renew the lease would impose a significant penalty on such tenant such that renewal of all lease renewal options appeared at lease inception to be reasonably assured. Therefore, the Company concluded that the term of Penn Master Lease and the Casino Queen Lease is 35 years , equal to the initial 15-year term plus all four of the 5-year renewal options. On October 15, 2018, in conjunction with the Penn-Pinnacle Merger, the Pinnacle Master Lease was amended by a fourth amendment to such lease to allow for the sale of the operating assets of Ameristar Casino Hotel Kansas City, Ameristar Casino Resort Spa St. Charles and Belterra Casino Resort from Pinnacle to Boyd. As a result of this amendment, the Company reassessed the lease's classification and determined the new lease agreement qualified for operating lease treatment under ASC 840. Therefore, subsequent to the Penn-Pinnacle Merger, the Amended Pinnacle Master Lease is treated as an operating lease in its entirety. Because the properties under the Amended Pinnacle Master Lease, do not represent a meaningful portion of Penn's business at the time Penn assumed the lease, the Company has concluded that the lease term of the Amended Pinnacle Master Lease is 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease), equal to the initial 10-year term only. Subsequent to purchasing the majority of Pinnacle's real estate assets and leasing them back to Pinnacle, the Company entered into a separate triple-net lease with Pinnacle to lease the Meadows real estate assets to Pinnacle. Because this lease involved only a single property within Pinnacle's portfolio, GLPI concluded it was not reasonably assured at lease inception that Pinnacle would elect to exercise all lease renewal options. Therefore, the Company concluded that the lease term of the Meadows Lease is 10 years , equal to the initial 10-year term only. In conjunction with the Penn-Pinnacle Merger, Penn assumed the Meadows Lease. The accounting for the Meadows Lease, including the lease term was not impacted by the change in tenant. Based upon similar fact patterns, the Company concluded it was not reasonably assured at lease inception that Eldorado or Boyd would elect to exercise all lease renewal options under their respective master leases. The properties under each master lease do not represent a meaningful portion of either tenant's business at lease inception; therefore the Company has concluded that the lease term of the Eldorado Master Lease is 15 years and the lease term of the Boyd Master Lease is 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease), equal to the initial terms of such master leases only. Details of the Company's rental income for the three and six months ended June 30, 2019 was as follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Building base rent (1) $ 164,270 $ 327,607 Land base rent 47,543 94,984 Percentage rent 40,062 79,838 Total cash rental income $ 251,875 $ 502,429 Straight-line rent adjustments (8,643 ) (17,287 ) Ground rent in revenue 5,188 10,751 Other rental revenue 143 348 Total rental income $ 248,563 $ 496,241 (1) Building base rent is subject to the annual rent escalators described above. The Company may periodically loan funds to casino owner-operators pursuant to secured mortgage loans for the purchase of gaming related properties. Interest income related to mortgage loans receivable is recorded as revenue from mortgaged real estate within the Company's condensed consolidated statements of income in the period earned. At June 30, 2019, the Company had financial interests in two casino properties, Belterra Park and Lumière Place, pursuant to the secured mortgage loans made by the Company to the respective casino owner-operators, Boyd and Eldorado. Gaming revenue generated by the TRS Properties mainly consists of revenue from slot machines, and to a lesser extent, table game and poker revenue. Gaming revenue from slot machines is the aggregate net difference between gaming wins and losses with liabilities recognized for funds deposited by customers before gaming play occurs, for "ticket-in, ticket-out" coupons in the customers’ possession, and for accruals related to the anticipated payout of progressive jackpots. Progressive slot machines, which contain base jackpots that increase at a progressive rate based on the number of coins played, are charged to revenue as the amount of the jackpots increases. Table game gaming revenue is the aggregate of table drop adjusted for the change in aggregate table chip inventory. Table drop is the total dollar amount of the currency, coins, chips, tokens, outstanding counter checks (markers), and front money that are removed from the live gaming tables. Additionally, food and beverage revenue is recognized as services are performed. Gaming revenue is recognized net of certain sales incentives, including promotional allowances in accordance with ASC 606 - Revenue from Contracts with Customers . The Company also defers a portion of the revenue received from customers (who participate in the points-based loyalty programs) at the time of play and attributed to the awarded points until a later period when the points are redeemed or forfeited. For the TRS Properties, the Company is subject to gaming taxes based on gross gaming revenues in the jurisdictions in which it operates. The Company recognizes gaming tax expense based on the statutorily required percentage of revenue that is required to be paid to state and local jurisdictions in the states where wagering occurs. The Company records gaming taxes at the Company’s estimated effective gaming tax rate for the year, considering estimated taxable gaming revenue and the applicable rates. Such estimates are adjusted each interim period. If gaming tax rates change during the year, such changes are applied prospectively in the determination of gaming tax expense in future interim periods. For the three and six months ended June 30, 2019 , these expenses, which are recorded within gaming, food, beverage and other expense in the condensed consolidated statements of income, totaled $14.2 million and $28.2 million , respectively, as compared to $15.1 million and $29.3 million for the three and six months ended June 30, 2018 , respectively.

Earnings per Share Earnings per

Earnings per Share Earnings per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings Per Share The Company calculates earnings per share ("EPS") in accordance with ASC 260 - Earnings per Share ("ASC 260" ) . Basic EPS is computed by dividing net income applicable to common stock by the weighted-average number of common shares outstanding during the period, excluding net income attributable to participating securities (unvested restricted stock awards). Diluted EPS reflects the additional dilution for all potentially-dilutive securities such as stock options, unvested restricted shares and unvested performance-based restricted shares. In accordance with ASC 260, the Company includes all performance-based restricted shares that would have vested based upon the Company’s performance at quarter-end in the calculation of diluted EPS. Diluted EPS for the Company's common stock is computed using the more dilutive of the two-class method or the treasury stock method. The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) Determination of shares: Weighted-average common shares outstanding 214,664 213,579 214,645 213,442 Assumed conversion of dilutive employee stock-based awards — 262 — 325 Assumed conversion of restricted stock awards 103 62 80 50 Assumed conversion of performance-based restricted stock awards 838 658 795 689 Diluted weighted-average common shares outstanding 215,605 214,561 215,520 214,506 The following table presents the calculation of basic and diluted EPS for the Company’s common stock for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands, except per share and share data) Calculation of basic EPS: Net income $ 93,033 $ 91,998 $ 186,043 $ 188,770 Less: Net income allocated to participating securities (146 ) (129 ) (291 ) (265 ) Net income attributable to common shareholders $ 92,887 $ 91,869 $ 185,752 $ 188,505 Weighted-average common shares outstanding 214,664 213,579 214,645 213,442 Basic EPS $ 0.43 $ 0.43 $ 0.87 $ 0.88 Calculation of diluted EPS: Net income $ 93,033 $ 91,998 $ 186,043 $ 188,770 Diluted weighted-average common shares outstanding 215,605 214,561 215,520 214,506 Diluted EPS $ 0.43 $ 0.43 $ 0.86 $ 0.88 Antidilutive securities excluded from the computation of diluted earnings per share (in shares) — 169,324 1,397 195,529

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Dividends The following table lists the dividends declared and paid by the Company during the six months ended June 30, 2019 and 2018 : Declaration Date Shareholder Record Date Securities Class Dividend Per Share Period Covered Distribution Date Dividend Amount (in thousands) 2019 February 20, 2019 March 8, 2019 Common Stock $ 0.68 First Quarter 2019 March 22, 2019 $ 145,954 May 28, 2019 June 14, 2019 Common Stock $ 0.68 Second Quarter 2019 June 28, 2019 $ 145,985 2018 February 1, 2018 March 9, 2018 Common Stock $ 0.63 First Quarter 2018 March 23, 2018 $ 134,490 April 24, 2018 June 15, 2018 Common Stock $ 0.63 Second Quarter 2018 June 29, 2018 $ 134,631 In addition, for both the three and six months ended June 30, 2019 and 2018, dividend payments were made to GLPI restricted stock award holders in the amount of $0.2 million and $0.4 million , respectively.

Stock Based Compensation Stock

Stock Based Compensation Stock Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock Based Compensation	Stock-Based Compensation The Company accounts for stock compensation under ASC 718 - Compensation - Stock Compensation, which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. This expense is recognized ratably over the requisite service period following the date of grant. The fair value of the Company's time-based restricted stock awards is equivalent to the closing stock price on the day of grant. The Company utilizes a third party valuation firm to measure the fair value of performance-based restricted stock awards at grant date using the Monte Carlo model. As of June 30, 2019 , there was $8.5 million of total unrecognized compensation cost for restricted stock awards that will be recognized over the grants' remaining weighted average vesting period of 1.77 years . For the three and six months ended June 30, 2019 , the Company recognized $2.1 million and $4.1 million , respectively, of compensation expense associated with these awards, compared to $1.0 million and $2.4 million , for the three and six months ended June 30, 2018 , respectively. The following table contains information on restricted stock award activity for the six months ended June 30, 2019 : Number of Award Shares Outstanding at December 31, 2018 299,642 Granted 317,290 Released (280,386 ) Canceled — Outstanding at June 30, 2019 336,546 Performance-based restricted stock awards have a three-year cliff vesting with the amount of restricted shares vesting at the end of the three-year period determined based upon the Company’s performance as measured against its peers. More specifically, the percentage of shares vesting at the end of the measurement period will be based on the Company’s three-year total shareholder return measured against the three-year total shareholder return of the companies included in the MSCI US REIT index and the Company's stock performance ranking among a group of triple-net REIT peer companies. The triple-net measurement group includes publicly traded REITs, which the Company believes derive at least 75% of revenues from triple-net leases. As of June 30, 2019 , there was $13.2 million of total unrecognized compensation cost, which will be recognized over the performance-based restricted stock awards' remaining weighted average vesting period of 1.98 years . For the three and six months ended June 30, 2019 , the Company recognized $2.1 million and $4.4 million , respectively, of compensation expense associated with these awards, compared to a reversal of $0.4 million of expense and the recognition of $2.2 million of expense for the three and six months ended June 30, 2018 , respectively. The following table contains information on performance-based restricted stock award activity for the six months ended June 30, 2019 : Number of Performance-Based Award Shares Outstanding at December 31, 2018 1,342,000 Granted 512,000 Released (447,334 ) Canceled (23,332 ) Outstanding at June 30, 2019 1,383,334

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information Consistent with how the Company’s Chief Operating Decision Maker (as such term is defined in ASC 280 - Segment Reporting ) reviews and assesses the Company’s financial performance, the Company has two reportable segments, GLP Capital, L.P. (a wholly-owned subsidiary of GLPI through which GLPI owns substantially all of its assets) ("GLP Capital") and the TRS Properties. The GLP Capital reportable segment consists of the leased real property and represents the majority of the Company’s business. The TRS Properties reportable segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge. The following tables present certain information with respect to the Company’s segments. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) GLP Capital (1) TRS Properties Total GLP Capital (1) TRS Properties Total Total revenues $ 255,764 $ 33,249 $ 289,013 218,332 35,889 254,221 Income from operations 164,068 6,699 170,767 146,133 7,108 153,241 Interest expense 73,921 2,602 76,523 54,453 2,602 57,055 Income before income taxes 90,394 4,098 94,492 89,098 4,506 93,604 Income tax expense 197 1,262 1,459 228 1,378 1,606 Net income 90,197 2,836 93,033 88,870 3,128 91,998 Depreciation 66,067 1,798 67,865 25,172 2,351 27,523 Capital project expenditures — — — 14 — 14 Capital maintenance expenditures 2 1,015 1,017 3 1,159 1,162 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) GLP Capital (1) TRS Properties Total GLP Capital (1) TRS Properties Total Total revenues $ 510,635 $ 66,242 $ 576,877 $ 427,636 $ 70,635 $ 498,271 Income from operations 328,937 12,605 341,542 291,007 14,085 305,092 Interest expense 148,048 5,203 153,251 105,920 5,203 111,123 Income before income taxes 181,225 7,403 188,628 182,985 8,883 191,868 Income tax expense 265 2,320 2,585 399 2,699 3,098 Net income 180,960 5,083 186,043 182,586 6,184 188,770 Depreciation 122,242 4,201 126,443 50,787 4,690 55,477 Capital project expenditures — — — 14 — 14 Capital maintenance expenditures 4 1,543 1,547 51 1,933 1,984 (1) Interest expense is net of intercompany interest eliminations of $2.6 million and $5.2 million for both the three and six months ended June 30, 2019 and 2018 , respectively.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information and Noncash Activities	6 Months Ended
	Jun. 30, 2019
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Supplemental Disclosures of Cash Flow Information and Noncash Activities	Supplemental Disclosures of Cash Flow Information and Noncash Activities Supplemental disclosures of cash flow information are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) Cash paid for income taxes, net of refunds received $ 2,684 $ 2,650 $ 2,684 $ 2,672 Cash paid for interest 118,481 93,861 139,331 102,410 Noncash Investing and Financing Activities On January 1, 2019, in conjunction with its adoption of ASU 2016-02, the Company recorded right-of-use assets and related lease liabilities of $203 million on its condensed consolidated balance sheet to represent its rights to underlying assets and future lease obligations. The Company did not engage in any other noncash investing and financing activities during the six months ended June 30, 2019 and 2018 .

Supplementary Condensed Consoli

Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers	Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers GLPI guarantees the Senior Notes issued by its subsidiaries, GLP Capital, L.P. and GLP Financing II, Inc. Each of the subsidiary issuers is 100% owned by GLPI. The guarantees of GLPI are full and unconditional. GLPI is not subject to any material or significant restrictions on its ability to obtain funds from its subsidiaries by dividend or loan or to transfer assets from such subsidiaries, except as provided by applicable law. None of GLPI's other subsidiaries guarantee the Senior Notes. Summarized balance sheets as of June 30, 2019 and December 31, 2018 and statements of income and cash flows for the three and six months ended June 30, 2019 and 2018 for GLPI as the parent guarantor, for GLP Capital, L.P. and GLP Financing II, Inc. as the subsidiary issuers and the other subsidiary non-issuers is presented below. At June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Assets Real estate investments, net $ — $ 2,570,516 $ 4,639,512 $ — $ 7,210,028 Property and equipment, used in operations, net — 17,583 79,636 — 97,219 Mortgage loans receivable — 246,000 57,684 — 303,684 Right-of-use assets and land rights, net — 200,793 662,134 — 862,927 Cash and cash equivalents — 3,229 21,510 — 24,739 Prepaid expenses — 1,820 762 361 2,943 Goodwill — — 16,067 — 16,067 Other intangible assets — — 9,577 — 9,577 Intercompany loan receivable — 193,595 — (193,595 ) — Intercompany transactions and investment in subsidiaries 2,158,687 5,156,092 2,587,975 (9,902,754 ) — Deferred tax assets — — 5,721 — 5,721 Other assets — 28,834 2,125 — 30,959 Total assets $ 2,158,687 $ 8,418,462 $ 8,082,703 $ (10,095,988 ) $ 8,563,864 Liabilities Accounts payable $ — $ 119 $ 52 $ — $ 171 Accrued expenses — 1,016 5,762 — 6,778 Accrued interest — 53,340 — — 53,340 Accrued salaries and wages — 6,187 1,933 — 8,120 Gaming, property, and other taxes — 287 679 — 966 Income taxes — (73 ) (288 ) 361 — Lease liabilities — 107,611 94,487 — 202,098 Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts — 5,796,990 — — 5,796,990 Intercompany loan payable — — 193,595 (193,595 ) — Deferred rental revenue — 270,511 40,687 — 311,198 Deferred tax liabilities — — 233 233 Other liabilities — 23,787 1,496 — 25,283 Total liabilities — 6,259,775 338,636 (193,234 ) 6,405,177 Shareholders’ equity (deficit) Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019) — — — — — Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 shares issued and outstanding at June 30, 2019) 2,147 2,147 2,147 (4,294 ) 2,147 Additional paid-in capital 3,951,949 3,951,950 9,832,276 (13,784,226 ) 3,951,949 Retained accumulated (deficit) earnings (1,795,409 ) (1,795,410 ) (2,090,356 ) 3,885,766 (1,795,409 ) Total shareholders’ equity (deficit) 2,158,687 2,158,687 7,744,067 (9,902,754 ) 2,158,687 Total liabilities and shareholders’ equity (deficit) $ 2,158,687 $ 8,418,462 $ 8,082,703 $ (10,095,988 ) $ 8,563,864 Three months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 138,135 $ 110,428 $ — $ 248,563 Interest income from mortgaged real estate — 5,590 1,611 — 7,201 Total income from real estate — 143,725 112,039 — 255,764 Gaming, food, beverage and other — — 33,249 — 33,249 Total revenues — 143,725 145,288 — 289,013 Operating expenses Gaming, food, beverage and other — — 19,168 — 19,168 Land rights and ground lease expense — 10,770 4,459 — 15,229 General and administrative — 10,335 5,649 — 15,984 Depreciation — 38,911 28,954 — 67,865 Total operating expenses — 60,016 58,230 — 118,246 Income from operations — 83,709 87,058 — 170,767 Other income (expenses) Interest expense — (76,523 ) — — (76,523 ) Interest income — 248 — — 248 Intercompany dividends and interest — 128,514 4,999 (133,513 ) — Total other income (expenses) — 52,239 4,999 (133,513 ) (76,275 ) Income (loss) before income taxes — 135,948 92,057 (133,513 ) 94,492 Income tax expense — 196 1,263 — 1,459 Net income (loss) $ — $ 135,752 $ 90,794 $ (133,513 ) $ 93,033 Six months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 276,388 $ 219,853 $ — $ 496,241 Interest income from mortgage real estate — 11,181 3,213 — 14,394 Total income from real estate — 287,569 223,066 — 510,635 Gaming, food, beverage and other — — 66,242 — 66,242 Total revenues — 287,569 289,308 — 576,877 Operating expenses Gaming, food, beverage and other — — 38,190 — 38,190 Land rights and ground lease expense — 15,494 8,984 — 24,478 General and administrative — 21,847 11,377 — 33,224 Depreciation — 67,698 58,745 — 126,443 Loan impairment charges — — 13,000 — 13,000 Total operating expenses — 105,039 130,296 — 235,335 Income from operations — 182,530 159,012 — 341,542 Other income (expenses) Interest expense — (153,251 ) — — (153,251 ) Interest income — 337 — — 337 Intercompany dividends and interest — 247,908 3,428 (251,336 ) — Total other income (expenses) — 94,994 3,428 (251,336 ) (152,914 ) Income (loss) before income taxes — 277,524 162,440 (251,336 ) 188,628 Income tax expense — 265 2,320 — 2,585 Net income (loss) $ — $ 277,259 $ 160,120 $ (251,336 ) $ 186,043 Six months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Operating activities Net income (loss) $ — $ 277,259 $ 160,120 $ (251,336 ) $ 186,043 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization — 75,572 63,367 — 138,939 Amortization of debt issuance costs, bond premiums and original issuance discounts — 5,790 — — 5,790 Losses on dispositions of property — 7 6 — 13 Deferred income taxes — — (466 ) — (466 ) Stock-based compensation — 8,508 — — 8,508 Straight-line rent adjustments — 1,326 15,961 — 17,287 Loan impairment charges — — 13,000 — 13,000 (Increase) decrease, Prepaid expenses and other assets — (2,999 ) 37 650 (2,312 ) Intercompany — (79 ) 79 — — Increase (decrease), Accounts payable — (2,350 ) 10 — (2,340 ) Accrued expenses — 478 827 — 1,305 Accrued interest — 8,079 — — 8,079 Accrued salaries and wages — (8,441 ) (449 ) — (8,890 ) Gaming, property and other taxes — (142 ) 44 — (98 ) Income taxes — (71 ) 721 (650 ) — Other liabilities — (749 ) (28 ) — (777 ) Net cash provided by (used in) operating activities — 362,188 253,229 (251,336 ) 364,081 Investing activities Capital maintenance expenditures — (4 ) (1,543 ) — (1,547 ) Proceeds from sale of property and equipment — 182 8 — 190 Net cash provided by (used in) investing activities — 178 (1,535 ) — (1,357 ) Financing activities Dividends paid (292,414 ) — — — (292,414 ) Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options (9,057 ) — — — (9,057 ) Proceeds from issuance of long-term debt — 155,000 — — 155,000 Financing costs — (236 ) — — (236 ) Repayments of long-term debt — (217,061 ) — — (217,061 ) Intercompany financing 301,471 (301,472 ) (251,335 ) 251,336 — Net cash (used in) provided by financing activities — (363,769 ) (251,335 ) 251,336 (363,768 ) Net (decrease) increase in cash and cash equivalents — (1,403 ) 359 — (1,044 ) Cash and cash equivalents at beginning of period — 4,632 21,151 — 25,783 Cash and cash equivalents at end of period $ — $ 3,229 $ 21,510 $ — $ 24,739 At December 31, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Assets Real estate investments, net $ — $ 2,637,404 $ 4,694,056 $ — $ 7,331,460 Land rights, net — 100,938 572,269 — 673,207 Property and equipment, used in operations, net — 18,577 82,307 — 100,884 Mortgage loans receivable — 246,000 57,684 — 303,684 Cash and cash equivalents — 4,632 21,151 — 25,783 Prepaid expenses — 27,071 2,885 1,011 30,967 Goodwill — — 16,067 — 16,067 Other intangible assets — — 9,577 — 9,577 Loan receivable — — 13,000 — 13,000 Intercompany loan receivable — 193,595 — (193,595 ) — Intercompany transactions and investment in subsidiaries 2,265,607 5,247,229 2,697,241 (10,210,077 ) — Deferred tax assets — — 5,178 — 5,178 Other assets — 47,378 20,108 — 67,486 Total assets $ 2,265,607 $ 8,522,824 $ 8,191,523 $ (10,402,661 ) $ 8,577,293 Liabilities Accounts payable $ — $ 2,469 $ 42 $ — $ 2,511 Accrued expenses — 23,587 6,710 — 30,297 Accrued interest — 45,261 — — 45,261 Accrued salaries and wages — 14,628 2,382 — 17,010 Gaming, property, and other taxes — 24,055 18,824 — 42,879 Income taxes — (2 ) (1,009 ) 1,011 — Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts — 5,853,497 — — 5,853,497 Intercompany loan payable — — 193,595 (193,595 ) — Deferred rental revenue — 269,185 24,726 — 293,911 Deferred tax liabilities — — 261 — 261 Other liabilities — 24,536 1,523 — 26,059 Total liabilities — 6,257,216 247,054 (192,584 ) 6,311,686 Shareholders’ equity (deficit) Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at December 31, 2018) — — — — — Common stock ($.01 par value, 500,000,000 shares authorized, 214,211,932 shares issued and outstanding at December 31, 2018) 2,142 2,142 2,142 (4,284 ) 2,142 Additional paid-in capital 3,952,503 3,952,506 9,832,830 (13,785,336 ) 3,952,503 Retained accumulated (deficit) earnings (1,689,038 ) (1,689,040 ) (1,890,503 ) 3,579,543 (1,689,038 ) Total shareholders’ equity (deficit) 2,265,607 2,265,608 7,944,469 (10,210,077 ) 2,265,607 Total liabilities and shareholders’ equity (deficit) $ 2,265,607 $ 8,522,824 $ 8,191,523 $ (10,402,661 ) $ 8,577,293 Three months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non- Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 101,767 $ 68,098 $ — $ 169,865 Income from direct financing lease — — 26,984 — 26,984 Real estate taxes paid by tenants — 11,176 10,307 — 21,483 Total income from real estate — 112,943 105,389 — 218,332 Gaming, food, beverage and other — — 35,889 — 35,889 Total revenues — 112,943 141,278 — 254,221 Operating expenses Gaming, food, beverage and other — — 20,407 — 20,407 Real estate taxes — 11,195 10,605 — 21,800 Land rights and ground lease expense — 1,929 4,515 — 6,444 General and administrative — 19,016 5,790 — 24,806 Depreciation — 23,190 4,333 — 27,523 Total operating expenses — 55,330 45,650 — 100,980 Income from operations — 57,613 95,628 — 153,241 Other income (expenses) Interest expense — (57,055 ) — — (57,055 ) Interest income — 404 487 — 891 Losses on debt extinguishment — (3,473 ) — — (3,473 ) Intercompany dividends and interest — 109,988 4,898 (114,886 ) — Total other income (expenses) — 49,864 5,385 (114,886 ) (59,637 ) Income (loss) before income taxes — 107,477 101,013 (114,886 ) 93,604 Income tax expense — 228 1,378 — 1,606 Net income (loss) $ — $ 107,249 $ 99,635 $ (114,886 ) $ 91,998 Six months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non- Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 203,587 $ 135,683 $ — $ 339,270 Income from direct financing lease — — 45,605 — 45,605 Real estate taxes paid by tenants — 22,076 20,685 — 42,761 Total income from real estate — 225,663 201,973 — 427,636 Gaming, food, beverage and other — — 70,635 — 70,635 Total revenues — 225,663 272,608 — 498,271 Operating expenses Gaming, food, beverage and other — — 40,065 — 40,065 Real estate taxes — 22,114 21,281 — 43,395 Land rights and ground lease expense — 3,948 9,028 — 12,976 General and administrative — 29,937 11,329 — 41,266 Depreciation — 46,791 8,686 — 55,477 Total operating expenses — 102,790 90,389 — 193,179 Income from operations — 122,873 182,219 — 305,092 Other income (expenses) Interest expense — (111,123 ) — — (111,123 ) Interest income — 404 968 — 1,372 Losses on debt extinguishment — (3,473 ) — — (3,473 ) Intercompany dividends and interest — 217,091 4,583 (221,674 ) — Total other income (expenses) — 102,899 5,551 (221,674 ) (113,224 ) Income (loss) before income taxes — 225,772 187,770 (221,674 ) 191,868 Income tax expense — 399 2,699 — 3,098 Net income (loss) $ — $ 225,373 $ 185,071 $ (221,674 ) $ 188,770 Six months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Operating activities Net income (loss) $ — $ 225,373 $ 185,071 $ (221,674 ) $ 188,770 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization — 47,624 13,308 — 60,932 Amortization of debt issuance costs — 6,296 — — 6,296 Losses on dispositions of property — (9 ) 234 — 225 Deferred income taxes — — (117 ) — (117 ) Stock-based compensation — 4,603 — — 4,603 Straight-line rent adjustments — 28,655 4,578 — 33,233 Losses on debt extinguishment — 3,473 — — 3,473 (Increase) decrease, Prepaid expenses and other assets — (2,146 ) (50 ) 1,073 (1,123 ) Intercompany — 183 (183 ) — — (Decrease) increase, 0 0 0 Accounts payable — (450 ) 196 — (254 ) Accrued expenses — (39 ) 196 — 157 Accrued interest — 2,367 — — 2,367 Accrued salaries and wages — 7,544 (937 ) — 6,607 Gaming, property and other taxes — (190 ) 71 — (119 ) Income taxes — 125 948 (1,073 ) — Other liabilities — 992 (420 ) — 572 Net cash provided by (used in) operating activities — 324,401 202,895 (221,674 ) 305,622 Investing activities Capital project expenditures — (14 ) — — (14 ) Capital maintenance expenditures — (51 ) (1,933 ) — (1,984 ) Proceeds from sale of property and equipment — 210 17 — 227 Collection of principal payments on investment in direct financing lease — — 29,239 — 29,239 Net cash provided by investing activities — 145 27,323 — 27,468 Financing activities Dividends paid (269,537 ) — — — (269,537 ) Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options (2,905 ) — — — (2,905 ) Proceeds from issuance of long-term debt — 1,000,000 — — 1,000,000 Financing costs — (19,745 ) — — (19,745 ) Repayments of long-term debt — (923,601 ) — — (923,601 ) Premium and related costs paid on tender of senior unsecured notes — (1,884 ) — — (1,884 ) Intercompany financing 272,442 (272,444 ) (221,672 ) 221,674 — Net cash (used in) provided by financing activities — (217,674 ) (221,672 ) 221,674 (217,672 ) Net increase in cash and cash equivalents — 106,872 8,546 — 115,418 Cash and cash equivalents at beginning of period — 6,734 22,320 — 29,054 Cash and cash equivalents at end of period $ — $ 113,606 $ 30,866 $ — $ 144,472

Receivables Receivables (Polici

Receivables Receivables (Policies)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Impaired Receivables, Policy	The Company evaluates loans for impairment when it is probable that it will not be able to collect all amounts due according to contractual terms. All amounts due under the contractual terms means that both contractual interest payments and contractual principal payments of a loan will be collected as scheduled in the loan agreement. Indicators of impairment may include delinquent payments, a decline in the credit worthiness of a debtor, or a decline in the underlying property/tenant’s performance. The Company measures loan impairment based upon the present value of expected future cash flows discounted at the loan’s original effective interest rate. The determination of whether loans are impaired involves judgments and assumptions based on objective and subjective factors. If an impairment occurs, the Company will reduce the carrying value of the loan and record a corresponding charge to net income.

Lease Assets and Lease Liabil_2

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Policies)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lessee, Leases, Policy	The Company determines whether a contract is or contains a lease at its inception. A lease is defined as the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Right-of-use assets and lease liabilities are recorded on the Company's condensed consolidated balance sheet at the lease commencement date for operating leases in which the Company acts as lessee. Right-of-use assets represent the Company's rights to use underlying assets for the term of the lease and lease liabilities represent the Company's future obligations under the lease agreement. Right-of-use assets and lease liabilities are recognized at the lease commencement date based upon the estimated present value of the lease payments. As the rate implicit in the Company's leases cannot readily be determined, the Company utilizes its estimated incremental borrowing rate to determine the present value of its lease payments. Consideration is also given to the Company's recent debt issuances, as well as publicly available data for instruments with similar characteristics when determining the incremental borrowing rates of the Company's leases. The Company includes options to extend the lease in its lease term, when it is reasonably certain that the Company will exercise those renewal options. In the instance of the Company's ground leases associated with leased properties, the Company has included all available renewal options in the lease term, as it intends to renew these leases indefinitely. The Company accounts for the lease and nonlease components of these triple-net tenant leases as a single lease component. Leases with a term of 12 months or less are not recorded on the Company's condensed consolidated balance sheet. Right-of-use assets and land rights are monitored for potential impairment in much the same way as the Company's real estate assets, using the impairment model in ASC 360 - Property, Plant and Equipment . If the Company determines the carrying amount of a right-of-use asset or land right is not recoverable, it would recognize an impairment charge equivalent to the amount required to reduce the carrying value of the asset to its estimated fair value, calculated in accordance with GAAP.

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities (Policies)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities, Policy	Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are classified based upon the level of judgment associated with the inputs used to measure their fair value. ASC 820 - Fair Value Measurements and Disclosures ("ASC 820") establishes a hierarchy that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach, and cost approach). The levels of the hierarchy related to the subjectivity of the valuation inputs are described below: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets, such as interest rates and yield curves that are observable at commonly quoted intervals. • Level 3: Unobservable inputs that reflect the reporting entity's own assumptions, as there is little, if any, related market activity. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Policies)	6 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Revenue Recognition, Policy	The Company may periodically loan funds to casino owner-operators pursuant to secured mortgage loans for the purchase of gaming related properties. Interest income related to mortgage loans receivable is recorded as revenue from mortgaged real estate within the Company's condensed consolidated statements of income in the period earned. At June 30, 2019, the Company had financial interests in two casino properties, Belterra Park and Lumière Place, pursuant to the secured mortgage loans made by the Company to the respective casino owner-operators, Boyd and Eldorado. Gaming revenue generated by the TRS Properties mainly consists of revenue from slot machines, and to a lesser extent, table game and poker revenue. Gaming revenue from slot machines is the aggregate net difference between gaming wins and losses with liabilities recognized for funds deposited by customers before gaming play occurs, for "ticket-in, ticket-out" coupons in the customers’ possession, and for accruals related to the anticipated payout of progressive jackpots. Progressive slot machines, which contain base jackpots that increase at a progressive rate based on the number of coins played, are charged to revenue as the amount of the jackpots increases. Table game gaming revenue is the aggregate of table drop adjusted for the change in aggregate table chip inventory. Table drop is the total dollar amount of the currency, coins, chips, tokens, outstanding counter checks (markers), and front money that are removed from the live gaming tables. Additionally, food and beverage revenue is recognized as services are performed. Gaming revenue is recognized net of certain sales incentives, including promotional allowances in accordance with ASC 606 - Revenue from Contracts with Customers . The Company also defers a portion of the revenue received from customers (who participate in the points-based loyalty programs) at the time of play and attributed to the awarded points until a later period when the points are redeemed or forfeited. The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractually fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectability is reasonably assured. Additionally, percentage rent that is fixed and determinable at the lease inception date is recorded on a straight-line basis over the lease term, resulting in the recognition of deferred rental revenue on the Company’s condensed consolidated balance sheets. Deferred rental revenue is amortized to rental revenue on a straight-line basis over the remainder of the lease term. The lease term includes the initial non-cancelable lease term and any reasonably assured renewable periods. Contingent rental income that is not fixed and determinable at lease inception is recognized only when the lessee achieves the specified target. Recognition of rental income commences when control of the facility has been transferred to the tenant.
Gaming Taxes, Policy	For the TRS Properties, the Company is subject to gaming taxes based on gross gaming revenues in the jurisdictions in which it operates. The Company recognizes gaming tax expense based on the statutorily required percentage of revenue that is required to be paid to state and local jurisdictions in the states where wagering occurs. The Company records gaming taxes at the Company’s estimated effective gaming tax rate for the year, considering estimated taxable gaming revenue and the applicable rates. Such estimates are adjusted each interim period. If gaming tax rates change during the year, such changes are applied prospectively in the determination of gaming tax expense in future interim periods.

Earnings per Share Earnings p_2

Earnings per Share Earnings per Share (Policies)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	The Company calculates earnings per share ("EPS") in accordance with ASC 260 - Earnings per Share ("ASC 260" ) . Basic EPS is computed by dividing net income applicable to common stock by the weighted-average number of common shares outstanding during the period, excluding net income attributable to participating securities (unvested restricted stock awards). Diluted EPS reflects the additional dilution for all potentially-dilutive securities such as stock options, unvested restricted shares and unvested performance-based restricted shares. In accordance with ASC 260, the Company includes all performance-based restricted shares that would have vested based upon the Company’s performance at quarter-end in the calculation of diluted EPS. Diluted EPS for the Company's common stock is computed using the more dilutive of the two-class method or the treasury stock method.

Stock Based Compensation Stock-

Stock Based Compensation Stock-Based Compensation (Policies)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	The Company accounts for stock compensation under ASC 718 - Compensation - Stock Compensation, which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. This expense is recognized ratably over the requisite service period following the date of grant. The fair value of the Company's time-based restricted stock awards is equivalent to the closing stock price on the day of grant. The Company utilizes a third party valuation firm to measure the fair value of performance-based restricted stock awards at grant date using the Monte Carlo model.

Real Estate Investments (Tables

Real Estate Investments (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Schedule of Real Estate Investments, Net	Real estate investments, net, represents investments in 42 rental properties and the corporate headquarters building and is summarized as follows: June 30, December 31, (in thousands) Land and improvements $ 2,552,285 $ 2,552,475 Building and improvements 5,749,212 5,762,071 Total real estate investments 8,301,497 8,314,546 Less accumulated depreciation (1,091,469 ) (983,086 ) Real estate investments, net $ 7,210,028 $ 7,331,460

Property and Equipment Used i_2

Property and Equipment Used in Operations (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment Used in Operations, Net	Property and equipment used in operations, net, consists of the following and primarily represents the assets utilized in the TRS Properties: June 30, December 31, (in thousands) Land and improvements $ 30,463 $ 30,431 Building and improvements 116,779 116,776 Furniture, fixtures, and equipment 118,159 117,247 Construction in progress 527 284 Total property and equipment 265,928 264,738 Less accumulated depreciation (168,709 ) (163,854 ) Property and equipment, net $ 97,219 $ 100,884

Lease Assets and Lease Liabil_3

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of the Company's Right-of Use Assets and Land Rights, Net	Components of the Company's right-of use assets and land rights, net are detailed below (in thousands): June 30, 2019 Right-of use assets - operating leases $ 202,215 Land rights, net 660,712 Right-of-use assets and land rights, net $ 862,927
Schedule of Land Rights, Net	Land rights net, consist of the following: June 30, December 31, (in thousands) Land rights $ 694,077 $ 700,997 Less accumulated amortization (33,365 ) (27,790 ) Land rights, net $ 660,712 $ 673,207
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of June 30, 2019 , estimated future amortization expense related to the Company’s land rights by fiscal year is as follows (in thousands): Year ending December 31, 2019 (remainder of year) $ 6,040 2020 12,081 2021 12,081 2022 12,081 2023 12,081 Thereafter 606,348 Total $ 660,712
Lessee, Operating Lease, Liability, Maturity	At June 30, 2019 , maturities of the Company's operating lease liabilities were as follows (in thousands): Year ending December 31, 2019 (remainder of year) $ 7,800 2020 15,282 2021 15,133 2022 15,026 2023 15,005 Thereafter 685,974 Total lease payments $ 754,220 Less: interest (552,122 ) Present value of lease liabilities $ 202,098
Components of Lease Expense	Supplemental balance sheet information related to the Company's operating leases was as follows: June 30, 2019 Weighted average remaining lease term - operating leases 51.39 years Weighted average discount rate - operating leases 6.7% Supplemental cash flow information related to the Company's operating leases was as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (in thousands) Cash paid for amounts included in the measurement of leases liabilities: Operating cash flows from operating leases (1) $ 555 $ 1,111 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 287 $ 287 (1) The Company's cash paid for operating leases is significantly less than the lease cost for the same period due to the majority of the Company's ground lease rent being paid directly to the landlords by the Company's tenants. Although GLPI expends no cash related to these leases, they are required to be grossed up in the Company's financial statements under ASC 842. The components of lease expense were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (in thousands) Operating lease cost $ 3,920 $ 7,813 Variable lease cost 2,068 4,504 Short-term lease cost 273 511 Amortization of land right assets 9,406 12,496 Total lease cost $ 15,667 $ 25,324

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt is as follows: June 30, December 31, (in thousands) Unsecured $1,175 million revolver $ 340,000 $ 402,000 Unsecured term loan A-1 525,000 525,000 $1,000 million 4.875% senior unsecured notes due November 2020 1,000,000 1,000,000 $400 million 4.375% senior unsecured notes due April 2021 400,000 400,000 $500 million 5.375% senior unsecured notes due November 2023 500,000 500,000 $850 million 5.25% senior unsecured notes due June 2025 850,000 850,000 $975 million 5.375% senior unsecured notes due April 2026 975,000 975,000 $500 million 5.75% senior unsecured notes due June 2028 500,000 500,000 $750 million 5.30% senior unsecured notes due January 2029 750,000 750,000 Finance lease liability 1,052 1,112 Total long-term debt 5,841,052 5,903,112 Less: unamortized debt issuance costs, bond premiums and original issuance discounts (44,062 ) (49,615 ) Total long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts $ 5,796,990 $ 5,853,497
Schedule of future minimum repayments of long-term debt	The following is a schedule of future minimum repayments of long-term debt as of June 30, 2019 (in thousands): Within one year $ 126 2-3 years 1,925,271 4-5 years 840,298 Over 5 years 3,075,357 Total minimum payments $ 5,841,052

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of estimated fair values of financial instruments	The estimated fair values of the Company’s financial instruments are as follows (in thousands): June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents 24,739 24,739 25,783 25,783 Deferred compensation plan assets 26,896 26,896 22,709 22,709 Mortgage loans receivable 303,684 303,684 303,684 303,684 Financial liabilities: Long-term debt: Senior unsecured credit facility 865,000 859,750 927,000 909,308 Senior unsecured notes 4,975,000 5,316,563 4,975,000 4,958,455
Schedule of assets measured at fair value on a nonrecurring basis	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis in periods subsequent to initial recognition. Assets measured at fair value on a nonrecurring basis during the six months ended June 30, 2019 are categorized in the table below based upon the lowest level of significant input to the valuation. There were no assets measured at fair value on a nonrecurring basis during the six months ended June 30, 2018 or liabilities measured at fair value on a nonrecurring basis during the six months ended June 30, 2019 and 2018. Level 1 Level 2 Level 3 Total Impairment Charges Recorded during the Six Months Ended June 30, 2019 (in thousands) Assets: Loan receivable — — — 13,000 Total assets measured at fair value on a nonrecurring basis $ — $ — $ — $ 13,000

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Operating Leases, Lease Income Details	Details of the Company's rental income for the three and six months ended June 30, 2019 was as follows (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Building base rent (1) $ 164,270 $ 327,607 Land base rent 47,543 94,984 Percentage rent 40,062 79,838 Total cash rental income $ 251,875 $ 502,429 Straight-line rent adjustments (8,643 ) (17,287 ) Ground rent in revenue 5,188 10,751 Other rental revenue 143 348 Total rental income $ 248,563 $ 496,241

Earnings per Share Earnings p_3

Earnings per Share Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of reconciliation of the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS	The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) Determination of shares: Weighted-average common shares outstanding 214,664 213,579 214,645 213,442 Assumed conversion of dilutive employee stock-based awards — 262 — 325 Assumed conversion of restricted stock awards 103 62 80 50 Assumed conversion of performance-based restricted stock awards 838 658 795 689 Diluted weighted-average common shares outstanding 215,605 214,561 215,520 214,506
Schedule of calculation of basic and diluted EPS for the Company's common stock	The following table presents the calculation of basic and diluted EPS for the Company’s common stock for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands, except per share and share data) Calculation of basic EPS: Net income $ 93,033 $ 91,998 $ 186,043 $ 188,770 Less: Net income allocated to participating securities (146 ) (129 ) (291 ) (265 ) Net income attributable to common shareholders $ 92,887 $ 91,869 $ 185,752 $ 188,505 Weighted-average common shares outstanding 214,664 213,579 214,645 213,442 Basic EPS $ 0.43 $ 0.43 $ 0.87 $ 0.88 Calculation of diluted EPS: Net income $ 93,033 $ 91,998 $ 186,043 $ 188,770 Diluted weighted-average common shares outstanding 215,605 214,561 215,520 214,506 Diluted EPS $ 0.43 $ 0.43 $ 0.86 $ 0.88 Antidilutive securities excluded from the computation of diluted earnings per share (in shares) — 169,324 1,397 195,529

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Dividends Declared	The following table lists the dividends declared and paid by the Company during the six months ended June 30, 2019 and 2018 : Declaration Date Shareholder Record Date Securities Class Dividend Per Share Period Covered Distribution Date Dividend Amount (in thousands) 2019 February 20, 2019 March 8, 2019 Common Stock $ 0.68 First Quarter 2019 March 22, 2019 $ 145,954 May 28, 2019 June 14, 2019 Common Stock $ 0.68 Second Quarter 2019 June 28, 2019 $ 145,985 2018 February 1, 2018 March 9, 2018 Common Stock $ 0.63 First Quarter 2018 March 23, 2018 $ 134,490 April 24, 2018 June 15, 2018 Common Stock $ 0.63 Second Quarter 2018 June 29, 2018 $ 134,631

Stock Based Compensation Stoc_2

Stock Based Compensation Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of restricted stock award activity	The following table contains information on restricted stock award activity for the six months ended June 30, 2019 : Number of Award Shares Outstanding at December 31, 2018 299,642 Granted 317,290 Released (280,386 ) Canceled — Outstanding at June 30, 2019 336,546
Schedule of performance-based restricted stock award activity	The following table contains information on performance-based restricted stock award activity for the six months ended June 30, 2019 : Number of Performance-Based Award Shares Outstanding at December 31, 2018 1,342,000 Granted 512,000 Released (447,334 ) Canceled (23,332 ) Outstanding at June 30, 2019 1,383,334

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present certain information with respect to the Company’s segments. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (in thousands) GLP Capital (1) TRS Properties Total GLP Capital (1) TRS Properties Total Total revenues $ 255,764 $ 33,249 $ 289,013 218,332 35,889 254,221 Income from operations 164,068 6,699 170,767 146,133 7,108 153,241 Interest expense 73,921 2,602 76,523 54,453 2,602 57,055 Income before income taxes 90,394 4,098 94,492 89,098 4,506 93,604 Income tax expense 197 1,262 1,459 228 1,378 1,606 Net income 90,197 2,836 93,033 88,870 3,128 91,998 Depreciation 66,067 1,798 67,865 25,172 2,351 27,523 Capital project expenditures — — — 14 — 14 Capital maintenance expenditures 2 1,015 1,017 3 1,159 1,162 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (in thousands) GLP Capital (1) TRS Properties Total GLP Capital (1) TRS Properties Total Total revenues $ 510,635 $ 66,242 $ 576,877 $ 427,636 $ 70,635 $ 498,271 Income from operations 328,937 12,605 341,542 291,007 14,085 305,092 Interest expense 148,048 5,203 153,251 105,920 5,203 111,123 Income before income taxes 181,225 7,403 188,628 182,985 8,883 191,868 Income tax expense 265 2,320 2,585 399 2,699 3,098 Net income 180,960 5,083 186,043 182,586 6,184 188,770 Depreciation 122,242 4,201 126,443 50,787 4,690 55,477 Capital project expenditures — — — 14 — 14 Capital maintenance expenditures 4 1,543 1,547 51 1,933 1,984 (1) Interest expense is net of intercompany interest eliminations of $2.6 million and $5.2 million for both the three and six months ended June 30, 2019 and 2018 , respectively.

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information and Noncash Activities (Tables)	6 Months Ended
	Jun. 30, 2019
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental disclosures of cash flow information are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) Cash paid for income taxes, net of refunds received $ 2,684 $ 2,650 $ 2,684 $ 2,672 Cash paid for interest 118,481 93,861 139,331 102,410

Supplementary Condensed Conso_2

Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of financial information for GLPI as the parent guarantor, for GLP Capital, L.P. and GLP Financing II, Inc. as the subsidiary issuers and the other subsidiary non-issuers	Summarized balance sheets as of June 30, 2019 and December 31, 2018 and statements of income and cash flows for the three and six months ended June 30, 2019 and 2018 for GLPI as the parent guarantor, for GLP Capital, L.P. and GLP Financing II, Inc. as the subsidiary issuers and the other subsidiary non-issuers is presented below. At June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Assets Real estate investments, net $ — $ 2,570,516 $ 4,639,512 $ — $ 7,210,028 Property and equipment, used in operations, net — 17,583 79,636 — 97,219 Mortgage loans receivable — 246,000 57,684 — 303,684 Right-of-use assets and land rights, net — 200,793 662,134 — 862,927 Cash and cash equivalents — 3,229 21,510 — 24,739 Prepaid expenses — 1,820 762 361 2,943 Goodwill — — 16,067 — 16,067 Other intangible assets — — 9,577 — 9,577 Intercompany loan receivable — 193,595 — (193,595 ) — Intercompany transactions and investment in subsidiaries 2,158,687 5,156,092 2,587,975 (9,902,754 ) — Deferred tax assets — — 5,721 — 5,721 Other assets — 28,834 2,125 — 30,959 Total assets $ 2,158,687 $ 8,418,462 $ 8,082,703 $ (10,095,988 ) $ 8,563,864 Liabilities Accounts payable $ — $ 119 $ 52 $ — $ 171 Accrued expenses — 1,016 5,762 — 6,778 Accrued interest — 53,340 — — 53,340 Accrued salaries and wages — 6,187 1,933 — 8,120 Gaming, property, and other taxes — 287 679 — 966 Income taxes — (73 ) (288 ) 361 — Lease liabilities — 107,611 94,487 — 202,098 Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts — 5,796,990 — — 5,796,990 Intercompany loan payable — — 193,595 (193,595 ) — Deferred rental revenue — 270,511 40,687 — 311,198 Deferred tax liabilities — — 233 233 Other liabilities — 23,787 1,496 — 25,283 Total liabilities — 6,259,775 338,636 (193,234 ) 6,405,177 Shareholders’ equity (deficit) Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019) — — — — — Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 shares issued and outstanding at June 30, 2019) 2,147 2,147 2,147 (4,294 ) 2,147 Additional paid-in capital 3,951,949 3,951,950 9,832,276 (13,784,226 ) 3,951,949 Retained accumulated (deficit) earnings (1,795,409 ) (1,795,410 ) (2,090,356 ) 3,885,766 (1,795,409 ) Total shareholders’ equity (deficit) 2,158,687 2,158,687 7,744,067 (9,902,754 ) 2,158,687 Total liabilities and shareholders’ equity (deficit) $ 2,158,687 $ 8,418,462 $ 8,082,703 $ (10,095,988 ) $ 8,563,864 Three months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 138,135 $ 110,428 $ — $ 248,563 Interest income from mortgaged real estate — 5,590 1,611 — 7,201 Total income from real estate — 143,725 112,039 — 255,764 Gaming, food, beverage and other — — 33,249 — 33,249 Total revenues — 143,725 145,288 — 289,013 Operating expenses Gaming, food, beverage and other — — 19,168 — 19,168 Land rights and ground lease expense — 10,770 4,459 — 15,229 General and administrative — 10,335 5,649 — 15,984 Depreciation — 38,911 28,954 — 67,865 Total operating expenses — 60,016 58,230 — 118,246 Income from operations — 83,709 87,058 — 170,767 Other income (expenses) Interest expense — (76,523 ) — — (76,523 ) Interest income — 248 — — 248 Intercompany dividends and interest — 128,514 4,999 (133,513 ) — Total other income (expenses) — 52,239 4,999 (133,513 ) (76,275 ) Income (loss) before income taxes — 135,948 92,057 (133,513 ) 94,492 Income tax expense — 196 1,263 — 1,459 Net income (loss) $ — $ 135,752 $ 90,794 $ (133,513 ) $ 93,033 Six months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 276,388 $ 219,853 $ — $ 496,241 Interest income from mortgage real estate — 11,181 3,213 — 14,394 Total income from real estate — 287,569 223,066 — 510,635 Gaming, food, beverage and other — — 66,242 — 66,242 Total revenues — 287,569 289,308 — 576,877 Operating expenses Gaming, food, beverage and other — — 38,190 — 38,190 Land rights and ground lease expense — 15,494 8,984 — 24,478 General and administrative — 21,847 11,377 — 33,224 Depreciation — 67,698 58,745 — 126,443 Loan impairment charges — — 13,000 — 13,000 Total operating expenses — 105,039 130,296 — 235,335 Income from operations — 182,530 159,012 — 341,542 Other income (expenses) Interest expense — (153,251 ) — — (153,251 ) Interest income — 337 — — 337 Intercompany dividends and interest — 247,908 3,428 (251,336 ) — Total other income (expenses) — 94,994 3,428 (251,336 ) (152,914 ) Income (loss) before income taxes — 277,524 162,440 (251,336 ) 188,628 Income tax expense — 265 2,320 — 2,585 Net income (loss) $ — $ 277,259 $ 160,120 $ (251,336 ) $ 186,043 Six months ended June 30, 2019 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Operating activities Net income (loss) $ — $ 277,259 $ 160,120 $ (251,336 ) $ 186,043 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization — 75,572 63,367 — 138,939 Amortization of debt issuance costs, bond premiums and original issuance discounts — 5,790 — — 5,790 Losses on dispositions of property — 7 6 — 13 Deferred income taxes — — (466 ) — (466 ) Stock-based compensation — 8,508 — — 8,508 Straight-line rent adjustments — 1,326 15,961 — 17,287 Loan impairment charges — — 13,000 — 13,000 (Increase) decrease, Prepaid expenses and other assets — (2,999 ) 37 650 (2,312 ) Intercompany — (79 ) 79 — — Increase (decrease), Accounts payable — (2,350 ) 10 — (2,340 ) Accrued expenses — 478 827 — 1,305 Accrued interest — 8,079 — — 8,079 Accrued salaries and wages — (8,441 ) (449 ) — (8,890 ) Gaming, property and other taxes — (142 ) 44 — (98 ) Income taxes — (71 ) 721 (650 ) — Other liabilities — (749 ) (28 ) — (777 ) Net cash provided by (used in) operating activities — 362,188 253,229 (251,336 ) 364,081 Investing activities Capital maintenance expenditures — (4 ) (1,543 ) — (1,547 ) Proceeds from sale of property and equipment — 182 8 — 190 Net cash provided by (used in) investing activities — 178 (1,535 ) — (1,357 ) Financing activities Dividends paid (292,414 ) — — — (292,414 ) Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options (9,057 ) — — — (9,057 ) Proceeds from issuance of long-term debt — 155,000 — — 155,000 Financing costs — (236 ) — — (236 ) Repayments of long-term debt — (217,061 ) — — (217,061 ) Intercompany financing 301,471 (301,472 ) (251,335 ) 251,336 — Net cash (used in) provided by financing activities — (363,769 ) (251,335 ) 251,336 (363,768 ) Net (decrease) increase in cash and cash equivalents — (1,403 ) 359 — (1,044 ) Cash and cash equivalents at beginning of period — 4,632 21,151 — 25,783 Cash and cash equivalents at end of period $ — $ 3,229 $ 21,510 $ — $ 24,739 At December 31, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Assets Real estate investments, net $ — $ 2,637,404 $ 4,694,056 $ — $ 7,331,460 Land rights, net — 100,938 572,269 — 673,207 Property and equipment, used in operations, net — 18,577 82,307 — 100,884 Mortgage loans receivable — 246,000 57,684 — 303,684 Cash and cash equivalents — 4,632 21,151 — 25,783 Prepaid expenses — 27,071 2,885 1,011 30,967 Goodwill — — 16,067 — 16,067 Other intangible assets — — 9,577 — 9,577 Loan receivable — — 13,000 — 13,000 Intercompany loan receivable — 193,595 — (193,595 ) — Intercompany transactions and investment in subsidiaries 2,265,607 5,247,229 2,697,241 (10,210,077 ) — Deferred tax assets — — 5,178 — 5,178 Other assets — 47,378 20,108 — 67,486 Total assets $ 2,265,607 $ 8,522,824 $ 8,191,523 $ (10,402,661 ) $ 8,577,293 Liabilities Accounts payable $ — $ 2,469 $ 42 $ — $ 2,511 Accrued expenses — 23,587 6,710 — 30,297 Accrued interest — 45,261 — — 45,261 Accrued salaries and wages — 14,628 2,382 — 17,010 Gaming, property, and other taxes — 24,055 18,824 — 42,879 Income taxes — (2 ) (1,009 ) 1,011 — Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts — 5,853,497 — — 5,853,497 Intercompany loan payable — — 193,595 (193,595 ) — Deferred rental revenue — 269,185 24,726 — 293,911 Deferred tax liabilities — — 261 — 261 Other liabilities — 24,536 1,523 — 26,059 Total liabilities — 6,257,216 247,054 (192,584 ) 6,311,686 Shareholders’ equity (deficit) Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at December 31, 2018) — — — — — Common stock ($.01 par value, 500,000,000 shares authorized, 214,211,932 shares issued and outstanding at December 31, 2018) 2,142 2,142 2,142 (4,284 ) 2,142 Additional paid-in capital 3,952,503 3,952,506 9,832,830 (13,785,336 ) 3,952,503 Retained accumulated (deficit) earnings (1,689,038 ) (1,689,040 ) (1,890,503 ) 3,579,543 (1,689,038 ) Total shareholders’ equity (deficit) 2,265,607 2,265,608 7,944,469 (10,210,077 ) 2,265,607 Total liabilities and shareholders’ equity (deficit) $ 2,265,607 $ 8,522,824 $ 8,191,523 $ (10,402,661 ) $ 8,577,293 Three months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non- Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 101,767 $ 68,098 $ — $ 169,865 Income from direct financing lease — — 26,984 — 26,984 Real estate taxes paid by tenants — 11,176 10,307 — 21,483 Total income from real estate — 112,943 105,389 — 218,332 Gaming, food, beverage and other — — 35,889 — 35,889 Total revenues — 112,943 141,278 — 254,221 Operating expenses Gaming, food, beverage and other — — 20,407 — 20,407 Real estate taxes — 11,195 10,605 — 21,800 Land rights and ground lease expense — 1,929 4,515 — 6,444 General and administrative — 19,016 5,790 — 24,806 Depreciation — 23,190 4,333 — 27,523 Total operating expenses — 55,330 45,650 — 100,980 Income from operations — 57,613 95,628 — 153,241 Other income (expenses) Interest expense — (57,055 ) — — (57,055 ) Interest income — 404 487 — 891 Losses on debt extinguishment — (3,473 ) — — (3,473 ) Intercompany dividends and interest — 109,988 4,898 (114,886 ) — Total other income (expenses) — 49,864 5,385 (114,886 ) (59,637 ) Income (loss) before income taxes — 107,477 101,013 (114,886 ) 93,604 Income tax expense — 228 1,378 — 1,606 Net income (loss) $ — $ 107,249 $ 99,635 $ (114,886 ) $ 91,998 Six months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non- Issuers Eliminations Consolidated (in thousands) Revenues Rental income $ — $ 203,587 $ 135,683 $ — $ 339,270 Income from direct financing lease — — 45,605 — 45,605 Real estate taxes paid by tenants — 22,076 20,685 — 42,761 Total income from real estate — 225,663 201,973 — 427,636 Gaming, food, beverage and other — — 70,635 — 70,635 Total revenues — 225,663 272,608 — 498,271 Operating expenses Gaming, food, beverage and other — — 40,065 — 40,065 Real estate taxes — 22,114 21,281 — 43,395 Land rights and ground lease expense — 3,948 9,028 — 12,976 General and administrative — 29,937 11,329 — 41,266 Depreciation — 46,791 8,686 — 55,477 Total operating expenses — 102,790 90,389 — 193,179 Income from operations — 122,873 182,219 — 305,092 Other income (expenses) Interest expense — (111,123 ) — — (111,123 ) Interest income — 404 968 — 1,372 Losses on debt extinguishment — (3,473 ) — — (3,473 ) Intercompany dividends and interest — 217,091 4,583 (221,674 ) — Total other income (expenses) — 102,899 5,551 (221,674 ) (113,224 ) Income (loss) before income taxes — 225,772 187,770 (221,674 ) 191,868 Income tax expense — 399 2,699 — 3,098 Net income (loss) $ — $ 225,373 $ 185,071 $ (221,674 ) $ 188,770 Six months ended June 30, 2018 Parent Guarantor Subsidiary Issuers Other Subsidiary Non-Issuers Eliminations Consolidated (in thousands) Operating activities Net income (loss) $ — $ 225,373 $ 185,071 $ (221,674 ) $ 188,770 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization — 47,624 13,308 — 60,932 Amortization of debt issuance costs — 6,296 — — 6,296 Losses on dispositions of property — (9 ) 234 — 225 Deferred income taxes — — (117 ) — (117 ) Stock-based compensation — 4,603 — — 4,603 Straight-line rent adjustments — 28,655 4,578 — 33,233 Losses on debt extinguishment — 3,473 — — 3,473 (Increase) decrease, Prepaid expenses and other assets — (2,146 ) (50 ) 1,073 (1,123 ) Intercompany — 183 (183 ) — — (Decrease) increase, 0 0 0 Accounts payable — (450 ) 196 — (254 ) Accrued expenses — (39 ) 196 — 157 Accrued interest — 2,367 — — 2,367 Accrued salaries and wages — 7,544 (937 ) — 6,607 Gaming, property and other taxes — (190 ) 71 — (119 ) Income taxes — 125 948 (1,073 ) — Other liabilities — 992 (420 ) — 572 Net cash provided by (used in) operating activities — 324,401 202,895 (221,674 ) 305,622 Investing activities Capital project expenditures — (14 ) — — (14 ) Capital maintenance expenditures — (51 ) (1,933 ) — (1,984 ) Proceeds from sale of property and equipment — 210 17 — 227 Collection of principal payments on investment in direct financing lease — — 29,239 — 29,239 Net cash provided by investing activities — 145 27,323 — 27,468 Financing activities Dividends paid (269,537 ) — — — (269,537 ) Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options (2,905 ) — — — (2,905 ) Proceeds from issuance of long-term debt — 1,000,000 — — 1,000,000 Financing costs — (19,745 ) — — (19,745 ) Repayments of long-term debt — (923,601 ) — — (923,601 ) Premium and related costs paid on tender of senior unsecured notes — (1,884 ) — — (1,884 ) Intercompany financing 272,442 (272,444 ) (221,672 ) 221,674 — Net cash (used in) provided by financing activities — (217,674 ) (221,672 ) 221,674 (217,672 ) Net increase in cash and cash equivalents — 106,872 8,546 — 115,418 Cash and cash equivalents at beginning of period — 6,734 22,320 — 29,054 Cash and cash equivalents at end of period $ — $ 113,606 $ 30,866 $ — $ 144,472

Business and Operations (Detail

Business and Operations (Details) $ in Millions	Oct. 15, 2018USD ($)	Oct. 01, 2018USD ($)	Apr. 30, 2016USD ($)	Jun. 30, 2019statepropertyrenewaloption
Business and Operations
Number of facilities whose real estate property is Included in entity portfolio				46
Number of real estate properties				42
Number of states across which the portfolio of properties is diversified | state				16
Real estate, occupancy percentage				100.00%
Penn National Gaming Inc. Master Lease
Business and Operations
Operating lease, initial term of contract (in years)				15 years
Operating leases, number of renewal options | renewaloption				4
Operating lease, renewal term (in years)				5 years
Number of real estate properties				20
Amended Pinnacle Entertainment, Inc. Master Lease
Business and Operations
Operating lease, initial term of contract (in years)				10 years
Operating leases, number of renewal options | renewaloption				5
Operating lease, renewal term (in years)				5 years
Number of real estate properties				12
Boyd Gaming Corporation Master Lease
Business and Operations
Operating lease, initial term of contract (in years)				10 years
Operating leases, number of renewal options | renewaloption				5
Operating lease, renewal term (in years)				5 years
Number of real estate properties				3
Eldorado Master Lease
Business and Operations
Operating lease, initial term of contract (in years)				15 years
Operating leases, number of renewal options | renewaloption				4
Operating lease, renewal term (in years)				5 years
Number of real estate properties				5
Pinnacle Entertainment, Inc.
Business and Operations
Consideration paid for acquisition of real estate assets | $			$ 4,800
Plainridge Park Casino
Business and Operations
Payments to Acquire Real Estate, Excluding Transaction Costs | $	$ 250
Tropicana Entertainment Inc.
Business and Operations
Payments to Acquire Real Estate, Excluding Transaction Costs | $		$ 964
Eldorado Resorts, Inc.
Business and Operations
Number of facilities whose real estate property is Included in entity portfolio				6
Boyd Gaming Corporation
Business and Operations
Number of facilities whose real estate property is Included in entity portfolio				4
Penn National Gaming Inc
Business and Operations
Number of real estate properties				33
Eldorado Resorts, Inc. | Real Estate Loan
Business and Operations
Payment to acquire finance receivables | $		$ 246
Boyd Gaming Corporation | Real Estate Loan
Business and Operations
Payment to acquire finance receivables | $	$ 57.7

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 862,927
Lease liabilities	$ 202,098
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 203,000
Lease liabilities		$ 203,000

Real Estate Investments (Detail

Real Estate Investments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)property	Dec. 31, 2018USD ($)
Real estate investments
Number of real estate properties | property	42
Total real estate investments	$ 8,301,497	$ 8,314,546
Less accumulated depreciation	(1,091,469)	(983,086)
Real estate investments, net	7,210,028	7,331,460
Land and improvements
Real estate investments
Total real estate investments	2,552,285	2,552,475
Building and improvements
Real estate investments
Total real estate investments	5,749,212	$ 5,762,071
Resorts Casino Tunica, MS | Building and improvements
Real estate investments
Real estate investments, net	0
Accelerated depreciation of real estate properties	$ 10,300

Property and Equipment Used i_3

Property and Equipment Used in Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 265,928	$ 264,738
Less accumulated depreciation	(168,709)	(163,854)
Property and equipment, net	97,219	100,884
Land and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	30,463	30,431
Building and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	116,779	116,776
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	118,159	117,247
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 527	$ 284

Receivables Receivables (Mortga

Receivables Receivables (Mortgage Loans Receivable) (Details) $ in Millions	Oct. 15, 2018USD ($)	Oct. 01, 2018USD ($)	Jun. 30, 2019property
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of casino properties company has financial interests in | property			2
Boyd Gaming Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, interest rate, stated percentage	11.11%		11.20%
Real Estate Loan | Eldorado Resorts, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment to acquire finance receivables		$ 246
Real Estate Loan | Boyd Gaming Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment to acquire finance receivables	$ 57.7
Secured Debt | Real Estate Loan | Eldorado Resorts, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment to acquire finance receivables		246
Secured Debt | Real Estate Loan | Boyd Gaming Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment to acquire finance receivables	57.7
Eldorado Resorts, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payments to Acquire Real Estate, Excluding Transaction Costs		$ 246
Boyd Gaming Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payments to Acquire Real Estate, Excluding Transaction Costs	$ 57.7
Until one-year anniversary | Eldorado Resorts, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, interest rate, stated percentage		9.09%
Until maturity | Eldorado Resorts, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, interest rate, stated percentage		9.27%

Receivables (Loan Receivable) (

Receivables (Loan Receivable) (Details) $ in Thousands	Mar. 13, 2017USD ($)	Jan. 31, 2014USD ($)	Jun. 30, 2019USD ($)renewaloption	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)renewaloption	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)renewaloption	Dec. 31, 2018USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loan impairment charges			$ 0	$ 0	$ 13,000	$ 0
Casino Queen
Loans and Leases Receivable Disclosure [Line Items]
Face amount of debt		$ 43,000
Debt instrument, term		5 years
Debt instrument, interest rate, stated percentage		7.00%
CQ Holding Company Inc. | Unsecured Debt
Loans and Leases Receivable Disclosure [Line Items]
Face amount of debt	$ 13,000
Debt instrument, term	5 years 6 months
Debt instrument, interest rate, stated percentage	15.00%
Interest Income, Paid-in-kind							$ 2,600
Casino Queen Lease
Loans and Leases Receivable Disclosure [Line Items]
Operating lease, initial term of contract (in years)			15 years		15 years		15 years
Operating leases, number of renewal options | renewaloption			4		4		4
Operating lease, renewal term (in years)			5 years		5 years		5 years
Loans receivable
Loans and Leases Receivable Disclosure [Line Items]
Loan receivable			$ 0		$ 0		$ 0	$ 13,000

Lease Assets and Lease Liabil_4

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Lease Assets) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use assets and land rights, net	$ 862,927
Right-of use assets - operating leases
Lessee, Lease, Description [Line Items]
Right-of-use assets and land rights, net	202,215
Land rights, net
Lessee, Lease, Description [Line Items]
Right-of-use assets and land rights, net	$ 660,712

Lease Assets and Lease Liabil_5

Lease Assets and Lease Liabilities Lease Assets and Lease LIabilities (Land Rights) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Land rights, net		$ 673,207,000
Minimum | Land rights, net
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, land rights, remaining amortization period	10 years
Maximum | Land rights, net
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, land rights, remaining amortization period	92 years
Land rights, net
Finite-Lived Intangible Assets [Line Items]
Land rights	$ 694,077,000	700,997,000
Less accumulated amortization	(33,365,000)	(27,790,000)
Land rights, net	660,712,000	$ 673,207,000
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2019	6,040,000
2020	12,081,000
2021	12,081,000
2022	12,081,000
2023	12,081,000
Thereafter	606,348,000
Land rights, net | Resorts Casino Tunica, MS
Finite-Lived Intangible Assets [Line Items]
Land rights, net	0
Accelerated amortization of land rights	$ 6,300,000

Lease Assets and Lease Liabil_6

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Lease Maturity Schedule) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019	$ 7,800
2020	15,282
2021	15,133
2022	15,026
2023	15,005
Thereafter	685,974
Total lease payments	754,220
Less: interest	(552,122)
Present value of lease liabilities	$ 202,098

Lease Assets and Lease Liabil_7

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Components of Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 3,920		$ 7,813
Variable lease cost	2,068		4,504
Short-term lease cost	273		511
Total lease cost	15,667		25,324
Operating leases, rent expense per ASC 840		$ 4,200		$ 8,500
Land rights, net
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 9,406		$ 12,496
Amortization of land rights		$ 2,700		$ 5,500

Lease Assets and Lease Liabil_8

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Supplemental Balance Sheet Information) (Details)	Jun. 30, 2019
Leases [Abstract]
Weighted average remaining lease term - operating leases	51 years 4 months 20 days
Weighted average discount rate - operating leases	6.70%

Lease Assets and Lease Liabil_9

Lease Assets and Lease Liabilities Lease Assets and Lease Liabilities (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases (1)	$ 555	$ 1,111
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 287	$ 287

Long-term Debt (Schedule of Deb

Long-term Debt (Schedule of Debt) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Long-term debt
Finance lease liability	$ 1,052,000
Capital lease obligations		$ 1,112,000
Total long-term debt	5,841,052,000	5,903,112,000
Less: unamortized debt issuance costs, bond premiums and original issuance discounts	(44,062,000)	(49,615,000)
Total long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	5,796,990,000	5,853,497,000
Unsecured $1,175 million revolver
Long-term debt
Long-term debt, gross	340,000,000	402,000,000
Unsecured term loan A-1
Long-term debt
Long-term debt, gross	525,000,000	525,000,000
$1,000 million 4.875% senior unsecured notes due November 2020
Long-term debt
Long-term debt, gross	1,000,000,000	1,000,000,000
Face amount of debt	$ 1,000,000,000	$ 1,000,000,000
Debt instrument, interest rate, stated percentage	4.875%	4.875%
$400 million 4.375% senior unsecured notes due April 2021
Long-term debt
Long-term debt, gross	$ 400,000,000	$ 400,000,000
Face amount of debt	$ 400,000,000	$ 400,000,000
Debt instrument, interest rate, stated percentage	4.375%	4.375%
$500 million 5.375% senior unsecured notes due November 2023
Long-term debt
Long-term debt, gross	$ 500,000,000	$ 500,000,000
Face amount of debt	$ 500,000,000	$ 500,000,000
Debt instrument, interest rate, stated percentage	5.375%	5.375%
$850 million 5.25% senior unsecured notes due June 2025
Long-term debt
Long-term debt, gross	$ 850,000,000	$ 850,000,000
Face amount of debt	$ 850,000,000	$ 850,000,000
Debt instrument, interest rate, stated percentage	5.25%	5.25%
$975 million 5.375% senior unsecured notes due April 2026
Long-term debt
Long-term debt, gross	$ 975,000,000	$ 975,000,000
Face amount of debt	$ 975,000,000	$ 975,000,000
Debt instrument, interest rate, stated percentage	5.375%	5.375%
$500 million 5.75% senior unsecured notes due June 2028
Long-term debt
Long-term debt, gross	$ 500,000,000	$ 500,000,000
Face amount of debt	$ 500,000,000	$ 500,000,000
Debt instrument, interest rate, stated percentage	5.75%	5.75%
$750 million 5.30% senior unsecured notes due January 2029
Long-term debt
Long-term debt, gross	$ 750,000,000	$ 750,000,000
Face amount of debt	$ 750,000,000	$ 750,000,000
Debt instrument, interest rate, stated percentage	5.30%	5.30%
Unsecured $1,175 million revolver
Long-term debt
Line of credit facility, maximum borrowing capacity	$ 1,175,000,000	$ 1,175,000,000

Long-term Debt (Maturities of L

Long-term Debt (Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Future minimum repayments of long-term debt
Within one year	$ 126
2-3 years	1,925,271
4-5 years	840,298
Over 5 years	3,075,357
Total minimum payments	$ 5,841,052	$ 5,903,112

Long-term Debt - Senior Unsecur

Long-term Debt - Senior Unsecured Credit Facility (Narrative) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Long-term debt
Letters of credit outstanding, amount	$ 400,000
Available borrowing capacity	834,600,000
Senior unsecured credit facility
Long-term debt
Long-term debt, gross	865,000,000
Revolving credit facility
Long-term debt
Line of credit facility, maximum borrowing capacity	1,175,000,000	$ 1,175,000,000
Outstanding balance on credit facility	340,000,000
Unsecured term loan A-1
Long-term debt
Line of credit facility, maximum borrowing capacity	525,000,000
Outstanding balance on credit facility	$ 525,000,000

Long-term Debt - Senior Unsec_2

Long-term Debt - Senior Unsecured Notes (Narrative) (Details)	Jun. 30, 2019USD ($)
Senior Notes
Long-term debt
Long-term debt, gross	$ 4,975,000,000

Long-term Debt - Finance Lease

Long-term Debt - Finance Lease Liability (Narrative) (Details)	Jun. 30, 2019
Debt Disclosure [Abstract]
Lessee, finance lease, term of contract	30 years

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and LIabilities (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Carrying Amount
Financial assets:
Cash and cash equivalents	$ 24,739	$ 25,783
Deferred compensation plan assets	26,896	22,709
Long-term debt:
Senior unsecured credit facility	865,000	927,000
Senior unsecured notes	4,975,000	4,975,000
Fair Value
Financial assets:
Cash and cash equivalents	24,739	25,783
Deferred compensation plan assets	26,896	22,709
Long-term debt:
Senior unsecured credit facility	859,750	909,308
Senior unsecured notes	5,316,563	4,958,455
Mortgage loans receivable | Carrying Amount
Financial assets:
Mortgage loans receivable	303,684	303,684
Mortgage loans receivable | Fair Value
Financial assets:
Mortgage loans receivable	$ 303,684	$ 303,684

Fair Value of Financial Asset_5

Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities (Assets and Liabilities Measured on a Non Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 13, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan impairment charges	$ 0	$ 0	$ 13,000	$ 0
Total impairment charges			13,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total assets measured at fair value on a nonrecurring basis	0		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total assets measured at fair value on a nonrecurring basis	0		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Total assets measured at fair value on a nonrecurring basis	0		0
CQ Holding Company Inc. | Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Face amount of debt					$ 13,000
Loans receivable | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan receivable	0		0
Loans receivable | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan receivable	0		0
Loans receivable | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loan receivable	$ 0		$ 0

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)propertyrenewaloptionmi	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)propertyrenewaloptionmi	Jun. 30, 2018USD ($)
Revenue Recognition [Line Items]
Number of real estate properties	42		42
Number of miles | mi	60		60
Number of casino properties company has financial interests in	2		2
Gaming Taxes | $	$ 14.2	$ 15.1	$ 28.2	$ 29.3
Penn National Gaming Inc. Master Lease
Revenue Recognition [Line Items]
Number of real estate properties	20		20
Term of contract including all reasonably assured renewal periods (in years)			35 years
Operating lease, initial term of contract (in years)	15 years		15 years
Operating leases, number of renewal options | renewaloption	4		4
Operating lease, renewal term (in years)	5 years		5 years
Penn National Gaming Inc. Master Lease | Hollywood Casino Columbus and Hollywood Casino Toledo
Revenue Recognition [Line Items]
Percentage of the change in net revenues of Ohio facilities under the Master Lease during the preceding month used for adjustment in rent structure			20.00%
Amended Pinnacle Entertainment, Inc. Master Lease
Revenue Recognition [Line Items]
Number of real estate properties	12		12
Term of contract including all reasonably assured renewal periods (in years)			10 years
Operating lease, initial term of contract (in years)	10 years		10 years
Operating leases, number of renewal options | renewaloption	5		5
Operating lease, renewal term (in years)	5 years		5 years
Eldorado Master Lease
Revenue Recognition [Line Items]
Number of real estate properties	5		5
Term of contract including all reasonably assured renewal periods (in years)			15 years
Operating lease, initial term of contract (in years)	15 years		15 years
Operating leases, number of renewal options | renewaloption	4		4
Operating lease, renewal term (in years)	5 years		5 years
Boyd Gaming Corporation Master Lease
Revenue Recognition [Line Items]
Number of real estate properties	3		3
Term of contract including all reasonably assured renewal periods (in years)			10 years
Operating lease, initial term of contract (in years)	10 years		10 years
Operating leases, number of renewal options | renewaloption	5		5
Operating lease, renewal term (in years)	5 years		5 years
All Tenant Leases
Revenue Recognition [Line Items]
Annual rent escalator, percentage			2.00%
Operating leases, percent of the average net revenues of property(s) used to calculate rent increase			4.00%
Casino Queen Lease
Revenue Recognition [Line Items]
Term of contract including all reasonably assured renewal periods (in years)			35 years
Operating lease, initial term of contract (in years)	15 years		15 years
Operating leases, number of renewal options | renewaloption	4		4
Operating lease, renewal term (in years)	5 years		5 years
Penn National Gaming, Inc. Meadows Lease
Revenue Recognition [Line Items]
Term of contract including all reasonably assured renewal periods (in years)			10 years
Operating lease, initial term of contract (in years)	10 years		10 years
Minimum | All Tenant Leases
Revenue Recognition [Line Items]
Frequency property performance-based rent structure is adjusted			2 years
Lessor leasing arrangements period used in calculation of average net revenues			2 years
Maximum | All Tenant Leases
Revenue Recognition [Line Items]
Frequency property performance-based rent structure is adjusted			5 years
Lessor leasing arrangements period used in calculation of average net revenues			5 years

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Rental Income Table) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Operating Leased Assets [Line Items]
Total cash rental income	$ 251,875	$ 502,429
Straight-line rent adjustments	(8,643)	(17,287)	$ (33,233)
Ground rent in revenue	5,188	10,751
Other rental revenue	143	348
Total rental income	248,563	496,241
Base rent income | Building
Operating Leased Assets [Line Items]
Total cash rental income	164,270	327,607
Base rent income | Land
Operating Leased Assets [Line Items]
Total cash rental income	47,543	94,984
Variable rent income
Operating Leased Assets [Line Items]
Total cash rental income	$ 40,062	$ 79,838

Earnings per Share Earnings p_4

Earnings per Share Earnings per Share (Weighted Average Shares Outstanding) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Basic And Diluted Weighted Average Common Shares Outstanding [Line Items]
Weighted-average common shares outstanding (in shares)	214,664	213,579	214,645	213,442
Diluted weighted-average common shares outstanding (in shares)	215,605	214,561	215,520	214,506
Employee stock options
Schedule of Basic And Diluted Weighted Average Common Shares Outstanding [Line Items]
Assumed conversion of dilutive securities (in shares)	0	262	0	325
Restricted stock awards
Schedule of Basic And Diluted Weighted Average Common Shares Outstanding [Line Items]
Assumed conversion of dilutive securities (in shares)	103	62	80	50
Performance-based restricted stock awards
Schedule of Basic And Diluted Weighted Average Common Shares Outstanding [Line Items]
Assumed conversion of dilutive securities (in shares)	838	658	795	689

Earnings per Share Earnings p_5

Earnings per Share Earnings per Share (EPS Calculations) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Calculation of basic EPS:
Net income	$ 93,033	$ 93,010	$ 91,998	$ 96,772	$ 186,043	$ 188,770
Less: Net income allocated to participating securities	(146)		(129)		(291)	(265)
Net income attributable to common shareholders	$ 92,887		$ 91,869		$ 185,752	$ 188,505
Weighted-average common shares outstanding (in shares)	214,664,000		213,579,000		214,645,000	213,442,000
Basic EPS (in dollars per share)	$ 0.43		$ 0.43		$ 0.87	$ 0.88
Calculation of diluted EPS:
Net income	$ 93,033	$ 93,010	$ 91,998	$ 96,772	$ 186,043	$ 188,770
Diluted weighted-average common shares outstanding (in shares)	215,605,000		214,561,000		215,520,000	214,506,000
Diluted EPS (in dollars per share)	$ 0.43		$ 0.43		$ 0.86	$ 0.88
Anti-dilutive securities, options to purchase common stock outstanding (in shares)	0		169,324		1,397	195,529

Shareholders' Equity (Dividends

Shareholders' Equity (Dividends) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 28, 2019	May 28, 2019	Mar. 22, 2019	Feb. 20, 2019	Jun. 29, 2018	Apr. 24, 2018	Mar. 23, 2018	Feb. 01, 2018	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Dividends declared per common share (in dollars per share)		$ 0.68		$ 0.68		$ 0.63		$ 0.63
Dividends paid per common share (in dollars per share)									$ 0.68	$ 0.68	$ 0.63	$ 0.63
Payments of dividends, common stock	$ 145,985		$ 145,954		$ 134,631		$ 134,490
Dividends, share-based compensation									$ 200		$ 200		$ 400	$ 400

Stock Based Compensation Stoc_3

Stock Based Compensation Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restricted stock awards
Stock-based compensation
Total unrecognized compensation cost	$ 8.5		$ 8.5
Remaining weighted average vesting period for recognition of unrecognized compensation cost			1 year 9 months 7 days
Recognized compensation expense	2.1	$ 1	$ 4.1	$ 2.4
Performance-based restricted stock awards
Stock-based compensation
Total unrecognized compensation cost	13.2		$ 13.2
Remaining weighted average vesting period for recognition of unrecognized compensation cost			1 year 11 months 23 days
Recognized compensation expense	$ 2.1	$ (0.4)	$ 4.4	$ 2.2
Period of total shareholder return upon which the percentage of shares vesting at the end of the measurement period will be based			3 years
Period of return of the MSCI US REIT index against which total shareholder return measured			3 years
Percentage of revenues from triple-net leases (at least)			75.00%
End Of Measurement Period Vesting | Performance-based restricted stock awards
Stock-based compensation
Vesting period			3 years

Stock Based Compensation Stoc_4

Stock Based Compensation Stock Based Compensation (Restricted Stock Activity) (Details) - Restricted stock awards	6 Months Ended
	Jun. 30, 2019shares
Stock-based compensation
Outstanding at the beginning of the period (in shares)	299,642
Granted (in shares)	317,290
Released (in shares)	(280,386)
Canceled (in shares)	0
Outstanding at the end of the period (in shares)	336,546

Stock Based Compensation Stoc_5

Stock Based Compensation Stock-Based Compensation (Performance-Based Awards) (Details) - Performance-based restricted stock awards	6 Months Ended
	Jun. 30, 2019shares
Performance-Based Restricted Stock Awards Activity [Roll Forward]
Outstanding at the beginning of the period (in shares)	1,342,000
Granted (in shares)	512,000
Released (in shares)	(447,334)
Canceled (in shares)	(23,332)
Outstanding at the end of the period (in shares)	1,383,334

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)
Segment information
Number of reportable segments | segment					2
Total revenues	$ 289,013		$ 254,221		$ 576,877	$ 498,271
Income from operations	170,767		153,241		341,542	305,092
Interest expense	76,523		57,055		153,251	111,123
Income before income taxes	94,492		93,604		188,628	191,868
Income tax expense	1,459		1,606		2,585	3,098
Net income	93,033	$ 93,010	91,998	$ 96,772	186,043	188,770
Depreciation	67,865		27,523		126,443	55,477
Capital project expenditures	0		14		0	14
Capital maintenance expenditures	1,017		1,162		1,547	1,984
GLP Capital (1)
Segment information
Total revenues	255,764		218,332		510,635	427,636
Income from operations	164,068		146,133		328,937	291,007
Interest expense	73,921		54,453		148,048	105,920
Income before income taxes	90,394		89,098		181,225	182,985
Income tax expense	197		228		265	399
Net income	90,197		88,870		180,960	182,586
Depreciation	66,067		25,172		122,242	50,787
Capital project expenditures	0		14		0	14
Capital maintenance expenditures	2		3		4	51
TRS Properties
Segment information
Total revenues	33,249		35,889		66,242	70,635
Income from operations	6,699		7,108		12,605	14,085
Interest expense	2,602		2,602		5,203	5,203
Income before income taxes	4,098		4,506		7,403	8,883
Income tax expense	1,262		1,378		2,320	2,699
Net income	2,836		3,128		5,083	6,184
Depreciation	1,798		2,351		4,201	4,690
Capital project expenditures	0		0		0	0
Capital maintenance expenditures	1,015		1,159		1,543	1,933
Intersegment Eliminations
Segment information
Interest expense	$ 2,600		$ 2,600		$ 5,200	$ 5,200

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information and Noncash Activities (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Cash paid for income taxes, net of refunds received	$ 2,684	$ 2,650	$ 2,684	$ 2,672
Cash paid for interest	118,481	$ 93,861	139,331	$ 102,410
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	862,927		862,927
Lease liabilities	$ 202,098		$ 202,098
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets					$ 203,000
Lease liabilities					$ 203,000

Supplementary Condensed Conso_3

Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers (Balance Sheet) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Assets
Real estate investments, net	$ 7,210,028		$ 7,331,460
Land rights, net			673,207
Property and equipment, used in operations, net	97,219		100,884
Right-of-use assets and land rights, net	862,927
Cash and cash equivalents	24,739		25,783	$ 144,472		$ 29,054
Prepaid expenses	2,943		30,967
Goodwill	16,067		16,067
Other intangible assets	9,577		9,577
Intercompany loan receivable	0		0
Intercompany transactions and investment in subsidiaries	0		0
Deferred tax assets	5,721		5,178
Other assets	30,959		67,486
Total assets	8,563,864		8,577,293
Liabilities
Accounts payable	171		2,511
Accrued expenses	6,778		30,297
Accrued interest	53,340		45,261
Accrued salaries and wages	8,120		17,010
Gaming, property, and other taxes	966		42,879
Income taxes	0		0
Lease liabilities	202,098
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	5,796,990		5,853,497
Intercompany loan payable	0		0
Deferred rental revenue	311,198		293,911
Deferred tax liabilities	233		261
Other liabilities	25,283		26,059
Total liabilities	6,405,177		6,311,686
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	2,147		2,142
Additional paid-in capital	3,951,949		3,952,503
Accumulated deficit	(1,795,409)		(1,689,038)
Total shareholders’ equity	2,158,687	$ 2,207,684	2,265,607	2,378,768	$ 2,416,848	2,458,247
Total liabilities and shareholders’ equity	$ 8,563,864		$ 8,577,293
Preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01
Preferred stock, shares authorized	50,000,000		50,000,000
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common stock, shares authorized	500,000,000		500,000,000
Common stock, shares issued	214,673,135		214,211,932
Common stock, shares, outstanding	214,673,135		214,211,932
Eliminations
Assets
Real estate investments, net	$ 0		$ 0
Land rights, net			0
Property and equipment, used in operations, net	0		0
Right-of-use assets and land rights, net	0
Cash and cash equivalents	0		0	0		0
Prepaid expenses	361		1,011
Goodwill	0		0
Other intangible assets	0		0
Intercompany loan receivable	(193,595)		(193,595)
Intercompany transactions and investment in subsidiaries	(9,902,754)		(10,210,077)
Deferred tax assets	0		0
Other assets	0		0
Total assets	(10,095,988)		(10,402,661)
Liabilities
Accounts payable	0		0
Accrued expenses	0		0
Accrued interest	0		0
Accrued salaries and wages	0		0
Gaming, property, and other taxes	0		0
Income taxes	361		1,011
Lease liabilities	0
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	0		0
Intercompany loan payable	(193,595)		(193,595)
Deferred rental revenue	0		0
Deferred tax liabilities			0
Other liabilities	0		0
Total liabilities	(193,234)		(192,584)
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	(4,294)		(4,284)
Additional paid-in capital	(13,784,226)		(13,785,336)
Accumulated deficit	3,885,766		3,579,543
Total shareholders’ equity	(9,902,754)		(10,210,077)
Total liabilities and shareholders’ equity	(10,095,988)		(10,402,661)
Parent Guarantor
Assets
Real estate investments, net	0		0
Land rights, net			0
Property and equipment, used in operations, net	0		0
Right-of-use assets and land rights, net	0
Cash and cash equivalents	0		0	0		0
Prepaid expenses	0		0
Goodwill	0		0
Other intangible assets	0		0
Intercompany loan receivable	0		0
Intercompany transactions and investment in subsidiaries	2,158,687		2,265,607
Deferred tax assets	0		0
Other assets	0		0
Total assets	2,158,687		2,265,607
Liabilities
Accounts payable	0		0
Accrued expenses	0		0
Accrued interest	0		0
Accrued salaries and wages	0		0
Gaming, property, and other taxes	0		0
Income taxes	0		0
Lease liabilities	0
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	0		0
Intercompany loan payable	0		0
Deferred rental revenue	0		0
Deferred tax liabilities	0		0
Other liabilities	0		0
Total liabilities	0		0
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	2,147		2,142
Additional paid-in capital	3,951,949		3,952,503
Accumulated deficit	(1,795,409)		(1,689,038)
Total shareholders’ equity	2,158,687		2,265,607
Total liabilities and shareholders’ equity	2,158,687		2,265,607
Subsidiary Issuers
Assets
Real estate investments, net	2,570,516		2,637,404
Land rights, net			100,938
Property and equipment, used in operations, net	17,583		18,577
Right-of-use assets and land rights, net	200,793
Cash and cash equivalents	3,229		4,632	113,606		6,734
Prepaid expenses	1,820		27,071
Goodwill	0		0
Other intangible assets	0		0
Intercompany loan receivable	193,595		193,595
Intercompany transactions and investment in subsidiaries	5,156,092		5,247,229
Deferred tax assets	0		0
Other assets	28,834		47,378
Total assets	8,418,462		8,522,824
Liabilities
Accounts payable	119		2,469
Accrued expenses	1,016		23,587
Accrued interest	53,340		45,261
Accrued salaries and wages	6,187		14,628
Gaming, property, and other taxes	287		24,055
Income taxes	(73)		(2)
Lease liabilities	107,611
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	5,796,990		5,853,497
Intercompany loan payable	0		0
Deferred rental revenue	270,511		269,185
Deferred tax liabilities	0		0
Other liabilities	23,787		24,536
Total liabilities	6,259,775		6,257,216
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	2,147		2,142
Additional paid-in capital	3,951,950		3,952,506
Accumulated deficit	(1,795,410)		(1,689,040)
Total shareholders’ equity	2,158,687		2,265,608
Total liabilities and shareholders’ equity	8,418,462		8,522,824
Other Subsidiary Non-Issuers
Assets
Real estate investments, net	4,639,512		4,694,056
Land rights, net			572,269
Property and equipment, used in operations, net	79,636		82,307
Right-of-use assets and land rights, net	662,134
Cash and cash equivalents	21,510		21,151	$ 30,866		$ 22,320
Prepaid expenses	762		2,885
Goodwill	16,067		16,067
Other intangible assets	9,577		9,577
Intercompany loan receivable	0		0
Intercompany transactions and investment in subsidiaries	2,587,975		2,697,241
Deferred tax assets	5,721		5,178
Other assets	2,125		20,108
Total assets	8,082,703		8,191,523
Liabilities
Accounts payable	52		42
Accrued expenses	5,762		6,710
Accrued interest	0		0
Accrued salaries and wages	1,933		2,382
Gaming, property, and other taxes	679		18,824
Income taxes	(288)		(1,009)
Lease liabilities	94,487
Long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts	0		0
Intercompany loan payable	193,595		193,595
Deferred rental revenue	40,687		24,726
Deferred tax liabilities	233		261
Other liabilities	1,496		1,523
Total liabilities	338,636		247,054
Shareholders’ equity
Preferred stock ($.01 par value, 50,000,000 shares authorized, no shares issued or outstanding at June 30, 2019 and December 31, 2018)	0		0
Common stock ($.01 par value, 500,000,000 shares authorized, 214,673,135 and 214,211,932 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively)	2,147		2,142
Additional paid-in capital	9,832,276		9,832,830
Accumulated deficit	(2,090,356)		(1,890,503)
Total shareholders’ equity	7,744,067		7,944,469
Total liabilities and shareholders’ equity	$ 8,082,703		8,191,523
GLP Capital, L.P.
Supplementary condensed consolidating financial information of parent guarantor and subsidiary issuers
Ownership percentage of subsidiaries	100.00%
GLP Financing II, Inc.
Supplementary condensed consolidating financial information of parent guarantor and subsidiary issuers
Ownership percentage of subsidiaries	100.00%
Mortgage loans receivable
Assets
Financing receivable, after allowance for credit loss	$ 303,684		303,684
Mortgage loans receivable | Eliminations
Assets
Financing receivable, after allowance for credit loss	0		0
Mortgage loans receivable | Parent Guarantor
Assets
Financing receivable, after allowance for credit loss	0		0
Mortgage loans receivable | Subsidiary Issuers
Assets
Financing receivable, after allowance for credit loss	246,000		246,000
Mortgage loans receivable | Other Subsidiary Non-Issuers
Assets
Financing receivable, after allowance for credit loss	57,684		57,684
Loans receivable
Assets
Financing receivable, after allowance for credit loss	$ 0		13,000
Loans receivable | Eliminations
Assets
Financing receivable, after allowance for credit loss			0
Loans receivable | Parent Guarantor
Assets
Financing receivable, after allowance for credit loss			0
Loans receivable | Subsidiary Issuers
Assets
Financing receivable, after allowance for credit loss			0
Loans receivable | Other Subsidiary Non-Issuers
Assets
Financing receivable, after allowance for credit loss			$ 13,000

Supplementary Condensed Conso_4

Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers (Income Statement) (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Rental income	$ 248,563,000				$ 496,241,000
Rental income			$ 169,865,000			$ 339,270,000
Income from direct financing lease			26,984,000			45,605,000
Interest income from mortgaged real estate	7,201,000		0		14,394,000	0
Real estate taxes paid by tenants			21,483,000			42,761,000
Total revenues	289,013,000		254,221,000		576,877,000	498,271,000
Operating expenses
Gaming, food, beverage and other	19,168,000		20,407,000		38,190,000	40,065,000
Real estate taxes			21,800,000			43,395,000
Land rights and ground lease expense	15,229,000		6,444,000		24,478,000	12,976,000
General and administrative	15,984,000		24,806,000		33,224,000	41,266,000
Depreciation	67,865,000		27,523,000		126,443,000	55,477,000
Loan impairment charges	0		0		13,000,000	0
Total operating expenses	118,246,000		100,980,000		235,335,000	193,179,000
Income from operations	170,767,000		153,241,000		341,542,000	305,092,000
Other income (expenses)
Interest expense	(76,523,000)		(57,055,000)		(153,251,000)	(111,123,000)
Interest income	248,000		891,000		337,000	1,372,000
Losses on debt extinguishment	0		(3,473,000)		0	(3,473,000)
Intercompany dividends and interest	0		0		0	0
Total other expenses	(76,275,000)		(59,637,000)		(152,914,000)	(113,224,000)
Income before income taxes	94,492,000		93,604,000		188,628,000	191,868,000
Income tax expense	1,459,000		1,606,000		2,585,000	3,098,000
Net income	93,033,000	$ 93,010,000	91,998,000	$ 96,772,000	186,043,000	188,770,000
Eliminations
Revenues
Rental income	0				0
Rental income			0			0
Income from direct financing lease			0			0
Interest income from mortgaged real estate	0				0
Real estate taxes paid by tenants			0			0
Total revenues	0		0		0	0
Operating expenses
Gaming, food, beverage and other	0		0		0	0
Real estate taxes			0			0
Land rights and ground lease expense	0		0		0	0
General and administrative	0		0		0	0
Depreciation	0		0		0	0
Loan impairment charges					0
Total operating expenses	0		0		0	0
Income from operations	0		0		0	0
Other income (expenses)
Interest expense	0		0		0	0
Interest income	0		0		0	0
Losses on debt extinguishment			0			0
Intercompany dividends and interest	(133,513,000)		(114,886,000)		(251,336,000)	(221,674,000)
Total other expenses	(133,513,000)		(114,886,000)		(251,336,000)	(221,674,000)
Income before income taxes	(133,513,000)		(114,886,000)		(251,336,000)	(221,674,000)
Income tax expense	0		0		0	0
Net income	(133,513,000)		(114,886,000)		(251,336,000)	(221,674,000)
Parent Guarantor
Revenues
Rental income	0				0
Rental income			0			0
Income from direct financing lease			0			0
Interest income from mortgaged real estate	0				0
Real estate taxes paid by tenants			0			0
Total revenues	0		0		0	0
Operating expenses
Gaming, food, beverage and other	0		0		0	0
Real estate taxes			0			0
Land rights and ground lease expense	0		0		0	0
General and administrative	0		0		0	0
Depreciation	0		0		0	0
Loan impairment charges					0
Total operating expenses	0		0		0	0
Income from operations	0		0		0	0
Other income (expenses)
Interest expense	0		0		0	0
Interest income	0		0		0	0
Losses on debt extinguishment			0			0
Intercompany dividends and interest	0		0		0	0
Total other expenses	0		0		0	0
Income before income taxes	0		0		0	0
Income tax expense	0		0		0	0
Net income	0		0		0	0
Subsidiary Issuers
Revenues
Rental income	138,135,000				276,388,000
Rental income			101,767,000			203,587,000
Income from direct financing lease			0			0
Interest income from mortgaged real estate	5,590,000				11,181,000
Real estate taxes paid by tenants			11,176,000			22,076,000
Total revenues	143,725,000		112,943,000		287,569,000	225,663,000
Operating expenses
Gaming, food, beverage and other	0		0		0	0
Real estate taxes			11,195,000			22,114,000
Land rights and ground lease expense	10,770,000		1,929,000		15,494,000	3,948,000
General and administrative	10,335,000		19,016,000		21,847,000	29,937,000
Depreciation	38,911,000		23,190,000		67,698,000	46,791,000
Loan impairment charges					0
Total operating expenses	60,016,000		55,330,000		105,039,000	102,790,000
Income from operations	83,709,000		57,613,000		182,530,000	122,873,000
Other income (expenses)
Interest expense	(76,523,000)		(57,055,000)		(153,251,000)	(111,123,000)
Interest income	248,000		404,000		337,000	404,000
Losses on debt extinguishment			(3,473,000)			(3,473,000)
Intercompany dividends and interest	128,514,000		109,988,000		247,908,000	217,091,000
Total other expenses	52,239,000		49,864,000		94,994,000	102,899,000
Income before income taxes	135,948,000		107,477,000		277,524,000	225,772,000
Income tax expense	196,000		228,000		265,000	399,000
Net income	135,752,000		107,249,000		277,259,000	225,373,000
Other Subsidiary Non-Issuers
Revenues
Rental income	110,428,000				219,853,000
Rental income			68,098,000			135,683,000
Income from direct financing lease			26,984,000			45,605,000
Interest income from mortgaged real estate	1,611,000				3,213,000
Real estate taxes paid by tenants			10,307,000			20,685,000
Total revenues	145,288,000		141,278,000		289,308,000	272,608,000
Operating expenses
Gaming, food, beverage and other	19,168,000		20,407,000		38,190,000	40,065,000
Real estate taxes			10,605,000			21,281,000
Land rights and ground lease expense	4,459,000		4,515,000		8,984,000	9,028,000
General and administrative	5,649,000		5,790,000		11,377,000	11,329,000
Depreciation	28,954,000		4,333,000		58,745,000	8,686,000
Loan impairment charges					13,000,000
Total operating expenses	58,230,000		45,650,000		130,296,000	90,389,000
Income from operations	87,058,000		95,628,000		159,012,000	182,219,000
Other income (expenses)
Interest expense	0		0		0	0
Interest income	0		487,000		0	968,000
Losses on debt extinguishment			0			0
Intercompany dividends and interest	4,999,000		4,898,000		3,428,000	4,583,000
Total other expenses	4,999,000		5,385,000		3,428,000	5,551,000
Income before income taxes	92,057,000		101,013,000		162,440,000	187,770,000
Income tax expense	1,263,000		1,378,000		2,320,000	2,699,000
Net income	90,794,000		99,635,000		160,120,000	185,071,000
Real Estate
Revenues
Total revenues	255,764,000		218,332,000		510,635,000	427,636,000
Real Estate | Eliminations
Revenues
Total revenues	0		0		0	0
Real Estate | Parent Guarantor
Revenues
Total revenues	0		0		0	0
Real Estate | Subsidiary Issuers
Revenues
Total revenues	143,725,000		112,943,000		287,569,000	225,663,000
Real Estate | Other Subsidiary Non-Issuers
Revenues
Total revenues	112,039,000		105,389,000		223,066,000	201,973,000
Gaming, food, beverage and other
Revenues
Total revenues	33,249,000		35,889,000		66,242,000	70,635,000
Gaming, food, beverage and other | Eliminations
Revenues
Total revenues	0		0		0	0
Gaming, food, beverage and other | Parent Guarantor
Revenues
Total revenues	0		0		0	0
Gaming, food, beverage and other | Subsidiary Issuers
Revenues
Total revenues	0		0		0	0
Gaming, food, beverage and other | Other Subsidiary Non-Issuers
Revenues
Total revenues	$ 33,249,000		$ 35,889,000		$ 66,242,000	$ 70,635,000

Supplementary Condensed Conso_5

Supplementary Condensed Consolidating Financial Information of Parent Guarantor and Subsidiary Issuers (Cash Flow) (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income	$ 93,033,000	$ 93,010,000	$ 91,998,000	$ 96,772,000	$ 186,043,000	$ 188,770,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					138,939,000	60,932,000
Amortization of debt issuance costs, bond premiums and original issuance discounts					5,790,000	6,296,000
Losses on dispositions of property					13,000	225,000
Deferred income taxes					(466,000)	(117,000)
Stock-based compensation					8,508,000	4,603,000
Straight-line rent adjustments	8,643,000				17,287,000	33,233,000
Losses on debt extinguishment	0		3,473,000		0	3,473,000
Loan impairment charges	0		0		13,000,000	0
(Increase), decrease
Prepaid expenses and other assets					(2,312,000)	(1,123,000)
Intercompany					0	0
Increase, (decrease)
Accounts payable					(2,340,000)	(254,000)
Accrued expenses					1,305,000	157,000
Accrued interest					8,079,000	2,367,000
Accrued salaries and wages					(8,890,000)	6,607,000
Gaming, property and other taxes					(98,000)	(119,000)
Income taxes					0	0
Other liabilities					(777,000)	572,000
Net cash provided by operating activities					364,081,000	305,622,000
Investing activities
Capital project expenditures	0		(14,000)		0	(14,000)
Capital maintenance expenditures	(1,017,000)		(1,162,000)		(1,547,000)	(1,984,000)
Proceeds from sale of property and equipment					190,000	227,000
Collections of principal payments on investment in direct financing lease					0	29,239,000
Net cash (used in) provided by investing activities					(1,357,000)	27,468,000
Financing activities
Dividends paid					(292,414,000)	(269,537,000)
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options					(9,057,000)	(2,905,000)
Proceeds from issuance of long-term debt					155,000,000	1,000,000,000
Financing costs					(236,000)	(19,745,000)
Repayments of long-term debt					(217,061,000)	(923,601,000)
Premium and related costs paid on tender of senior unsecured notes					0	(1,884,000)
Intercompany financing					0	0
Net cash used in financing activities					(363,768,000)	(217,672,000)
Net (decrease) increase in cash and cash equivalents					(1,044,000)	115,418,000
Cash and cash equivalents at beginning of period		25,783,000		29,054,000	25,783,000	29,054,000
Cash and cash equivalents at end of period	24,739,000		144,472,000		24,739,000	144,472,000
Eliminations
Operating activities
Net income	(133,513,000)		(114,886,000)		(251,336,000)	(221,674,000)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					0	0
Amortization of debt issuance costs, bond premiums and original issuance discounts					0	0
Losses on dispositions of property					0	0
Deferred income taxes					0	0
Stock-based compensation					0	0
Straight-line rent adjustments					0	0
Losses on debt extinguishment			0			0
Loan impairment charges					0
(Increase), decrease
Prepaid expenses and other assets					650,000	1,073,000
Intercompany					0	0
Increase, (decrease)
Accounts payable					0	0
Accrued expenses					0	0
Accrued interest					0	0
Accrued salaries and wages					0	0
Gaming, property and other taxes					0	0
Income taxes					(650,000)	(1,073,000)
Other liabilities					0	0
Net cash provided by operating activities					(251,336,000)	(221,674,000)
Investing activities
Capital project expenditures						0
Capital maintenance expenditures					0	0
Proceeds from sale of property and equipment					0	0
Collections of principal payments on investment in direct financing lease						0
Net cash (used in) provided by investing activities					0	0
Financing activities
Dividends paid					0	0
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options					0	0
Proceeds from issuance of long-term debt					0	0
Financing costs					0	0
Repayments of long-term debt					0	0
Premium and related costs paid on tender of senior unsecured notes						0
Intercompany financing					251,336,000	221,674,000
Net cash used in financing activities					251,336,000	221,674,000
Net (decrease) increase in cash and cash equivalents					0	0
Cash and cash equivalents at beginning of period		0		0	0	0
Cash and cash equivalents at end of period	0		0		0	0
Parent Guarantor
Operating activities
Net income	0		0		0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					0	0
Amortization of debt issuance costs, bond premiums and original issuance discounts					0	0
Losses on dispositions of property					0	0
Deferred income taxes					0	0
Stock-based compensation					0	0
Straight-line rent adjustments					0	0
Losses on debt extinguishment			0			0
Loan impairment charges					0
(Increase), decrease
Prepaid expenses and other assets					0	0
Intercompany					0	0
Increase, (decrease)
Accounts payable					0	0
Accrued expenses					0	0
Accrued interest					0	0
Accrued salaries and wages					0	0
Gaming, property and other taxes					0	0
Income taxes					0	0
Other liabilities					0	0
Net cash provided by operating activities					0	0
Investing activities
Capital project expenditures						0
Capital maintenance expenditures					0	0
Proceeds from sale of property and equipment					0	0
Collections of principal payments on investment in direct financing lease						0
Net cash (used in) provided by investing activities					0	0
Financing activities
Dividends paid					(292,414,000)	(269,537,000)
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options					(9,057,000)	(2,905,000)
Proceeds from issuance of long-term debt					0	0
Financing costs					0	0
Repayments of long-term debt					0	0
Premium and related costs paid on tender of senior unsecured notes						0
Intercompany financing					301,471,000	272,442,000
Net cash used in financing activities					0	0
Net (decrease) increase in cash and cash equivalents					0	0
Cash and cash equivalents at beginning of period		0		0	0	0
Cash and cash equivalents at end of period	0		0		0	0
Subsidiary Issuers
Operating activities
Net income	135,752,000		107,249,000		277,259,000	225,373,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					75,572,000	47,624,000
Amortization of debt issuance costs, bond premiums and original issuance discounts					5,790,000	6,296,000
Losses on dispositions of property					7,000	(9,000)
Deferred income taxes					0	0
Stock-based compensation					8,508,000	4,603,000
Straight-line rent adjustments					1,326,000	28,655,000
Losses on debt extinguishment			3,473,000			3,473,000
Loan impairment charges					0
(Increase), decrease
Prepaid expenses and other assets					(2,999,000)	(2,146,000)
Intercompany					(79,000)	183,000
Increase, (decrease)
Accounts payable					(2,350,000)	(450,000)
Accrued expenses					478,000	(39,000)
Accrued interest					8,079,000	2,367,000
Accrued salaries and wages					(8,441,000)	7,544,000
Gaming, property and other taxes					(142,000)	(190,000)
Income taxes					(71,000)	125,000
Other liabilities					(749,000)	992,000
Net cash provided by operating activities					362,188,000	324,401,000
Investing activities
Capital project expenditures						(14,000)
Capital maintenance expenditures					(4,000)	(51,000)
Proceeds from sale of property and equipment					182,000	210,000
Collections of principal payments on investment in direct financing lease						0
Net cash (used in) provided by investing activities					178,000	145,000
Financing activities
Dividends paid					0	0
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options					0	0
Proceeds from issuance of long-term debt					155,000,000	1,000,000,000
Financing costs					(236,000)	(19,745,000)
Repayments of long-term debt					(217,061,000)	(923,601,000)
Premium and related costs paid on tender of senior unsecured notes						(1,884,000)
Intercompany financing					(301,472,000)	(272,444,000)
Net cash used in financing activities					(363,769,000)	(217,674,000)
Net (decrease) increase in cash and cash equivalents					(1,403,000)	106,872,000
Cash and cash equivalents at beginning of period		4,632,000		6,734,000	4,632,000	6,734,000
Cash and cash equivalents at end of period	3,229,000		113,606,000		3,229,000	113,606,000
Other Subsidiary Non-Issuers
Operating activities
Net income	90,794,000		99,635,000		160,120,000	185,071,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					63,367,000	13,308,000
Amortization of debt issuance costs, bond premiums and original issuance discounts					0	0
Losses on dispositions of property					6,000	234,000
Deferred income taxes					(466,000)	(117,000)
Stock-based compensation					0	0
Straight-line rent adjustments					15,961,000	4,578,000
Losses on debt extinguishment			0			0
Loan impairment charges					13,000,000
(Increase), decrease
Prepaid expenses and other assets					37,000	(50,000)
Intercompany					79,000	(183,000)
Increase, (decrease)
Accounts payable					10,000	196,000
Accrued expenses					827,000	196,000
Accrued interest					0	0
Accrued salaries and wages					(449,000)	(937,000)
Gaming, property and other taxes					44,000	71,000
Income taxes					721,000	948,000
Other liabilities					(28,000)	(420,000)
Net cash provided by operating activities					253,229,000	202,895,000
Investing activities
Capital project expenditures						0
Capital maintenance expenditures					(1,543,000)	(1,933,000)
Proceeds from sale of property and equipment					8,000	17,000
Collections of principal payments on investment in direct financing lease						29,239,000
Net cash (used in) provided by investing activities					(1,535,000)	27,323,000
Financing activities
Dividends paid					0	0
Taxes paid related to shares withheld for tax purposes on restricted stock award vestings, net of proceeds from exercise of options					0	0
Proceeds from issuance of long-term debt					0	0
Financing costs					0	0
Repayments of long-term debt					0	0
Premium and related costs paid on tender of senior unsecured notes						0
Intercompany financing					(251,335,000)	(221,672,000)
Net cash used in financing activities					(251,335,000)	(221,672,000)
Net (decrease) increase in cash and cash equivalents					359,000	8,546,000
Cash and cash equivalents at beginning of period		$ 21,151,000		$ 22,320,000	21,151,000	22,320,000
Cash and cash equivalents at end of period	$ 21,510,000		$ 30,866,000		$ 21,510,000	$ 30,866,000

Uncategorized Items - glpi-2019

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (410,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (410,000)