GLP Capital, L.P. and GLP Financing II, Inc., as issuers, and Gaming and Leisure Properties, Inc. (GLPI) as guarantor, entered into an underwriting agreement for $800.0 million aggregate principal amount of 5.625% Senior Notes due 2036. The Notes were priced at 99.857% of par value and will mature on March 1, 2036. The offering is expected to close on or about March 4, 2026, subject to customary closing conditions. Net proceeds are anticipated to be approximately $791.1 million after deducting underwriting discounts, commissions, and estimated expenses. The Issuers intend to use the net proceeds primarily to repay borrowings outstanding under the Operating Partnership's term loan credit facility. Remaining proceeds will be allocated to working capital and general corporate purposes, including potential acquisitions, funding development and expansion projects, repayment of other indebtedness, and capital expenditures.