Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) today announced that it has commenced an underwritten public offering to sell 7,700,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,155,000 shares of common stock.

The Company intends to use the net proceeds from the offering to partially finance the acquisition of the real property assets of Live! Casino & Hotel Maryland, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of The Cordish Companies (the “Cordish Acquisitions”). Pending the closing of the Cordish Acquisitions, the Company intends to use the net proceeds from the offering to repay borrowings under the senior credit facility of its operating partnership or invest in interest-bearing accounts and short-term, interest-bearing securities. The offering is not conditioned upon the successful completion of the Cordish Acquisitions and there is no assurance that the Cordish Acquisitions will be consummated on the anticipated schedule or at all. In the event the Cordish Acquisitions are not consummated, the Company intends to use the net proceeds from the offering for working capital and general corporate purposes, which may include the acquisition, development and improvement of properties, the repayment of indebtedness, capital expenditures and other general business purposes.

BofA Securities, Wells Fargo Securities, Citigroup and Mizuho Securities are serving as underwriters for the offering. The offering will be made under the Company's effective shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”). When available, a copy of the preliminary prospectus supplement, final prospectus supplement and prospectus relating to the offering may be obtained from BofA Securities, Attn.: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Email: [email protected], Wells Fargo Securities, Attn.: Equity Syndicate Department, 500 West 33rd Street, New York, NY, 10001, at (800) 326-5897 or email a request to [email protected], Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146 or email to: [email protected]) and Mizuho Securities USA LLC, Attn.: Equity Syndicate Department, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, Toll free number: (866) 271-7403, or by visiting the EDGAR database on the SEC’s web site at WWW.SEC.GOV.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.