WYOMISSING, Pa. - Gaming and Leisure (NASDAQ:GLPI) Properties, Inc. (NASDAQ: GLPI), a real estate investment trust (REIT) specializing in casino properties, has announced the appointment of Debra Martin Chase as a new independent director to their Board of Directors. The appointment comes after the vacancy created by the passing of JoAnne A. Epps.
Ms. Chase, who is the founder and CEO of Martin Chase Productions, brings over three decades of experience in the entertainment industry, along with a solid legal background. Her achievements include being the first African American female producer with a deal at a major motion picture studio, and her work has collectively grossed over $500 million at the box office.
The addition of Ms. Chase increases the Board to eight directors, seven of whom are independent according to Nasdaq’s listing standards. She has also joined the Nominating and Corporate Governance Committee of the Board. Her term as a director will extend until the next annual meeting of shareholders.
Peter Carlino, Chairman and CEO of GLPI, expressed confidence that Ms. Chase's extensive experience in entertainment and law, as well as her board roles across various public companies and arts organizations, will contribute positively to the company's growth and shareholder value.
Ms. Chase's current board memberships include B&G Foods (NYSE: BGS) and Bridge Investment Group Holdings Inc. (NYSE: BRDG). She has previously served on the boards of the New York City Ballet and Mount Holyoke College, among others.
Her prior legal practice includes work at Mayor, Day, and Caldwell and in-house counsel for Avon Products (NYSE:AVP). She holds degrees from Mount Holyoke College and Harvard Law School.
Gaming and Leisure Properties is engaged in acquiring, financing, and owning real estate for leasing to gaming operators in triple-net lease arrangements. The company's portfolio allows tenants to be responsible for all property-related expenses.
This announcement is based on a press release statement from Gaming and Leisure Properties, Inc. and includes forward-looking statements regarding the expectations of Ms. Chase’s contribution to the Board. These statements are subject to risks and uncertainties that could cause actual results to differ from those projected.
InvestingPro Insights
Gaming and Leisure Properties, Inc. (GLPI) has made a strategic move to enhance its governance and oversight by bringing Debra Martin Chase onto its Board of Directors. As investors consider the implications of this appointment on GLPI's future, it's important to note the company's current financial standing and market performance.
According to real-time data from InvestingPro, GLPI has a market capitalization of approximately $12.15 billion and is trading with a P/E ratio of 15.67, indicating investor confidence in the company's earnings potential.
From a shareholder's perspective, GLPI stands out for its commitment to returning value through dividends. The company is known for paying a significant dividend to shareholders, with a current dividend yield of 6.98%, which is particularly attractive for income-focused investors.
Moreover, GLPI's liquid assets surpass its short-term obligations, underscoring a solid financial position that may reassure investors of the company's ability to meet its immediate financial commitments.
For those looking to delve deeper into the company's financial health, additional InvestingPro Tips reveal that analysts are optimistic about GLPI's profitability for the year and that the company has been profitable over the last twelve months. These insights, along with the company's revenue growth of 9.81% over the last twelve months, provide a well-rounded view of GLPI's performance and potential.
Investors interested in a more comprehensive analysis can access a wealth of information on InvestingPro, including more InvestingPro Tips for GLPI at https://www.investing.com/pro/GLPI. Currently, there are five additional tips listed, offering a more nuanced view of the company's financial nuances. For those considering a subscription to InvestingPro, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which could be a valuable resource in making informed investment decisions.
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