4 unchanged sentences
Our exposure to foreign currency fluctuations is not significant to our financial condition or results of operations.
−Removed: GLPI’s primary market risk exposure is interest rate risk with respect to its indebtedness of $6,957.7 million at June 30, 2025.
−Removed: Furthermore, $6,025.0 million of our obligations at June 30, 2025 are the senior unsecured notes that have fixed interest rates with maturity dates ranging from April 15, 2026 to September 15, 2054.
+Added: GLPI’s primary market risk exposure is interest rate risk with respect to its indebtedness of $7,282.6 million at September 30, 2025.
+Added: Furthermore, $6,350.0 million of our obligations at September 30, 2025 are the senior unsecured notes that have fixed interest rates with maturity dates ranging from June 2028 to September 2054.
An increase in interest rates could make the financing of any acquisition by GLPI more costly, as well as increase the costs of its variable rate debt obligations.
2 unchanged sentences
However, the provisions of the Code applicable to REITs limit GLPI’s ability to hedge its assets and liabilities.
−Removed: See Note 12 for additional discussion related to the Company's outstanding derivatives.
−Removed: The table below provides information at June 30, 2025 about our financial instruments that are sensitive to changes in interest rates.
+Added: The table below provides information at September 30, 2025 about our financial instruments that are sensitive to changes in interest rates.
For debt obligations, the table presents notional amounts maturing in each fiscal year and the related weighted-average interest rates by maturity dates.
−Removed: Notional amounts are used to calculate the contractual payments to be exchanged by maturity date and the weighted-average interest rates are based on implied forward SOFR rates at June 30, 2025.
+Added: Notional amounts are used to calculate the contractual payments to be exchanged by maturity date and the weighted-average interest rates are based on implied forward SOFR rates at September 30, 2025.
10/01/25- 12/31/25 1/01/26- 12/31/26 1/01/27- 12/31/27 1/01/28- 12/31/28 1/01/29- 12/31/29 Thereafter Total Fair Value at 9/30/2025
3 unchanged sentences
Average interest rate (1)
+Added: — % — % — % 5.75 % 5.30 % 4.92 %
Variable rate $ — $ — $ 600,000 $ 332,455 $ — $ — $ 932,455 $ 932,455
1 unchanged sentence
— % — % 4.43 % 4.63 % — % 0
+Added: (1) In connection with the issuance of our November 2037 Notes, the Company terminated certain interest rate hedges, resulting in a realized gain of approximately $1.0 million that is being amortized as a reduction to interest expense over a 10-year period.
+Added: The table above reflects the contractual stated coupon rates;
+Added: the impact of the terminated hedge is not reflected in the table.
(2) Estimated rate, reflective of forward SOFR plus the spread over SOFR applicable to the Company's variable-rate borrowing based on the terms of its Credit Agreement.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.