[3] The corporate breakup was designed to increase investor returns by taking advantage of the lack of federal income taxes on REITs.

[15][16] In May 2015, GLPI agreed to finance the real estate portion of a proposed $650-million casino in New Bedford, Massachusetts,[17] but the plan was canceled months later after developers failed to secure the rest of the needed funding.

The purchase was part of a three-way deal in which Eldorado Resorts simultaneously acquired Tropicana's operating business and leased the casinos from GLPI for a total of $88 million per year.

[21] Weeks later, GLPI completed a four-way deal that saw its two largest tenants combine into one, as Penn National acquired Pinnacle.

[24] In April 2020, during the COVID-19 pandemic, Penn National faced the prospect of financial issues brought on by resort closures.

[26] GLPI took ownership of Lumière Place from Caesars Entertainment (formerly Eldorado Resorts) in October 2020, in satisfaction of a $246 million loan.

[27] In 2021, GLPI sold the operations of its two owned-and-operated casinos for a total of $59 million, to focus on its core business of real estate.