- A casino landlord has joined a group opposing iGaming
- Gaming and Leisure Properties owns 68 casinos across the United States
- The National Association Against iGaming opposes online gambling aside from sports betting
Gaming and Leisure Properties, Inc. (GLPI), the real estate investment trust spun off from Penn Entertainment in November 2013, has joined an advocacy lobbying state lawmakers to oppose the liberalization of iGaming.
Last fall, a group of casino operators that want to keep casino gambling limited to in-person united to form the National Association Against iGaming, or NAAiG. The organization is “dedicated to protecting communities from the risks of online gambling by advocating for responsible, in-person gaming.”
On Tuesday, GLPI lent its name to the NAAiG mission.
“GLPI’s decision to join NAAiG underscores the growing consensus across the industry that iGaming’s risks are real and far-reaching,” said NAAiG Board Member Mark Stewart, who is also the executive vice president and general counsel of The Cordish Companies, the Baltimore-based gaming and hospitality conglomerate that manages Live! Casinos in Maryland, Pennsylvania, and Louisiana.
When the future of in-person gaming is threatened, we don’t just lose entertainment venues — we lose jobs, tax revenue, local investment, and critical economic anchors. GLPI’s leadership sends a powerful message about what’s at stake,” Stewart added.
The NAAiG’s members, in addition to Cordish, include Churchill Downs, Jack Entertainment, Peppermill Resorts, Accel Entertainment, Monarch Casino Resort, Foundation Gaming & Entertainment, del Lago Resort Casino, Harlow’s Casino Resort, Rivers Casino Des Plaines, and Miami Valley Gaming.
NAAiG members say iGaming preys on addiction, drains tax revenue from state and local economies, and leads to job cuts.
Casino Landlord
Penn Entertainment was a trendsetter when it formed the nation’s first publicly traded REIT solely focused on gaming. Caesars Entertainment and MGM Resorts followed with their own REITs, Vici Properties and MGM Growth Properties, respectively, which have since merged under Vici to form the largest casino landlord in the United States.
GLPI is the second-largest casino REIT with 68 gaming properties across 20 states. As a landlord, Gaming and Leisure Properties doesn’t operate casinos directly, but its success is closely tied to the health of land-based gaming operations. GLPI leases the operations and management of its physical casinos and resorts that it owns, with rents and lease renewals heavily based on market performance.
GLPI signing on to the NAAiG is in contrast to its largest shareholder, Penn Entertainment, which has been rather supportive of iGaming efforts.
Jeff Morris, Penn Entertainment’s vice president of public affairs, said last year during Ohio’s consideration of iGaming that online gaming has been a “catalyst for growth” for the company’s physical casinos in states where brick-and-mortar casinos and iGaming coexist.
Morris didn’t immediately respond to Casino.org’s request for comment for this article.
Opportune Time
GLPI’s joining the NAAiG comes as Maine lawmakers approved legislation to authorize iGaming. The statute would grant the state’s four tribes exclusive privileges to such gaming. GLPI is the landlord of Hollywood Casino Hotel & Raceway Bangor, which Penn runs.
Next week, a state legislative committee in Massachusetts is set to deliberate an iGaming bill. GLPI is also invested there by way of Plainridge Park Casino, another Penn facility.
Other states that mulled iGaming where GLPI owns properties include Ohio, Maryland, Indiana, Illinois, and Louisiana. GLPI owns 19 casinos in those four states.
GLPI also owns casinos in states where iGaming currently exists. They include Bally’s Dover in Delaware, Tropicana Atlantic City, Hollywood Casino at Penn National Race Course, Hollywood Casino at The Meadows, Hollywood Casino Morgantown, Live! Casino & Hotel Philadelphia, and Live! Casino Pittsburgh in Pennsylvania, Bally’s Tiverton in Rhode Island, and Hollywood Casino at Charles Town Races in West Virginia.
The post Casino Real Estate Trust Gaming and Leisure Properties Joins iGaming Opposition appeared first on Casino.org.
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