Gaming and Leisure Properties, Inc.

Greetings. Welcome to Gaming and Leisure Properties' third quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Joe Giaffone, Investor Relations. Thank you. You may begin. Thank you.

Thank you, Sherry, and good morning, everyone, and thank you for joining Gaming and Leisure Properties' third quarter 2022 earnings call and webcast. The press release distributed yesterday afternoon is available in the investor relations section on our website at www.glpropinc.com. On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters that are subject to risks and uncertainties that may cause actual results to differ materially from those discussed today. Forward-looking statements may include those related to revenue, operating income, and financial guidance, as well as non-GAAP financial measures such as FFO and AFFO. As a reminder, forward-looking statements represent management's current estimates, and the company assumes no obligation to update any forward-looking statements in the future. We encourage listeners to review the more detailed discussions related to risk factors and forward-looking statements contained in the company's filings with the SEC, including its 10Q and in the earnings release, as well as the definitions and reconciliations of non-GAAP financial measures contained in the company's earnings release. On this morning's call, we are joined by Peter Carlino, Chairman and Chief Executive Officer at Gaming and Leisure Properties. Also joining today's call are Brandon Moore, Chief Operating Officer, General Counsel and Secretary. Desiree Burke, Chief Financial Officer and Treasurer, Steve Ladney, Senior Vice President and Chief Development Officer, and Matthew Demchek, Senior Vice President and Chief Investment Officer. With that, and as always, it's my pleasure to turn the call over to Peter Carlino. Peter, please go ahead.

Well, thank you, Joe, and good morning, everyone. Here with our entire team, as usual, hopefully to answer your questions thoroughly. We're very happy to report today. Another eventful quarter. And as always, this is all well detailed in our press release. But notably, we have closed on the Tropicana property in Las Vegas with Bally's and begun our 50-year ground lease. Pretty excited to finally put that one to bed. And we're working to close what will likely be a combination of Tiverton and Biloxi. also with valleys, of course, subject to a final approval in Rhode Island, which we are hopeful will happen fairly soon. And finally, and I think most notably, we have opened what I'll call a pipeline. That's a word that many of you know I hate, as we've never had a pipeline. We kind of make it day by day. But in this case, we actually have done that with Penn National. Forgive me, Penn Entertainment. I've had 50 years to call that place Penn National. So I'm looking across the street through our window right now saying, I guess it's now Penn Entertainment, which is pretty exciting. We have worked with them to allow them to take a couple of properties out of our existing master lease, Aurora and Joliette, and move to much more advantageous locations in a pretty exciting transaction. Also, we will fund a long overdue hotel in Columbus, which you would recognize was much more difficult, if not impossible for them, with the lease arrangement that we previously had. So all of this transaction was done to make some of these things possible. Also, we are talking about another tower at the M in Las Vegas, which is having great success in that market. So these are some pretty exciting opportunities for us to put money to use with one of our major tenants and then consolidate all these new properties and a couple of stragglers we had out there independently under a new master lease with terms that are more fixed which is something that we've wanted to achieve for a long period of time. So all in all, there's a lot of good stuff happened this quarter, and we're looking forward to the balance of this year into what ought to be a strong year next year as well. With that, let me ask Desiree Burke to highlight some financial items.