Gaming and Leisure Properties, Inc.

Greetings, and welcome to the Gaming and Leisure Properties third quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. A brief 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. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Joe Jafone, Investor Relations. Thank you, sir. You may begin.

Thank you, Christine, and good morning, everyone, and thank you for joining Gaming and Leisure Properties' third quarter 2024 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 Leisure Properties. Also joining today's call are Brandon Moore, President and Chief Operating Officer, 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, it's my pleasure to turn the call over to Peter Carlino. Peter, please go ahead.

Well, thank you, Joe, and good morning, everyone. We are, of course, pleased to present our third quarter earnings result, which I think demonstrate our success in continuing to build upon our outstanding portfolio of of gaming properties to encapsulate what I believe is the most important summary of this. Let me read from the last line of my quoted press release comments. I think it does the best job of summarizing how we feel about where we are. We believe our ability to develop investment activity in 2024 of nearly $2 billion and an attractive blended yield of 8.4%, is a firm affirmation of GLPI's disciplined capital investment approach. The combination of our unrivaled gaming and real estate experience and their strong balance sheet has positioned GLPI as a development funding and real estate partner of choice for operators of all sizes and has created a platform for near and long-term growth and appreciation of shareholder value. I might also add that And to affect that, we have been very successful in doing significant pre-funding to date. But I'm going to leave that to Desiree Burke, who I know is going to share her comments. Des, why don't you go ahead?