Gaming and Leisure Properties Joins Group Opposing Stricter iGaming Regulations

Gaming and Leisure Properties, Inc. (GLPI), a significant real estate investment trust with deep roots in Penn Entertainment, is strategically positioning itself within the evolving landscape of iGaming regulations. To influence the legal framework surrounding digital betting, the company has recently decided to align itself with the National Association Against iGaming (NAAiG). This advocacy group focuses on shaping stricter iGaming regulations by opposing the expansion of online gaming, with the sole exception of sports betting.

Background

Casino Landlord: GLPI is recognized as a leading landlord in the casino sector, owning 68 casinos across the United States.
Membership in NAAiG: The NAAiG was established by casino operators eager to keep gambling experiences anchored in physical locations.
Community Protection: The NAAiG’s mission focuses on shielding communities from the dangers associated with online gambling.

By joining this coalition, GLPI seeks to influence state lawmakers against the proliferation of iGaming, which they believe threatens in-person gaming experiences.

gaming properties — Image by dimitrisvetsikas1969 from Pixabay

Industry Insights

NAAiG spokesperson Mark Stewart expressed that GLPI’s participation reinforces a collective awareness about the tangible risks posed by iGaming:

“When the future of in-person gaming is threatened, we lose entertainment venues, jobs, tax revenue, local investment, and vital economic anchors.”

Furthermore, the NAAiG counts prominent casino companies among its members, including:

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
Miami Valley Gaming

Among their claims, the NAAiG argues that iGaming exacerbates addiction issues, siphons tax revenue from local economies, and triggers job losses.

Market Position

GLPI stands as the second-largest casino-focused REIT, currently operating in:

While it doesn’t run casinos directly, GLPI’s financial performance is closely linked to the vitality of physical gaming establishments through property leases.

This strategic move to join the NAAiG contrasts sharply with its major shareholder, Penn Entertainment, which remains supportive of iGaming initiatives.

Current Legislative Climate

GLPI’s momentous decision coincides with legislative movements in various states:

Maine recently passed a bill permitting iGaming.
Massachusetts lawmakers are preparing to discuss iGaming bills.
Ohio, Maryland, Indiana, Illinois, and Louisiana are also revisiting iGaming opportunities.

This development reflects a complex landscape for casino investment and regulatory discussions in the US.

Conclusion

The active participation of GLPI within the NAAiG highlights the growing divide in the gaming industry between traditional operators and advocates for online gaming. It raises vital questions regarding the future of gaming in the US, as both sides present compelling arguments regarding community safety, economic impacts, and the preservation of local business interests.

As the debate continues, it’s crucial for members of the community and industry stakeholders to engage in discussions that will shape the future of gambling in the US.