10 Best Casino Stocks that Pay Dividends

6. Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Number of Hedge Fund Holders: 25

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is an American real estate investment trust company that specializes in casino properties. In the most recent quarter, the company has shown its capability to explore innovative approaches to enhance shareholder value. Initially, it agreed to finance and manage a landside development project and hotel renovation for the Belle of Baton Rouge on behalf of its tenant, Casino Queen. This follows the successful earlier agreement to fund the landside relocation of The Queen Baton Rouge. Since the start of 2024, the stock has surged by nearly 4.5% and its 12-month return came in at over 6%.

In the second quarter of 2024, Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) reported a 6.7% YoY growth in revenues at $380.6 million. The revenue also beat analysts’ estimates by $2.74 million. The company continued to capitalize on its steady cash flow and benefit from its exceptional roster of leading operators in the gaming industry. Additionally, its ongoing success in expanding its tenant base highlights its opportunistic approach to portfolio growth and its ability to collaborate with current tenants to explore new and exciting expansion opportunities.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is also a strong company from a cash flow point of view. Its trailing twelve-month operating cash flow comes in at $1.03 billion and the levered free cash flow for the period is $285 million. The company ended the quarter with nearly $95 million available in cash and cash equivalents and its total assets amounted to over $11.7 billion.

On August 28, Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) declared a quarterly dividend of $0.76 per share, which was consistent with its previous dividend. Overall, the company has been growing its payouts for three consecutive years, which makes GLPI one of the best casino stocks on our list. As of September 12, the stock has a dividend yield of 5.84%.

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was a part of 25 hedge fund portfolios at the end of Q2 2024, compared with 31 in the previous quarter, according to Insider Monkey’s database. The stakes held by these hedge funds have a total value of over $308.4 million. Ken Griffin’s Citadel Investment Group was the company’s largest stakeholder in Q2.