Peter Carlino

Known For

• Founding Penn National Gaming and serving as its CEO from 1994 through 2013.
• Creating GLPI in 2013 through a tax-free spin-off, establishing a REIT dedicated to casino real estate.
• Maintaining leadership of GLPI while transferring Penn’s operating-company chair role to successors in 2019.

Career and Focus

Carlino has worked in an executive capacity at Carlino Capital Management since 1976, overseeing family businesses. He founded Penn National Gaming and led it as CEO beginning in 1994. In 2013 Penn completed a tax-free spin-off of Gaming and Leisure Properties, which became the first publicly traded REIT focused on owning gaming real estate. The structure separated casino land and buildings from gaming operations: GLPI owns property and leases it to casino operators, while operating companies retain responsibility for gaming activities and customer-facing businesses.

Carlino has served as GLPI’s chairman and CEO since its inception. At Penn, he served as chairman from 1994 to 2019 and has held the emeritus title since 2019. The two companies remain related through sale-leaseback arrangements and leases, but they are separate public issuers. GLPI’s strategy has expanded through acquisitions and lease transactions with operators, demonstrating the role of specialized REITs in financing regulated entertainment real estate. Carlino’s profile is therefore tied to corporate structuring and the gaming landlord model as well as the growth of Penn’s operating company. He also serves on the boards of Penn State Health and Penn State Health St. Joseph Regional Health Network.

Related Pages

• Investor People Hub
• National Investor Benchmarks Hub
• Gaming and Leisure Properties
• VICI Properties
• Source: Top 200 Global CRE People and Families

Sources

• GLPI leadership and business overview
• Penn Entertainment biography
• Penn National spin-off announcement
• Source: Top 200 Global CRE People and Families