GLPI’s Steven Ladany to lead merger, acquisition & development efforts

Real estate investment trust Gaming and Leisure Properties has promoted Steven Ladany to the role of senior vice president and chief development officer, where he will lead the firm’s ongoing merger, acquisition and development efforts. 

Ladany first joined the Wyomissing, Pennsylvania-based company in September 2014 as vice president of finance, and served in the position until March 2019, when he was named senior vice president of finance. 

Prior to joining GLPI, Ladany was a vice president at Revel Casino Hotel, a regional gaming property currently known as Ocean Casino Resort, as well as a vice president at J.P. Morgan in the syndicated and leveraged finance group within the firm’s investment banking division.  

GLPI’s portfolio currently consists of 44 gaming and related facilities across 16 states, with tenants including Penn National Gaming, Casino Queen, Eldorado Resorts, and Boyd Gaming Corporation

The company also owns and operates Hollywood Casino Perryville, located in Maryland, and Hollywood Casino Baton Rouge, however, the two properties are to be sold to Penn National Gaming and Casino Queen Holding Company, respectively, in a combined $59.3m deal.

“Steve brings extensive gaming industry and finance experience to his new role and has played an active role in identifying and consummating transactions for GLPI with prospective and existing tenants over the past six years,” said Peter Carlino, chairman and CEO of GLPI

“He has fostered deep, collegial and collaborative relationships across the gaming sector and with our roster of industry-leading tenants. We look forward to Steve’s continuing contributions as we prudently, yet aggressively seek to further expand and diversify our tenant roster, grow our dividend and create new long-term value for our shareholders.”

Earlier this week GLPI named Matthew Demchyk as chief investment officer, who took up the role immediately and will report directly to Carlino. In the position Demchyk will lead GLPI’s investment strategy and be responsible for capital allocation, the evaluation of opportunities outside of the gaming sector, and the development of strategic relationships.