Gaming and Leisure Properties, Inc., the gaming-focused real estate investment trust controlled by Penn National Gaming, announced that Steven T. Snyder has been appointed to the role of chief financial officer. Snyder has served as GLPI’s senior vice president of corporate development and interim CFO since May 4, and prior to that was senior vice president of corporate development.
Snyder held the latter position at the time of GLPI’s spin-off from Penn National Gaming in November 2013.
As chief financial officer, Snyder is responsible for the oversight of all of GLPI’s financial and treasury functions including financial reporting, bank relationships, conducting internal and industry analysis to support the company’s goals for growth, investor relations, and M&A activity.
Peter M. Carlino, chief executive officer of Gaming and Leisure Properties, commented, “I have worked closely with Steve for more than 20 years and I am confident that he possesses the leadership skills, expertise and drive that will continue to distinguish GLPI as a leader among triple-net-lease REITs. From our formation as the first gaming industry REIT, Steve has been integral to our ability to execute on our growth strategy, which has resulted in GLPI owning 46 properties in 16 states, by far the largest and broadest distribution in the United States.
“As a result, our diversified portfolio of regional gaming assets managed by top operators in the industry continues to produce one of the triple-net REIT sector’s most stable cash flow streams.”
Prior to GLPI’s spinoff from Penn National Gaming, Snyder served as Penn National’s senior VP of corporate development for 10 years, responsible for identifying and conducting internal and industry analysis of potential acquisitions, partnerships and other opportunities. He joined Penn National as vice president of corporate development in May 1998 and held that position until his promotion to SVP in 2003.
