Coronavirus fears drive down shares of gaming REITs over potential tenant bankruptcy

Analysts expressed surprise that gaming-centric real estate investment trusts suffered steep declines when the markets crashed in the last two weeks over the growing COVID-19 coronavirus pandemic. Pennsylvania-based Gaming and Leisure Properties took one of the hardest hits. GLPI’s stock price declined 74% in less than a month, even as directors bought back shares in an effort to boost confidence in the company. Chairman and CEO Peter Carlino spent more than $1 million to buy 47,000 GLPI shares at between $20.10 and $21.35. GLPI closed Friday at $19.13.

Read more: Howard Stutz, CDC Gaming Reports