Gaming and Leisure Properties Expands Board Expertise
Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) has announced a significant addition to its Board of Directors with the immediate appointment of Michael Borofsky as an independent director. This move expands the Board to eight members, and impressively, seven of those are labeled as independent, which meets the Nasdaq Stock Exchange's standards.
Meet Michael Borofsky
Michael Borofsky is not just a new name on the board; he is the founder of Mithrandir Ventures, which is a family office with diversified investments spanning industries such as gaming, healthcare, software, and climate technology. His expertise lies in building businesses that not only generate substantial cash flow but also maintain strong market positions, always with an eye on innovation and the integration of new technologies.
Insights from GLPI's Leadership
Peter Carlino, the Chairman and Chief Executive Officer of Gaming and Leisure Properties, expressed his enthusiasm for Borofsky’s appointment. He noted, “Michael has a proven track record in investing and advising companies through transformative growth. His financial acumen, capital allocation skills, and strategic insights will be a tremendous asset to our Board. We look forward to leveraging his vast experience in gaming, entertainment, and technology sectors.”
A Legacy of Leadership and Innovation
Before his role at Mithrandir Ventures, Michael Borofsky served as General Counsel at Gryphon Investors, a middle-market private equity fund managing around $9 billion in capital and overseeing multiple portfolio companies. His tenure at Gryphon saw him actively involved in management and investment decisions that shaped various businesses across consumer products, healthcare, and software.
Previous Experience and Credentials
Notably, Borofsky's impressive background includes being the Chief Operating and Strategy Officer at the Pohlad Companies, a diverse holding company with interests that include the Minnesota Twins and other revenue-generating businesses. He also spent 16 years in senior executive roles at MacAndrews & Forbes, focusing on sectors ranging from media to gaming. His early career began at Skadden, Arps, Slate, Meagher & Flom LLP, where he specialized in mergers and acquisitions, followed by a stint at Goldman Sachs as an analyst.
Educational Background
Michael's academic foundation is as commendable as his professional history. He earned a Bachelor of Arts with honors from Yale University, followed by a Juris Doctorate from Columbia University School of Law, where he achieved recognition as a Harlan Fiske Stone Scholar.
About Gaming and Leisure Properties
Gaming and Leisure Properties, Inc. is known for its unique niche in the real estate sector, focusing on acquiring and owning properties to be leased to gaming operators under triple-net lease agreements. This business model allows tenants to take charge of all aspects related to maintenance, insurance, taxes, and utilities, thus providing a stable revenue stream for the company.
Contact Information
If you would like to learn more about Gaming and Leisure Properties, or if you have inquiries related to investor relations, you may reach out to the following contacts:
Carlo Santarelli, Senior Vice President - Corporate Strategy & Investor Relations: 610/378-8232
For investor inquiries, contact Joseph Jaffoni at JCIR: 212/835-8500
Email Carlo at csantarelli@GLPROPINC.COM or Joseph at glpi@jcir.com.
Frequently Asked Questions
What is the main purpose of the Board appointment?
The appointment of Michael Borofsky enhances the Board's expertise, bringing valuable insights into financial strategy and growth opportunities.
How does this appointment impact the company's direction?
Michael will contribute to strategic decisions that may advance gaming and leisure properties' growth and tenant relationships.
Who is Michael Borofsky?
Michael Borofsky is an experienced investor and advisor, founder of Mithrandir Ventures, with a strong background in various sectors including gaming and healthcare.
What is Gaming and Leisure Properties, Inc. known for?
They specialize in acquiring and leasing real estate properties to gaming operators, utilizing a model that ensures stable revenue through triple-net leases.
How can I contact Gaming and Leisure Properties for investor inquiries?
You can reach Carlo Santarelli at 610/378-8232 or email him at csantarelli@GLPROPINC.COM.