3. RECEIVABLES, NET

Accounts Receivable and Credit Risk. Accounts receivable consist primarily of casino, hotel, certain sports wagering contracts that paid us in arrears until mid-2024, and other receivables. Accounts receivable are typically non-interest bearing, recorded initially at cost, and are carried net of an appropriate reserve to approximate fair value. Loss reserves are estimated based on specific review of customer accounts including the customers’ willingness and ability to pay and nature of collateral, if any, as well as historical collection experience and current and expected economic and business conditions. Accounts are written off when management deems the account to be uncollectible and recoveries of accounts previously written off are recorded when received.

Accounts receivable consists of the following:

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The following table shows the movement in the provision for credit losses recognized for accounts receivable that occurred during the respective periods:

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Management regularly evaluates the adequacy of the Company’s recorded reserves. At June 30, 2025, we believe that no significant concentrations of credit risk existed for which a reserve had not already been recorded.