Full House Resorts, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

At December 31, 2013 and 2012, property and equipment consists of the following (in thousands):

	2013			2012
Land and improvements	$	11,670		$	9,907
Buildings and improvements		72,570			70,401
Furniture and equipment		26,943			19,338
Construction in progress		3,081			311
		114,264			99,957
Less accumulated depreciation		(23,096	)		(16,284	)
	$	91,168		$	83,673

The construction in progress was primarily related to construction costs for the Silver Slipper Casino Hotel (Note 11) and the renovation of the Silver Slipper garage and also included capitalized interest of $0.03 million related to these projects.

Leased property and equipment of $7.6 million, as of December 31, 2013, related to the Rising Star Casino Resort capital lease (Note 7) is also included in the schedule above.

At December 31, 2013 and 2012, leased property and equipment consisted of the following (in thousands):

	2013			2012
Leased land and improvements	$	215		$	--
Leased buildings and improvements		5,787			--
Leased furniture and equipment		1,717			--
		7,719			--
Less accumulated amortization		(83	)		--
	$	7,636		$	--

Amortization related to the Rising Star Casino Resort capital lease is combined with depreciation expense.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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