Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
3. PROPERTY AND EQUIPMENT
 
At December 31, 2014 and 2013, property and equipment consists of the following (in thousands):
 
   
2014
    
2013
  
Land and improvements
   $ 11,670     $ 11,670  
Buildings and improvements
     73,997       72,570  
Furniture and equipment
     27,951       26,943  
Construction in progress
     11,264       3,081  
      124,882       114,264  
Less accumulated depreciation
     (29,842 )     (23,096 )
    $ 95,040     $ 91,168  
 
Construction in progress was primarily related to construction costs for the hotel at Silver Slipper Casino (Note 12) and certain repairs to the Silver Slipper Casino parking garage, including capitalized interest of $0.4 million and $0.03 million related to these projects during 2014 and 2013, respectively.  During 2014, we primarily disposed of certain assets related to the hotel remodel at Rising Star Casino Resort and recorded a $0.4 million loss on disposal.
 
At December 31, 2014 and 2013, property and equipment under capitalized leases, detailed in the table below, is related to the 104-room hotel at Rising Star Casino Resort (Note 6) and is also included in the schedule above.
 
   
2014
    
2013
  
Leased land and improvements
   $ 215     $ 215  
Leased buildings and improvements
     5,787       5,787  
Leased furniture and equipment
     1,717       1,717  
      7,719       7,719  
Less accumulated amortization
     (582 )     (83 )
    $ 7,137     $ 7,636  
 
Amortization related to the Rising Star Casino Resort capital lease is combined with depreciation expense.