Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following (in thousands):
 
December 31,
 
2015
 
2014
Land and improvements
$
12,657

 
$
11,670

Buildings and improvements
90,636

 
73,997

Furniture and equipment
31,899

 
27,951

Construction in progress
13

 
11,264

 
135,205

 
124,882

Less accumulated depreciation
(36,223
)
 
(29,842
)
 
$
98,982

 
$
95,040



The hotel at Silver Slipper opened in phases, beginning in May 2015 and was completed during the third quarter. The total costs incurred for the construction of the hotel were $20.5 million.  During 2014, we disposed of certain assets primarily related to a partial hotel remodel at Rising Star Casino Resort and recorded a $0.4 million loss on disposal.

At December 31, 2015 and 2014, property and equipment under capitalized leases, detailed in the table below (in thousands), is related to the 104-room hotel at Rising Star Casino Resort (Note 7) and is also included in the schedule above.
 
December 31,
 
2015
 
2014
Leased land and improvements
$
215

 
$
215

Leased buildings and improvements
5,787

 
5,787

Leased furniture and equipment
1,724

 
1,717

 
7,726

 
7,719

Less accumulated amortization
(1,081
)
 
(582
)
 
$
6,645

 
$
7,137



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