Receivables, net

6 Months Ended

Jun. 30, 2020

Accounts Receivable and Credit Risk

Receivables, net consisted of the following (in thousands):


	June 30, 2020		December 31, 2019
Casino	$	264,186	$	304,137
Hotel	8,197		22,114
Other	112,255		59,495
	384,637		385,746
Less: allowance for credit losses	(88,319)		(39,317)
	$	296,318	$	346,429

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino receivables. As of June 30, 2020 and December 31, 2019, approximately 82.3% and 79.0%, respectively, of the Company's markers were due from customers residing outside the United States, primarily in Asia. Business or economic conditions or other significant events in the countries in which our customers reside could affect the collectability of such receivables. The Company believes the concentration of its credit risk in casino receivables is mitigated substantially by its credit investigation process, credit policies and collection procedures.

The Company’s allowance for casino credit losses was 31.9% and 12.4% of gross casino receivables as of June 30, 2020 and December 31, 2019, respectively. The increase in allowance for casino credit losses is primarily due to the impact of historical collection patterns and expectations of current and future collection trends in light of the COVID-19 pandemic, as well as the specific review of customer accounts. Although the Company believes that its allowance is adequate, it is possible the estimated amounts of cash collections with respect to receivables could change. The Company’s allowance for credit losses from its hotel and other receivables is not material.

The following table shows the movement in the Company's allowance for credit losses recognized for receivables that occurred during the period (in thousands):


	June 30, 2020		June 30, 2019
Balance at beginning of year	$	39,317	$	32,694
Provision for credit losses	48,960		9,003
Write-offs	(144)		(12,391)
Recoveries of receivables previously written-off	60		—
Effect of exchange rate	126		54
Balance at end of period	$	88,319	$	29,360