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Property And Equipment
 12 Months Ended
Dec. 31, 2019
Property And Equipment [Abstract]  
Property And Equipment



5.   PROPERTY AND EQUIPMENT



Property and equipment at December 31, 2019 and 2018 consisted of the following:







 

 

 

 

 

 



 

 

 

 

 

 



 

December 31,

Amounts in thousands

 

2019

 

2018

Land

 

$

 49,369 

 

$

 48,090 

Buildings and improvements

 

 

 450,549 

 

 

 116,186 

Gaming equipment

 

 

 38,016 

 

 

 23,419 

Furniture and non-gaming equipment

 

 

 42,162 

 

 

 20,923 

Property and equipment held under finance leases (Note 10)

 

 

 731 

 

 

 1,496 

Capital projects in process

 

 

 2,065 

 

 

 41,963 



 

$

 582,892 

 

$

 252,077 

Less: accumulated depreciation

 

 

 (78,959)

 

 

 (65,060)

Property and equipment, net

 

$

 503,933 

 

$

 187,017 



 

 

 

 

 

 



Depreciation expense was $10.1 million, $9.0 million and $8.6 million for the years ended December 31, 2019,  2018 and 2017, respectively.



During the year ended December 31, 2019, the Company wrote down the leasehold improvements and other assets at CCB based on the losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment for casinos in England. The assets were valued using the following approaches: (i) income approach utilizing the business enterprise value which resulted in negative value, and (ii) a value in exchange basis which resulted in no value for the assets due to the current market for gaming in the UK. As a result of the valuation, the Company charged $8.0 million to impairment – intangible and tangible assets in the Corporate and Other segment on the Company’s consolidated statement of (loss) earnings for the year ended December 31, 2019.