Note 5—Write-downs, reserves and recoveries, net

Write-downs, reserves and recoveries, net consist of the following:



	For the three months ended March 31,
	2013			2012
	(in millions)
Loss (gain) on disposal of assets	$	0.3		$	(2.0	)
Reserve on uncollectable loan receivable	—			2.0
Gain on collection of loan receivables	(0.2		)	—
Impairment of assets	0.2			—
Write-downs, reserves and recoveries, net	$	0.3		$	—

Loss (gain) on disposal of assets: We recorded a loss of $0.3 million during the three months ended March 31, 2013, related to the disposal of slot and other equipment at our properties in the normal course of business. During the three months ended March 31, 2012, we recorded a net gain of $2.5 million related to settlement proceeds received from the U.S. Army Corps of Engineers related to the compensation for land commandeered and severance damages associated with construction of a floodwall and easement designation on our property in New Orleans, Louisiana. The gain was offset by losses on disposals of slot and other equipment and write-off of design fees in the normal course of business.

Reserve on uncollectable loan receivables: In January 2012, we made a $2.0 million loan to Federated Sports & Gaming, Inc. ("FSG"), and in February 2012, FSG filed for protection under Chapter 11 of the U.S. Bankruptcy Code. As a result of the filing, we determined it was appropriate to fully reserve for the loan receivable during the first quarter of 2012.

Gain on collection of loan receivables: During the first quarter of 2013, we recorded a net gain totaling $0.2 million related to collections on outstanding loan receivables over aggregate carrying values.

Impairment of assets: During the first quarter of 2013, we recorded an impairment charge totaling $0.2 million related to a decline in value of slot equipment removed from the casino floor.