Prepaid Expenses and Other Assets

The Company has participated in the New York State Empire Zones real estate tax credit program for over 10 years. Under this program, the Company receives a refund for real estate taxes paid during the year, after the end of New York State's fiscal year. Beginning in 2014, the amount of the tax credit received is reduced by 20% each year until the tax credit ends for the Company at December 31, 2017. For the year ended December 31, 2016, the Company will receive a 40% refund for real estate taxes paid. The amounts of the unreceived real estate tax credits are included in prepaid expenses and other current assets on the accompanying consolidated balance sheet at December 31, 2016 and 2015, and were approximately $1.3 million and $1.9 million, respectively.

Prepaid expenses and other current assets, as presented on the balance sheet are comprised of the following at December 31, 2016 and 2015:




	12/31/2016		12/31/2015
	(in thousands)

Empire zone real estate tax credit	$	1,325	$	1,945
Prepaid real estate taxes	558		548
Prepaid insurance	919		236
Prepaid rent payment	—		500
Inventory	177		207
Prepaid gaming expenses	61		46
Development escrow & security refundable deposit	623		911
Prepaid other	672		448
Total prepaid expenses and other current assets	$	4,335	$	4,841