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, 2017, the Company will receive a 20% 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, 2017 and 2016, and were approximately $814,000 and $1.3 million, respectively.

Prepaid expenses and other current assets, as presented on the balance sheet are comprised of the following at December 31, 2017 and 2016:




	12/31/2017		12/31/2016
	(in thousands)

Empire zone real estate tax credit	$	814	$	1,325
Prepaid real estate taxes	443		558
Prepaid insurance	327		919
Inventory	174		177
Prepaid gaming expenses	74		61
Development escrow & security refundable deposit	780		623
Prepaid other	938		672
Total prepaid expenses and other current assets	$	3,550	$	4,335