Property And Equipment

12 Months Ended

Dec. 31, 2022

4. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2022 and 2021 consisted of the following:



	December 31,
Amounts in thousands	2022		2021
Land	$	43,654	$	49,948
Buildings and improvements		436,207		450,280
Gaming equipment		43,590		41,523
Furniture and non-gaming equipment		47,166		46,896
Property and equipment held under finance leases (Note 9)		764		424
Capital projects in process		18,954		4,086
	$	590,335	$	593,157
Less: accumulated depreciation		(125,685)		(112,433)
Less: assets held for sale		—		(8,422)
Property and equipment, net	$	464,650	$	472,302

Depreciation expense was $23.5 million, $23.1 million and $22.9 million for the years ended December 31, 2022, 2021 and 2020, respectively. No long-lived asset impairment charges were recorded for the years ended December 31, 2022, 2021 and 2020.

In December 2020, the Company began to market the sale of the land and building that it owned in Calgary, Alberta, Canada. The Company recorded assets held for sale that included $4.8 million in land and $3.6 million in building and improvements, net of accumulated depreciation as of December 31, 2021. In February 2022, the Company sold the land and building. Until the sale, the Company operated Century Sports from this location and leased a portion of the land and building.