Property and Equipment

6 Months Ended

Jun. 30, 2012

Property and Equipment

Property and Equipment

6.  Property and Equipment

Property and equipment, net, consists of the following:

	June 30,			December 31,
	2012			2011
	(in thousands)
Land and improvements	$	372,633		$	362,402
Building and improvements	1,854,582			1,715,144
Furniture, fixtures, and equipment	1,149,001			1,021,362
Leasehold improvements	16,910			16,910
Construction in progress	208,239			256,459
Total property and equipment	3,601,365			3,372,277
Less accumulated depreciation	(1,181,278		)	(1,095,077		)
Property and equipment, net	$	2,420,087		$	2,277,200

Total property and equipment, before accumulated depreciation, increased by $229.1 million primarily due to expenditures for Hollywood Casino Toledo, which opened on May 29, 2012, and Hollywood Casino Columbus, which is under construction and expected to open early in the fourth quarter of 2012.

Depreciation expense, for property and equipment, totaled $56.7 million and $109.9 million for the three and six months ended June 30, 2012, respectively, as compared to $53.4 million and $105.8 million for the three and six months ended June 30, 2011, respectively.  Interest capitalized in connection with major construction projects was $3.0 million and $5.9 million for the three and six months ended June 30, 2012, respectively, as compared to $1.0 million and $1.8 million for the three and six months ended June 30, 2011, respectively.