v3.25.2
PROPERTY PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2025
PROPERTY PLANT AND EQUIPMENT  
PROPERTY, PLANT AND EQUIPMENT

NOTE 9 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment, net, consists of the following for the periods indicated:

 

Description

 

As of

June 30,

2025

 

 

As of

December 31,

2024

 

Land

 

$29,362

 

 

$26,084

 

Buildings, net

 

 

10,173,772

 

 

 

9,190,949

 

Slots and machines, net

 

 

11,849,410

 

 

 

11,065,973

 

Equipment, net

 

 

3,366,154

 

 

 

3,348,069

 

Computers, net

 

 

1,623,591

 

 

 

1,719,679

 

Televisions, net

 

 

295,385

 

 

 

302,348

 

Investment in third party property, plant and equipment

 

 

1,786,040

 

 

 

1,778,105

 

Total property, plant and equipment, net

 

$29,123,714

 

 

$27,431,207

 

 

Investment in third party property represents leasehold improvements that are in rented premises for retail betting.

 

Advances for property, plant and equipment represent the purchase of the premises in Montenegro. These premises are still in the process of construction.

 

Depreciation expenses were $1,344,024 and $826,664, for the three months ended June 30, 2025, and 2024, respectively, and $2,780,271 and $2,028,263, for the six months ended June 30, 2025, and 2024, respectively.