| PROPERTY AND EQUIPMENT, NET |
4. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: | | | | | | | (In thousands) | | December 31, | | | 2025 | | 2024 | Land and improvements | | $ | 49,018 | | $ | 35,644 | Buildings and improvements | | | 445,073 | | | 444,513 | Furniture and equipment | | | 93,678 | | | 92,860 | Construction in progress | | | 7,587 | | | 15,922 | | | | 595,356 | | | 588,939 | Less: Accumulated depreciation | | | (182,900) | | | (142,265) | | | $ | 412,456 | | $ | 446,674 |
Property and equipment included assets under finance leases related to our hotel at Rising Star (see Note 8) are as follows: | | | | | | | (In thousands) | | December 31, | | | 2025 | | 2024 | Leased land and improvements | | $ | 215 | | $ | 215 | Leased buildings and improvements | | | 5,787 | | | 5,787 | Leased furniture and equipment | | | 1,133 | | | 1,133 | | | | 7,135 | | | 7,135 | Less: Accumulated amortization | | | (3,047) | | | (2,890) | | | $ | 4,088 | | $ | 4,245 |
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