COMMITMENTS AND CONTINGENCIES Leases MontBleu Lease The Company has a lease agreement with respect to the land and building which MontBleu operates, through December31, 2028. Under the terms of the lease, rent is $333,333 per month, plus 10% of annual gross revenues in excess of $50million through December31, 2011. After December31, 2011, rent is equal to the greater of (i) $333,333 per month as increased by the same percentage that the consumer price index has increased from 2009 thereafter, plus 10% of annual gross revenues in excess of a Breakpoint as defined in the terms of the lease agreement, or (ii) 10% of annual gross revenues. In connection with fresh-start reporting, the Company recognized an unfavorable lease liability of $9.6 million related to this lease that is amortized on a straight-line basis to rental expense over the term of the lease. The unfavorable lease liability balance was $6.1 million and $6.7 million as of December31, 2016 and 2015 , respectively, of which $5.6 million and $6.1 million is included in other long-term liabilities on the accompanying consolidated balance sheets as of December31, 2016 and 2015 , respectively. In October 2014, Columbia Properties Tahoe, LLC (CPT), the Companys subsidiary that owns MontBleu, entered into a lease amendment with Edgewood Companies (Landlord) pursuant to which CPT agreed to expend $24.0 million by March 31, 2016 on capital renovation projects in exchange for certain lease modifications including future capital expenditure requirements and a Landlord acknowledgment that upon completion of the capital renovation project the property will satisfy the first class facility requirements of the lease. As of December 31, 2015, the Company had completed the $24 million capital renovation project. Tropicana Evansville Land Lease The Company leases from the City of Evansville, Indiana approximately ten acres of the approximately 20 acres on which Tropicana Evansville is situated. In January 2016 the Company and the City of Evansville entered i