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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2012
SEGMENT INFORMATION |
Schedule of adjusted EBITDA and reconciliation of adjusted EBITDA to net income |
|  | Three months ended June 30, |  | Six months ended June 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Net revenues: |  |  |  |  |  |  |  |  |
Atlantis |  | $ | 36,292,531 |  | $ | 37,159,873 |  | $ | 70,922,623 |  | $ | 70,445,689 |
Riviera Black Hawk (a) |  | 9,549,251 |  | — |  | 9,549,251 |  | — |
Total net revenue |  | $ | 45,841,782 |  | $ | 37,159,873 |  | $ | 80,471,874 |  | $ | 70,445,689 |
Adjusted EBITDA (b) |  |  |  |  |  |  |  |  |
Atlantis |  | $ | 7,767,747 |  | $ | 10,233,788 |  | $ | 15,588,817 |  | $ | 18,117,812 |
Riviera Black Hawk (a) |  | 2,546,186 |  | — |  | 2,546,186 |  | — |
|  | 10,313,933 |  | 10,233,788 |  | 18,135,003 |  | 18,117,812 |
Corporate and other expense (c) |  | (726,499 | ) | (716,032 | ) | (1,977,130 | ) | (2,084,350 | )
Total Adjusted EBITDA |  | $ | 9,587,434 |  | $ | 9,517,756 |  | $ | 16,157,873 |  | $ | 16,033,462 |
Expenses: |  |  |  |  |  |  |  |  |
Stock based compensation |  | (316,866 | ) | (412,959 | ) | (585,352 | ) | (877,840 | )
Depreciation and amortization |  | (4,260,205 | ) | (3,436,015 | ) | (7,635,289 | ) | (6,830,401 | )
Acquisition expense |  | (1,625,930 | ) | — |  | (1,700,521 | ) | — |
Interest expense |  | (577,000 | ) | (194,746 | ) | (905,661 | ) | (483,268 | )
Provision for income taxes |  | (1,014,675 | ) | (1,915,900 | ) | (1,896,925 | ) | (2,744,671 | )
Net income |  | $ | 1,792,758 |  | $ | 3,558,136 |  | $ | 3,434,125 |  | $ | 5,097,282 |
(a) | We acquired Riviera Black Hawk on April 26, 2012.
(b) | We define Adjusted EBITDA for each segment as net income plus provision for income taxes, interest expense, acquisition expense, depreciation and amortization and stock based compensation.
(c) | Corporate and other expenses represent unallocated payroll, professional fees, travel expenses and other general and administrative expenses not directly related to our casino and hotel operations.
(d) | Corporate assets include assets not directly related to our casino and hotel operations and the assets of our non-operating subsidiaries.
Schedule of reconciliation of assets |
| June 30, 2012 |  | December 31, 2011 |
Assets: |  |  |  |  |
Atlantis |  | $ | 153,549,688 |  | $ | 171,303,164 |
Riviera Black Hawk (a) |  | 88,517,691 |  | — |
Corporate and other (d) |  | 7,005,801 |  | 8,296,440 |
Total assets |  | $ | 249,073,180 |  | $ | 179,599,604 |
(a) | We acquired Riviera Black Hawk on April 26, 2012.
(b) | We define Adjusted EBITDA for each segment as net income plus provision for income taxes, interest expense, acquisition expense, depreciation and amortization and stock based compensation.
(c) | Corporate and other expenses represent unallocated payroll, professional fees, travel expenses and other general and administrative expenses not directly related to our casino and hotel operations.
(d) | Corporate assets include assets not directly related to our casino and hotel operations and the assets of our non-operating subsidiaries.
Schedule of reconciliation of capital expenditure |
| Six Months Ended June 30, |
|  | 2012 |  | 2011 |
Capital Expenditures: |  |  |  |  |
Atlantis |  | $ | 2,431,917 |  | $ | 2,465,795 |
Riviera Black Hawk (a) |  | 2,670,325 |  | — |
|  | $ | 5,102,242 |  | $ | 2,465,795 |
(a) | We acquired Riviera Black Hawk on April 26, 2012.
(b) | We define Adjusted EBITDA for each segment as net income plus provision for income taxes, interest expense, acquisition expense, depreciation and amortization and stock based compensation.
(c) | Corporate and other expenses represent unallocated payroll, professional fees, travel expenses and other general and administrative expenses not directly related to our casino and hotel operations.
(d) | Corporate assets include assets not directly related to our casino and hotel operations and the assets of our non-operating subsidiaries.

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