XML 44 R19.htm IDEA: XBRL DOCUMENT
v2.4.0.8

SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
SEGMENT INFORMATION |
Schedule of adjusted EBITDA and reconciliation of adjusted EBITDA to net income |
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Net revenue |  |  |  |  |  |  |  |  |
Atlantis |  | $ | 37,134,295 |  | $ | 34,884,096 |  | $ | 108,429,648 |  | $ | 102,251,479 |
Monarch Black Hawk (a) |  | 11,855,184 |  | 11,144,130 |  | 35,815,562 |  | 19,147,157 |
Total net revenue |  | $ | 48,989,479 |  | $ | 46,028,226 |  | $ | 144,245,210 |  | $ | 121,398,636 |
Adjusted EBITDA (b) |  |  |  |  |  |  |  |  |
Atlantis |  | $ | 9,749,013 |  | $ | 8,955,232 |  | $ | 30,117,875 |  | $ | 24,548,954 |
Monarch Black Hawk (a) |  | 4,088,242 |  | 4,085,155 |  | 12,926,192 |  | 6,631,341 |
|  | 13,837,255 |  | 13,040,387 |  | 43,044,067 |  | 31,180,295 |
Corporate and other (c) |  | (1,054,698 | ) | (707,723 | ) | (3,362,570 | ) | (2,689,761 | )
Total Adjusted EBITDA |  | 12,782,557 |  | 12,332,664 |  | 39,681,497 |  | 28,490,534 |
Expenses |  |  |  |  |  |  |  |  |
Stock-based compensation |  | (294,381 | ) | (352,900 | ) | (816,636 | ) | (938,251 | )
Depreciation and amortization |  | (3,549,106 | ) | (4,647,002 | ) | (12,572,414 | ) | (12,282,291 | )
Acquisition expenses |  | — |  | (455,000 | ) | — |  | (2,155,522 | )
Interest expense |  | (411,243 | ) | (490,973 | ) | (1,493,570 | ) | (1,396,632 | )
Provision for income taxes |  | (3,008,318 | ) | (2,249,708 | ) | (8,897,128 | ) | (4,146,633 | )
Net Income |  | $ | 5,519,509 |  | $ | 4,137,081 |  | $ | 15,901,749 |  | $ | 7,571,205 |
(a) We acquired Monarch Black Hawk on April 26, 2012. (b) We define Adjusted EBITDA, a non-GAAP measure, for each segment as net income plus provision for income taxes, interest expense, acquisition expense, management fee income or expense, gain or loss on disposal of assets, depreciation and amortization and stock-based compensation. Adjusted EBITDA should not be construed as an alternative to operating income (as determined in accordance with generally accepted accounting principles) as an indicator of the Company’s operating performance, as an alternative to cash flows from operating activities (as determined in accordance with generally accepted accounting principles) or as a measure of liquidity. This item enables comparison of the Company’s performance with the performance of other companies that report Adjusted EBITDA, although some companies do not calculate this measure in the same manner and therefore, the measure as presented may not be comparable to similarly titled measures presented by other companies. (c) Corporate and other represents unallocated payroll, professional fees, travel expenses and other general and administrative expenses not directly related to our casino and hotel operations.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration