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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2015
STOCK-BASED COMPENSATION |
Summary of stock option activity | A summary of the stock option activity as of and for the year ended December 31, 2015 is presented below:
|  |  |  | Weighted Average |  |  |
Options |  | Shares |  | Exercise Price |  | Remaining Contractual Term |  | Aggregate Intrinsic Value |
Outstanding at beginning of period |  | 2,002,203 |  | $ | 13.73 |  | — |  | — |
Granted |  | 492,957 |  | 18.94 |  | — |  | — |
Exercised |  | (389,905 | ) | 10.00 |  | — |  | — |
Forfeited |  | (66,668 | ) | 14.81 |  | — |  | — |
Expired |  | — |  | — |  | — |  | — |
Outstanding at end of period |  | 2,038,587 |  | $ | 15.66 |  | 7.1 yrs. |  | $ | 15,080,254 |
Exercisable at end of period |  | 798,583 |  | $ | 14.08 |  | 4.8 yrs. |  | $ | 7,592,610 |
Summary of status of the Company's nonvested shares |
Nonvested Shares |  | Shares |  | Weighted-Average Grant Date Fair Value |
Nonvested at January 1, 2015 |  | 1,173,143 |  | $ | 3.91 |
Granted |  | 492,957 |  | 5.87 |
Vested |  | (359,428 | ) | 2.90 |
Forfeited |  | (66,668 | ) | 4.05 |
Nonvested at December 31, 2015 |  | 1,240,004 |  | $ | 4.97 |
Schedule of option valuation assumptions for options granted | Option valuation assumptions for options granted during each year were as follows (in thousands, except per share amounts and percentages):
|  | Years ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Expected volatility |  | 39.10 | % | 34.95 | % | 37.03 | %
Expected dividends |  | — |  | — |  | — |
Expected life (in years) |  |  |  |  |  |  |
Directors’ plan |  | 3.97 |  | 3.59 |  | 3.32 |
Executives plan |  | 4.28 |  | 4.31 |  | 4.48 |
Employees plan |  | 3.97 |  | 3.59 |  | 3.32 |
Weighted average risk free rate |  | 1.14 | % | 1.06 | % | 0.85 | %
Weighted average grant date fair value per share of options granted |  | $ | 5.90 |  | $ | 4.02 |  | $ | 5.38 |
Total fair value of shares vested |  | $ | 1,041 |  | $ | 913 |  | $ | 1,123 |
Total intrinsic value of options exercised |  | $ | 4,321 |  | $ | 8,921 |  | $ | 2,737 |
Cash received for all stock option exercises |  | $ | 3,900 |  | $ | 12,595 |  | $ | 3,438 |
Tax benefit realized from stock awards exercised |  | $ | 1,512 |  | $ | 3,122 |  | $ | 958 |
Schedule of stock-based compensation expense | Reported stock-based compensation expense was classified as follows (in thousands):
|  | For the years ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Casino |  | $ | 58 |  | $ | 45 |  | $ | 20 |
Food and beverage |  | 85 |  | 68 |  | 33 |
Hotel |  | 21 |  | 11 |  | 3 |
Selling, general and administrative |  | 1,380 |  | 1,102 |  | 1,164 |
Total stock-based compensation, before taxes |  | 1,544 |  | 1,226 |  | 1,220 |
Tax benefit |  | (540 | ) | (429 | ) | (427 | )
Total stock-based compensation, net of tax |  | $ | 1,004 |  | $ | 797 |  | $ | 793 |

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