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Note 19. Subsequent Event | 6 Months Ended
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Jun. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | 19. Subsequent Event On July 17, 2013, Lakes entered into a Debt Termination Agreement (the “Agreement”) with the Shingle Springs Tribe relating to amounts Lakes had previously advanced to the Shingle Springs Tribe for the development of the Red Hawk Casino. The Agreement requires certain conditions to be met, including a lump sum payment by the Shingle Springs Tribe to Lakes of $57.1 million (the “Debt Payment”) on or before December 31, 2013, subject to extension for 120 days. The Debt Payment will constitute full and final payment of all debt owed to Lakes as of the date the payment is made (“Payment Date”). Upon the Payment Date, the management agreement under which Lakes is managing the Red Hawk Casino will terminate. Until the Payment Date, Lakes will continue to manage the Red Hawk Casino, all existing agreements between the Shingle Springs Tribe and Lakes will remain in effect, and the Shingle Springs Tribe is required to make all payments that it has been making under the existing agreements. Additionally, if the Debt Payment does not occur on or before December 31, 2013, the Shingle Springs Tribe will be required to start making principal payments on the existing debt. If all of the conditions under the Agreement, including the Debt Payment, are not met, then all existing agreements between Lakes and the Shingle Springs Tribe will remain in effect until their original expiration under their existing terms. The timing of the receipt of the Debt Payment is not certain and payment cannot be guaranteed. If the Debt Payment becomes likely or is received, Lakes currently anticipates recording a gain in the Company’s consolidated statement of operations due to the fact that the recorded carrying value of the notes and interest receivable are less than the amount of the Debt Payment. The amount of any gain to be recognized would be calculated when the Payment Date is determined.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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