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Note 8. Intangible and Other Assets Related to Indian Casino Projects

9 Months Ended

Sep. 29, 2013

Intangible And Other Assets Related To Projects [Abstract]

Intangible And Other Assets Related To Projects

8. Intangible and Other Assets Related to Indian Casino Projects

Intangible Assets

Intangible assets related to Indian casino projects consisted of costs associated with the acquisition of the development and management agreement with the Shingle Springs Tribe for the Red Hawk Casino which were being amortized through the end of the management contract. In accordance with the Debt Termination Agreement with the Shingle Springs Tribe as discussed in note 3,Debt Termination Agreement with the Shingle Springs Tribe, the management agreement under which Lakes was managing the Red Hawk Casino terminated as of August 29, 2013. Therefore, Lakes will earn no fees from the management of the Red Hawk Casino subsequent to August 29, 2013. As a result, as of the Payment Date, the intangible assets related to the Shingle Springs Tribe were considered fully impaired and were written down to zero.

Information with respect to the intangible assets related to the Shingle Springs Tribe is summarized as follows (in thousands):

	Shingle Springs Tribe
Balances, December 30, 2012	$	3,127
Amortization		(716	)
Impairment losses		(2,411	)
Balances, September 29, 2013	$	—

Management Fees Receivable and Other

Management fees receivable and other included financial instruments related to deferred management fees and interest due from the Shingle Springs Tribe and other receivables of $4.8 million as of December 30, 2012. Per the terms of the Debt Termination Agreement, all earned and unpaid management fees were paid in full on August 29, 2013. Other receivables of approximately $1.0 million from related parties that are directly related to the development and opening of Lakes’ Indian casino projects were determined to be uncollectible and were impaired during the three months ended September 29, 2013. As a result, there were no management fees receivable and other as of September 29, 2013.