XML 80 R15.htm IDEA: XBRL DOCUMENT

Note 9. Intangible and Other Assets Related to Indian Casino Projects

12 Months Ended

Dec. 29, 2013

Intangible And Other Assets Related To Projects [Abstract]

Intangible And Other Assets Related To Projects [Text Block]

9. 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 management, development, consulting, or financing contracts related to tribal gaming projects and were periodically evaluated for impairment after they were initially recorded.

Information with respect to the intangible assets by project is summarized as follows (in thousands):

	Shingle Springs *Tribe ()**			Jamul Tribe ()**			Total
Balance, January 1, 2012	$	4,184		$	—		$	4,184
Allocation of advances		—			1,766			1,766
Amortization		(1,057	)		—			(1,057	)
Impairment losses		—			(1,766	)		(1,766	)
Balance, December 30, 2012		3,127			—			3,127
Allocation of advances		—			—			—
Amortization		(716	)		—			(716	)
Impairment losses		(2,411	)		(—	)		(2,411	)
Balance, December 29, 2013	$	—		$	—		$	—

(*)	The intangible assets related to the Shingle Springs Tribe 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.

(**)	Lakes terminated the agreement with the Jamul Tribe in March 2012, and therefore recognized an impairment charge of $1.8 million in fiscal 2012 related to this project. The impairment losses are included in impairments and other losses in the consolidated statements of operations for fiscal 2012.

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. During the third quarter of 2013, all earned and unpaid management fees were paid in full. 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 third quarter of 2013. As a result, there were no management fees receivable and other as of December 29, 2013.