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Note 6 - Cost Method Investments | 9 Months Ended
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Sep. 30, 2015
Notes to Financial Statements |
Cost-method Investments, Description [Text Block] | 6. Cost Method Investments Rock Ohio Ventures , LLC As of December 28, 2014, the Company had a 10% ownership interest in Rock Ohio Ventures, LLC (“Rock Ohio Ventures”). This investment was accounted for using the cost method since the Company owned less than 20% of Rock Ohio Ventures and did not have the ability to significantly influence the operating and financial decisions of the entity. The Company invested a total of $21.0 million in Rock Ohio Ventures. This investment was determined to have experienced an other-than-temporary impairment and was reduced to its estimated fair value of zero during the third quarter of 2014. As a result, the Company recognized an impairment loss of $21.0 million during the third quarter of 2014. Effective January 25, 2015, the Company sold all of its interest in Rock Ohio Ventures to DG Ohio Ventures, LLC for approximately $0.8 million. Because this investment had been written down to zero, the Company recognized a gain on sale of cost method investment of approximately $0.8 million during the first quarter of 2015. The fair value of the Company’s cost method investment in Rock Ohio Ventures was estimated to be approximately $0.8 million as of December 28, 2014 based on the January 2015 selling price of this investment. See Note 13, Financial Instruments and Fair Value Measurements , for further discussion of the calculation of the fair value of the investment in Rock Ohio Ventures as of December 28, 2014. Dania Entertainment Holdings, LLC On May 22, 2013, Dania Entertainment Center, LLC (“DEC”) purchased the Dania Jai Alai property located in Dania Beach, Florida, from Boyd Gaming Corporation, for $65.5 million. As part of a previous plan to purchase the property, during 2011 the Company loaned $4.0 million to DEC (the “Loan”) which was written down to zero during the third quarter of 2011 when the acquisition did not close. During 2013, the Loan was exchanged for a 20% ownership interest in Dania Entertainment Holdings, LLC (“DEH”). The Company accounted for its investment in DEH as a cost method investment. At the time the Loan was exchanged for an equity investment in DEH, the Company determined its value remained at zero due to the negative cash flows of the existing operations of the Dania Jai Alai property as well as uncertainty surrounding completion of the project. Therefore, there was no value recorded for this investment at the time the Loan was exchanged for an equity investment in DEH. On April 21, 2014, the Company entered into a redemption agreement with DEH that resulted in DEH redeeming the Company’s 20% ownership in DEH in exchange for DEH granting to the Company a 5% ownership interest in DEC. Concurrently, the Company entered into an agreement with ONDISS Corp. (“ONDISS”) to sell its ownership interest in DEC for approximately $2.6 million. The Company received $1.0 million on April 21, 2014 in exchange for 40% of its ownership interest. On October 17, 2014, ONDISS paid the entire remaining amount due to the Company at a discounted amount of approximately $1.4 million. Upon receipt of such payment, the Company transferred its remaining ownership in DEC to ONDISS. As a result, the Company recognized a gain on sale of cost method investment of $2.4 million during the year ended December 28, 2014.

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- Definition The entire disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the entity does not have the ability to exercise significant influence. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596 + Details
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