XML 71 R21.htm IDEA: XBRL DOCUMENT v3.3.0.814
Note 16 - Related Party Transactions
 9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
16. Related Party Transactions
 
The Company leases its office headquarters building and one tavern location from a company 33% owned by Blake L. Sartini and leases three of its tavern locations from companies owned or controlled by Mr. Sartini or by a trust for the benefit of Mr. Sartini’s immediate family members for which Mr. Sartini serves as trustee. The lease for the Company’s office headquarters building expires July 31, 2025, and the leases for the tavern locations have remaining terms ranging from two to ten years. Additionally, a portion of the office headquarters building is sublet to companies owned or controlled by Mr. Sartini. Rent expense during each of the three and nine months ended September 30, 2015 was $0.2 million for the office headquarters building and $0.2 million for the tavern locations. Rental income during each of the three and nine months ended September 30, 2015 for the sublet portion of the office headquarters building was less than $0.1 million. Amounts payable under the leases for the tavern locations that were included in accounts payable as of September 30, 2015 were less than $0.1 million. No amounts were owed or due as of September 30, 2015 under the lease or sublet of the office headquarters building. Mr. Sartini serves as the Chairman of the Board, President and Chief Executive Officer of the Company and is co-trustee of the Sartini Trust
, which is a significant shareholder of the Company. All of the lease agreements were in place prior to the consummation of the Merger
.
 
Three of the more than 670 distributed gaming locations in Nevada at which the Company’s gaming devices are located are owned in part by the spouse of Matthew W. Flandermeyer, who serves as Executive Vice President and Chief Financial Officer of the Company. Net revenues and gaming expenses recorded by the Company from the use of the Company’s gaming devices at these three locations were $0.23 million and $0.20 million, respectively, during each of the three and nine months ended September 30, 2015.  The gaming expenses recorded by the Company represent amounts retained by the counterparty (with respect to the two locations that are subject to participation agreements) or paid to the counterparty (with respect to the location that is subject to a revenue share agreement) from the operation of the gaming devices.  No amounts were owed related to these arrangements as of September 30, 2015. All of the agreements were in place prior to the consummation of the Merger
.