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Gain on Contractual Debt Reduction | 12 Months Ended
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Sep. 30, 2015
Contractual Debt Reduction [Abstract] |
Contractual Debt Reduction [Text Block] |
| P. | Gain on Contractual Debt Reduction
The Club Note from the Jaguars acquisition (see Note M, Acquisitions) also provides that in the event any regulatory or administrative authority seeks to enforce or attempts to collect any tax or obligation or liability that may be due pursuant to the Texas Patron Tax (sometimes referred to as the “Pole Tax”) or related legislation, then the then outstanding principal amount of the Club Note, as of the date the tax is enforced, will immediately be reduced by an amount calculated by multiplying 1,200,000 by the dollar amount of the per-person tax implemented (the “Reduction Amount”). The Reduction Amount cannot exceed $6,000,000. By way of example, if exactly two years after closing, a $2.00 per person tax is implemented and enforced, the Reduction Amount would be $ 2,400,000 and the then principal amount of the Club Note would be reduced $2,400,000. The Texas Patron Tax is currently enacted to be $5 per person which equates to a $6,000,000 Reduction Amount. The State of Texas has demanded payment (See Note J) and this provision was invoked in July 2014 and the Company recorded a gain of $6 million, less related debt discount.

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- Definition The entire disclosure for contractual debt reduction. + References No definition available. + Details
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