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SEGMENT REPORTING | 6 Months Ended
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Jun. 30, 2012
Segment Reporting [Abstract] |
SEGMENT REPORTING | 9. SEGMENT REPORTING The following tables reflect selected information for our reporting segments for the three and six months ended June 30, 2012 and 2011. The casino operation segments include the Rising Star’s operation in Rising Sun, Indiana, the Grand Lodge Casino operation in Lake Tahoe, Nevada and Stockman’s Casino operation in Fallon, Nevada. We have included regional information for segment reporting and aggregated casino operations in the same region. The development/management segment includes costs associated with casino development and management projects, including the management agreement with the Pueblo of Pojoaque to advise on the operations of the Buffalo Thunder Casino and Resort in Santa Fe, New Mexico, and the Michigan and Delaware joint ventures. The Corporate segment includes our general and administrative expenses. Selected statement of operations data for the three months ended June 30:
|  |  |  |  | Casino |  |  |  |  |  |  |  |  |  |
|  | Casino Operations |  |  | Operations |  |  | Development/ |  |  |  |  |  |  |
|  | Nevada |  |  | Mid-west |  |  | Management |  |  | Corporate |  |  | Consolidated |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 5,179,224 |  |  | $ | 22,261,377 |  |  | $ | 399,898 |  |  | $ | -- |  |  | $ | 27,840,499 |
Selling, general and administrative expense |  |  | 1,569,599 |  |  |  | 4,644,795 |  |  |  | -- |  |  |  | 1,497,985 |  |  |  | 7,712,379 |
Depreciation and amortization |  |  | 246,693 |  |  |  | 1,273,862 |  |  |  | -- |  |  |  | 2,015 |  |  |  | 1,522,570 |
Operating gains |  |  | -- |  |  |  | -- |  |  |  | 438,084 |  |  |  | -- |  |  |  | 438,084 |
Operating income (loss) |  |  | 722,701 |  |  |  | 1,536,388 |  |  |  | 748,564 |  |  |  | (1,584,474 | ) |  |  | 1,423,179 |
Net income (loss) attributable to Company |  |  | 475,649 |  |  |  | 1,450,433 |  |  |  | (150,200 | ) |  |  | (1,043,403 | ) |  |  | 732,479 |
|  |  |  |  |  | Casino |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Casino Operations |  |  | Operations |  |  | Development/ |  |  |  |  |  |  |  |  |
|  | Nevada |  |  | Mid-west |  |  | Management |  |  | Corporate |  |  | Consolidated |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,021,239 |  |  | $ | 23,190,637 |  |  | $ | 5,912,294 |  |  | $ | -- |  |  | $ | 31,124,170 |
Selling, general and administrative expense |  |  | 484,098 |  |  |  | 5,203,444 |  |  |  | 130,958 |  |  |  | 1,170,950 |  |  |  | 6,989,450 |
Depreciation and amortization |  |  | 236,135 |  |  |  | 1,220,183 |  |  |  | 593,147 |  |  |  | 2,676 |  |  |  | 2,052,141 |
Operating gains |  |  | -- |  |  |  | -- |  |  |  | 661,270 |  |  |  | -- |  |  |  | 661,270 |
Operating income (loss) |  |  | 255,590 |  |  |  | 1,984,787 |  |  |  | 5,849,459 |  |  |  | (1,259,685 | ) |  |  | 6,830,151 |
Net income (loss) attributable to Company |  |  | 168,773 |  |  |  | 470,033 |  |  |  | 2,426,110 |  |  |  | (1,668,396 | ) |  |  | 1,396,520 |
Selected statement of operations data for the six months ended June 30:
|  |  |  |  |  | Casino |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Casino Operations |  |  | Operations |  |  | Development/ |  |  |  |  |  |  |  |  |
|  | Nevada |  |  | Mid-west |  |  | Management |  |  | Corporate |  |  | Consolidated |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 10,065,477 |  |  | $ | 44,891,594 |  |  | $ | 6,209,768 |  |  | $ | -- |  |  | $ | 61,166,839 |
Selling, general and administrative expense |  |  | 3,137,142 |  |  |  | 9,661,805 |  |  |  | 136,386 |  |  |  | 3,337,674 |  |  |  | 16,273,007 |
Depreciation and amortization |  |  | 488,384 |  |  |  | 2,302,028 |  |  |  | 593,052 |  |  |  | 4,401 |  |  |  | 3,387,865 |
Operating gains |  |  | -- |  |  |  | -- |  |  |  | 41,200,089 |  |  |  | -- |  |  |  | 41,200,089 |
Operating income (loss) |  |  | 1,080,587 |  |  |  | 3,598,691 |  |  |  | 46,559,835 |  |  |  | (3,492,433 | ) |  |  | 47,746,680 |
Net income (loss) attributable to Company |  |  | 709,285 |  |  |  | 412,459 |  |  |  | 29,958,606 |  |  |  | (4,499,538 | ) |  |  | 26,580,812 |
|  |  |  |  |  | Casino |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Casino Operations |  |  | Operations |  |  | Development/ |  |  |  |  |  |  |  |  |
|  | Nevada |  |  | Mid-west |  |  | Management |  |  | Corporate |  |  | Consolidated |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 4,001,078 |  |  | $ | 23,190,637 |  |  | $ | 12,276,681 |  |  | $ | -- |  |  | $ | 39,468,396 |
Selling, general and administrative expense |  |  | 946,062 |  |  |  | 5,203,444 |  |  |  | 283,197 |  |  |  | 2,210,455 |  |  |  | 8,643,158 |
Depreciation and amortization |  |  | 474,950 |  |  |  | 1,220,183 |  |  |  | 1,186,343 |  |  |  | 22,409 |  |  |  | 2,903,885 |
Operating gains |  |  | -- |  |  |  | -- |  |  |  | 2,181,167 |  |  |  | -- |  |  |  | 2,181,167 |
Operating income (loss) |  |  | 539,421 |  |  |  | 1,984,787 |  |  |  | 12,988,307 |  |  |  | (2,850,731 | ) |  |  | 12,661,784 |
Net income (loss) attributable to Company |  |  | 356,184 |  |  |  | 470,033 |  |  |  | 5,035,078 |  |  |  | (2,857,331 | ) |  |  | 3,003,964 |
Selected balance sheet data as of June 30, 2012 and December 31, 2011:
|  | Casino Operations Nevada |  |  | Casino Operations Mid-west |  |  | Development/ Management |  |  | Corporate |  |  | Consolidated |
2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 17,229,790 |  |  | $ | 54,907,011 |  |  | $ | 4,896 |  |  | $ | 23,506,554 |  |  | $ | 95,648,251 |
Property and equipment, net |  |  | 7,113,172 |  |  |  | 30,394,284 |  |  |  | -- |  |  |  | 18,339 |  |  |  | 37,525,795 |
Goodwill |  |  | 5,808,520 |  |  |  | 1,647,198 |  |  |  | -- |  |  |  | -- |  |  |  | 7,455,718 |
Liabilities |  |  | 2,270,447 |  |  |  | 7,994,324 |  |  |  |  |  |  |  | 6,125,001 |  |  |  | 16,389,772 |
|  | Casino Operations Nevada |  |  | Casino Operations Mid-west |  |  | Development/ Management |  |  | Corporate |  |  | Consolidated |
2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 18,488,888 |  |  | $ | 54,923,492 |  |  | $ | 13,192,504 |  |  | $ | 8,013,057 |  |  | $ | 94,617,941 |
Property and equipment, net |  |  | 7,350,840 |  |  |  | 31,296,224 |  |  |  | -- |  |  |  | 21,219 |  |  |  | 38,668,283 |
Goodwill |  |  | 5,808,520 |  |  |  | 1,647,198 |  |  |  | -- |  |  |  | -- |  |  |  | 7,455,718 |
Liabilities |  |  | 4,604,218 |  |  |  | 9,649,198 |  |  |  | 102,709 |  |  |  | 24,816,772 |  |  |  | 39,172,897 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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