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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL & INTANGIBLES | GOODWILL AND INTANGIBLES Goodwill represents the excess of the purchase price over fair value of net tangible and other intangible assets acquired in connection with Silver Slipper Casino & Hotel, Rising Star Casino Resort and Stockman’s Casino business combinations, net of subsequent impairments as summarized below. There were no impairments to goodwill for the year ended December 31, 2015. During 2014, we performed interim impairment assessments of goodwill and other indefinite-lived intangible assets during the second quarter for all relevant properties and recognized a $1.6 million and $9.9 million impairment of Rising Star Casino Resort’s goodwill and gaming license, respectively, due to various factors, including declines in operating results, weak economic conditions, lower than anticipated discretionary consumer spending, and increased competition in our regional market. We evaluated the fair value of these assets using the income (discounted cash flow) approach which use Level 3 inputs as defined by GAAP. Key assumptions included in the analysis were estimates of future cash flows including outflows for capital expenditures, a long-term growth rate of 1% and a discount rate of 11.2%. Goodwill: The following tables set forth changes in the carrying value of goodwill by segment:
| December 31, 2015 (in thousands)
| Gross Carrying Value |  | Accumulated Impairments |  | Balance at end of the year
Northern Nevada | $ | 5,809 |  |  | $ | (4,000 | ) |  | $ | 1,809 |
Rising Star Casino Resort | 1,647 |  |  | (1,647 | ) |  | — |
Silver Slipper Casino & Hotel | 14,671 |  |  | — |  |  | 14,671 |
Goodwill, net of accumulated impairment losses | $ | 22,127 |  |  | $ | (5,647 | ) |  | $ | 16,480 |
| December 31, 2014 (in thousands)
| Gross Carrying Value |  | Accumulated Impairments |  | Balance at end of the year
Northern Nevada | $ | 5,809 |  |  | $ | (4,000 | ) |  | $ | 1,809 |
Rising Star Casino Resort | 1,647 |  |  | (1,647 | ) |  | — |
Silver Slipper Casino & Hotel | 14,671 |  |  | — |  |  | 14,671 |
Goodwill, net of accumulated impairment losses | $ | 22,127 |  |  | $ | (5,647 | ) |  | $ | 16,480 |
Intangible Assets: The following tables set forth changes in the carrying value of intangible assets:
| December 31, 2015 (in thousands)
| Estimated Life (Years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Accumulated Impairments / Write-offs, Net |  | Intangible Assets, Net
Amortizing Intangible Assets: |  |  |  |  |  |  |  |  |
Customer Loyalty Program - Rising Star | 3 |  | $ | 1,700 |  |  | $ | (1,700 | ) |  | $ | — |  |  | $ | — |
Customer Loyalty Program - Silver Slipper | 3 |  | 5,900 |  |  | (5,900 | ) |  | — |  |  | — |
Land Lease and Water Rights - Silver Slipper | 46 |  | 1,420 |  |  | (101 | ) |  | — |  |  | 1,319 |
Non-amortizing Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming License - Rising Star | Indefinite |  | 10,034 |  |  | — |  |  | (9,900 | ) |  | 134 |
Gaming License – Silver Slipper | Indefinite |  | 127 |  |  | — |  |  | — |  |  | 127 |
Gaming License – Northern Nevada | Indefinite |  | 384 |  |  | — |  |  | (104 | ) |  | 280 |
Gaming License - Colorado | Indefinite |  | 199 |  |  | — |  |  | — |  |  | 199 |
Trademarks | Indefinite |  | 68 |  |  | — |  |  | — |  |  | 68 |
|  |  | $ | 19,832 |  |  | $ | (7,701 | ) |  | $ | (10,004 | ) |  | $ | 2,127 |
| December 31, 2014 (in thousands)
| Estimated Life (Years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Accumulated Impairments/ Write-offs, Net |  | Intangible Assets, Net
Amortizing Intangible Assets: |  |  |  |  |  |  |  |  |
Customer Loyalty Program - Rising Star | 3 |  | $ | 1,700 |  |  | $ | (1,700 | ) |  | $ | — |  |  | $ | — |
Customer Loyalty Program - Silver Slipper | 3 |  | 5,900 |  |  | (4,425 | ) |  | — |  |  | 1,475 |
Land Lease and Water Rights - Silver Slipper | 46 |  | 1,420 |  |  | (70 | ) |  | — |  |  | 1,350 |
Non-amortizing Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming License - Rising Star | Indefinite |  | 9,900 |  |  | — |  |  | (9,900 | ) |  | — |
Gaming License – Silver Slipper | Indefinite |  | 105 |  |  | — |  |  | (44 | ) |  | 61 |
Gaming License – Northern Nevada | Indefinite |  | 523 |  |  | — |  |  | (67 | ) |  | 456 |
Trademarks | Indefinite |  | 40 |  |  | — |  |  | — |  |  | 40 |
|  |  | $ | 19,588 |  |  | $ | (6,195 | ) |  | $ | (10,011 | ) |  | $ | 3,382 |
Customer Loyalty Programs. The customer loyalty programs represent the value of repeat business associated with Silver Slipper Casino & Hotel’s and Rising Star Casino Resort’s loyalty programs. The value of $5.9 million and $1.7 million of the Silver Slipper Casino & Hotel’s and Rising Star Casino Resort’s customer loyalty programs, respectively, were determined using a multi-period excess earning method of the income approach, which examines the economic returns contributed by the identified tangible and intangible assets of a company, and then isolates the excess return, which is attributable to the asset being valued, based on cash flows attributable to the customer loyalty program. The valuation analyses for the active rated players were based on projected revenues and attrition rates. Silver Slipper Casino & Hotel and Rising Star Casino Resort maintain historical information for the proportion of revenues attributable to the rated players for gross gaming revenue. The value of the customer loyalty programs are amortized over a life of three years. Land Lease and Water Rights. In November 2004, our subsidiary, Silver Slipper Casino Venture, LLC, entered into a lease agreement with Cure Land Company, LLC for approximately 38 acres of land (“Land Lease”), which includes approximately 31 acres of protected marshland and the seven-acre casino parcel on which the Silver Slipper Casino was subsequently built. The $1 million Land Lease represents the excess fair value of the land over the estimated net present value of the Land Lease payments. The $0.4 million of water rights represented the fair value of the water rights based upon market rates in Hancock County, Mississippi. The term of the land lease matures in April 2058. Gaming Licenses. Gaming licenses represent the value of the license to conduct gaming in certain jurisdictions, which are subject to highly extensive regulatory oversight and, in some cases, a limitation on the number of licenses available for issuance. The value of the $9.9 million Rising Star Casino Resort gaming license was estimated using a multi-period excess earning method of the income approach, which examines the economic returns contributed by the identified tangible and intangible assets of a company, and then isolates the excess return, which is attributable to the asset being valued, based on cash flows attributable to the gaming license. The other gaming license values are based on actual costs. Gaming licenses are not amortized as they have indefinite useful lives and are evaluated for potential impairment on an annual basis unless events or changes in circumstances indicate the carrying amount of the gaming licenses may not be recoverable. We reviewed existing gaming licenses and recognized an expense of $0.1 million during 2015, and $10.2 million, including a $9.9 million impairment of the gaming license at Rising Star Casino Resort, during 2014. Current and Future Amortization. Intangible asset amortization expense was $1.5 million and $2.1 million for the years ended December 31, 2015 and December 31, 2014, respectively. Total amortization expense for intangible assets is expected to be $31,000 for each of the years ending 2016 through 2020 and $1.3 million thereafter.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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