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COMMITMENTS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES. |
COMMITMENTS AND CONTINGENCIES. | 9. COMMITMENTS AND CONTINGENCIES Litigation The Company is party to a number of pending legal proceedings related to matters that occurred in the normal course of business. Management does not expect that the outcome of any such proceedings, either individually or in the aggregate, will have a material effect on our financial position, results of operations and cash flows. Contingent Gaming License Fees in Illinois As required for its gaming licensure at American Place, the Company may be required to make a “Reconciliation Payment” to the State of Illinois. The Reconciliation Payment is calculated three years after the commencement of gaming operations in Illinois in an amount equal to 75% of the adjusted gross receipts for the most lucrative trailing 12-month period of operations, offset by certain licensing fees already paid by the Company in the first quarter of 2023 (the “Position Fee”). The Reconciliation Payment is due in annual installments over a period of six years, beginning in the fourth year of gaming operations. ​ As of December 31, 2023, management accrued for a long-term obligation, discounted at $14.9 million (with a corresponding increase to the Illinois gaming license valuation), in order to reflect performance of gaming operations at American Place during the year, net of $35.0 million that the Company paid in Position Fees. ​ Defined Contribution Plan The Company sponsors a defined contribution plan for all eligible employees providing voluntary contributions by eligible employees and matching contributions made by the Company. Matching contributions made by the Company were $0.3 million for 2023, and $0.2 million for 2022, excluding nominal administrative expenses. For both years, the Company’s employer matching contribution rate was at 50% and up to 4% of eligible compensation. ​ Liquidity, Concentrations and Economic Risks and Uncertainties The Company carries cash on deposit with financial institutions that may be in excess of federally-insured limits. The extent of any loss that might be incurred as a result of uninsured deposits in the event of a future failure of a bank or other financial institution, if any, is not subject to estimation at this time.

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