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Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2014
Long-Term Debt [Abstract]  
Schedule of Long-term Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

Amounts in thousands

 

2014

 

2013

Credit agreement - Bank of Montreal

 

$
13,825 

 

$
9,277 

Credit agreement - Casinos Poland

 

 
4,043 

 

 
4,798 

Credit facility - Casinos Poland

 

 
3,215 

 

 
1,447 

Capital leases - Casinos Poland

 

 
138 

 

 
207 

Financing obligation - CDR land lease*

 

 
17,395 

 

 
18,330 

Total long-term debt

 

$
38,616 

 

$
34,059 

Less current portion

 

 
(6,490)

 

 
(4,195)

Long-term portion

 

$
32,126 

 

$
29,864 

 

 

 

 

 

 

 

 

*The financing obligation represents the land lease with CDR. Prior to the Company’s acquisition, CDR purchased various plots of land on which the REC project will be constructed. CDR sold a portion of the land consisting of 71.99 acres to Rosebridge and leased back 51.99 acres of the land. The Company began accounting for the lease using the financing method as of the date of the CDR acquisition. Under the financing method, the Company accounts for the land subject to lease as an asset and the lease payments as interest on the financing obligation. Under the land lease, CDR has four options to purchase the land. The first option date is July 1, 2023.

Schedule of Maturities of Long-term Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts in thousands

 

Bank of Montreal

 

Casinos Poland

2014

 

$
389 

 

$
3,599 

2015

 

 
1,556 

 

 
1,809 

2016

 

 
1,556 

 

 
1,716 

2017

 

 
1,556 

 

 
272 

2018

 

 
1,556 

 

 
0 

Thereafter

 

 
7,212 

 

 
0 

Total

 

$
13,825 

 

$
7,396