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Subsequent Events
3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events



12.SUBSEQUENT EVENTS



Vietnam

On April 25, 2018, the Company announced that its subsidiary, CRM, entered into a Shareholder’s Agreement with Golden Hospitality Ltd. (“Golden”) and its shareholders to purchase 51% of the outstanding shares of Golden for a total consideration of $0.6 million. In addition, Golden signed a Charter Capital Transfer Agreement (the “Charter Agreement”) with Minh Chau Limited Liability Company (“Minh Chau”) and its shareholders to purchase 6.36% of the outstanding shares of Minh Chau for a total consideration of $0.4 million. The Charter Agreement provides additional options to purchase up to 51% of the outstanding shares of Minh Chau over a three year period.



Minh Chau is the owner of a small hotel and international entertainment and gaming club in the Cao Bang province of Vietnam that is 300 feet from the Vietnamese – Chinese border station. The hotel offers 30 low-standard rooms and the international entertainment and gaming club currently offers seven electronic table games for non-Vietnamese passport holders under a provincial investment certificate that allows for up to 26 electronic table games. Golden has signed a management agreement with Minh Chau in which Golden will manage the operations at the hotel and international entertainment and gaming club and receive a portion of Minh Chau’s net profit. Golden’s intent is to upgrade and expand the hotel and international entertainment and gaming club.



Bank of Montreal

On May 4, 2018, the Company was approved to increase the borrowing capacity on its BMO Credit Agreement by CAD 35.0 million ($27.1 million based on the exchange rate in effect on March 31, 2018) for construction of the Century Mile project. The Company expects the amended BMO Credit Agreement to be finalized in the second quarter of 2018.