Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:    
Net income attributable to the Company $ 27,834 $ 2,343
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in net income of unconsolidated investee   (1,754)
Distributions from unconsolidated investee   1,946
Non-controlling interest in consolidated joint venture 2,181 10,247
Gain on sale of joint venture (41,189)  
Depreciation 5,270 4,205
Amortization of gaming and other rights 593 2,372
Nambe notes receivable impairment loss adjustment   420
Stockman's goodwill impairment loss adjustment   4,500
Loss on derivative   513
Amortization of loan fees 2,395 838
Amortization of player loyalty program, land lease and water rights 1,021 425
Other 90 57
Deferred and share-based compensation 1,259 748
Increases and decreases in operating assets and liabilities:    
Accounts receivable, net 2,840 (702)
Prepaid expenses (1,460) (785)
Deferred tax (1,724) (1,295)
Other assets (442) 52
Accounts payable and accrued expenses (567) 2,962
Income taxes payable (2,402) 2,025
Deferred tax liability   (2,110)
Net cash (used in) provided by operating activities (4,301) 27,007
Cash flows from investing activities:    
Proceeds from sale of joint venture 49,658  
Purchase of property and equipment (2,986) (3,234)
Proceeds from sale of assets 96 10
Silver Slipper deposits and other capitalized acquisition costs (1,286)  
Rising Star deposits and other capitalized acquisition costs    (19,514)
Grand Lodge acquisition    75
Trademark (7) (17)
Other (204) (45)
Net cash provided by (used in) investing activities 45,271 (22,725)
Cash flows from financing activities:    
Repayment of long-term debt (28,187) (6,600)
Distributions to non-controlling interest in consolidated joint venture (3,323) (10,688)
Proceeds from borrowings   15,104
Loan fees (3,564) (649)
Deferred offering costs   (36)
Net cash used in financing activities (35,074) (2,869)
Net increase in cash and equivalents 5,896 1,413
Cash and equivalents, beginning of year 14,707 13,294
Cash and equivalents, end of year 20,603 14,707
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 1,877 2,010
Cash paid for income taxes 21,876 4,706
Purchases of property and equipment financed with prior year deposit   5,000
Borrowings paid directly to sellers and vendors at closing $ 70,000