Annual report pursuant to Section 13 and 15(d)

CONTRACT RIGHTS

v2.4.0.6
CONTRACT RIGHTS
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
CONTRACT RIGHTS
5. CONTRACT RIGHTS
 
Contract rights were comprised of the following as of December 31, 2012 and December 31, 2011 (in thousands):
 
 
2012 
  
Cost
    
Accumulated
Amortization
    
Disposal
    
Net
  
FireKeepers project, initial cost
   $ 4,155     $ (1,583 )   $ (2,572 )   $ --  
FireKeepers project, additional
     13,210       (5,503 )     (7,707 )     --  
    $ 17,365     $ (7,086 )   $ (10,279 )   $ --  
 
 
2011 
  
Cost
    
Accumulated
amortization
    
Disposal
    
Net
  
FireKeepers project, initial cost
   $ 4,155     $ (1,434 )   $ --     $ 2,721  
FireKeepers project, additional
     13,210       (5,058 )     --       8,152  
    $ 17,365     $ (6,492 )   $ --     $ 10,873  
 
Amortization over the management contract period (seven years) commenced on the additional contract rights at the opening date of the FireKeepers Casino on August 5, 2009. Of the remaining contract rights, $7.5 million were sold with our interest in GEM, to the FDA on March 30, 2012, and the remaining $2.8 million were expensed.