Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets    
Cash and equivalents $ 14,707,464 $ 13,294,496
Accounts receivable, net of allowance for doubtful accounts of $1,158,013 and $0 4,865,195 2,276,422
Incomes taxes receivable 0 598,886
Prepaid expenses 2,486,975 796,858
Deferred tax asset 750,580 101,417
Deposits and other 404,171 106,810
Total current assets 23,214,385 17,174,889
Property and equipment, net of accumulated depreciation 38,668,283 7,372,251
Long-term assets related to tribal casino projects    
Notes receivable, net of allowance of $661,600 and $0 0 427,567
Contract rights, net of accumulated amortization of $6,492,981 and $4,120,775 10,872,605 13,244,811
Total long-term assets related to tribal casino project 10,872,605 13,672,378
Other assets    
Goodwill 7,455,718 10,308,520
Intangible assets, net of accumulated amortization of $425,000 and $0 11,720,727 476,050
Long term deposits 142,114 5,166,112
Loan fees, net of accumulated amortization of $934,491 and $96,087 1,898,492 2,088,104
Deferred tax asset 645,617 0
Other assets 0 192,482
Total other long-term assets 21,862,668 18,231,268
Total assets 94,617,941 56,450,786
Current liabilities    
Accounts payable 1,613,819 181,604
Income taxes payable 2,409,612 384,333
Accrued player club points and progressive jackpots 1,750,981 40,506
Accrued payroll and related 4,033,866 750,346
Other accrued expenses 2,427,197 188,817
Current portion of long-term debt 4,950,000 0
Total current liabilities 17,185,475 1,545,606
Long-term debt, net of current portion 21,987,422 0
Deferred tax liability 0 2,110,333
Total liabilities 39,172,897 3,655,939
Stockholders' equity    
Common stock, $.0001 par value, 25,000,000 shares authorized; 20,030,276 and 19,364,276 shares issued 2,003 1,936
Additional paid-in capital 43,447,798 42,699,533
Treasury stock, 1,356,595 common shares (1,654,075) (1,654,075)
Retained earnings 8,507,926 6,164,927
Total stockholders' equity 50,303,652 47,212,321
Noncontrolling interest in consolidated joint venture 5,141,392 5,582,526
Total equity 55,445,044 52,794,847
Total liabilities and stockholders' equity $ 94,617,941 $ 56,450,786