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COMMITMENTS & CONTINGENCIES (Detail Textuals) (USD $)
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1 Months Ended | 0 Months Ended | ||
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Aug. 26, 2013
Construction Agreement
Term Loan
Silver Slipper
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Sep. 30, 2013
Construction Agreement
Term Loan
Silver Slipper
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Aug. 26, 2013
First Lien Credit Agreement
Term Loan
Silver Slipper
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Aug. 16, 2013
Lease/purchase agreement
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| Registration Payment Arrangement [Line Items] | ||||
| Aggregate construction cost | $ 17,700,000 | |||
| Credit facility undrawn and available to fund portion of construction of Silver Slipper property | 10,000,000 | |||
| Remaining construction cost to be funded from available cash | 7,700,000 | |||
| Term of agreement | 10 years | |||
| Description of condition of agreement | The term of the Rising Star Hotel Agreement is for 10 years from the date the Rising Star Hotel is first open to the public (subject to certain early termination rights of the parties under the Rising Star Hotel Agreement) with the Landlord having a right to sell the Rising Star Hotel to us at the end of the term and our corresponding obligation to purchase it on the terms set forth in the Rising Star Hotel Agreement. During the term, we will have the exclusive option to purchase the Rising Star Hotel at a pre-set price. Beginning on January 1, 2014, we will pay a fixed monthly rent payment of approximately $83,000 during the term of the Rising Star Hotel Agreement unless we elect to purchase the hotel before the end of the lease period. | |||
| Monthly rent payment | 83,000 | |||
| Construction cost funded | $ 400,000 |