Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues        
Casino $ 25,352,136 $ 23,212,583 $ 51,067,608 $ 24,753,635
Food and beverage 1,414,983 1,373,777 2,741,811 1,786,360
Hotel 135,387 207,173 250,896 207,173
Management fees 399,899 5,912,434 6,209,768 12,276,676
Other operations 538,094 418,203 896,756 444,552
Total revenues 27,840,499 31,124,170 61,166,839 39,468,396
Operating costs and expenses        
Casino 14,551,368 13,011,458 29,322,095 13,533,914
Food and beverage 1,409,446 1,366,867 2,584,469 1,839,641
Hotel 148,490 180,707 292,924 180,707
Other operations 1,337,261 1,268,607 2,488,949 1,268,607
Project development and acquisition costs 173,890 86,059 270,939 617,867
Selling, general and administrative 7,712,379 6,989,450 16,273,007 8,643,158
Depreciation and amortization 1,522,570 2,052,141 3,387,865 2,903,885
Total operating costs and expenses 26,855,404 24,955,289 54,620,248 28,987,779
Operating gains        
Gain on sale of joint venture 438,084    41,200,089   
Equity in net income of unconsolidated joint venture, and related guaranteed payments    693,709    2,189,031
Unrealized losses on notes receivable, tribal governments    (32,439)    (7,864)
Total operating gains 438,084 661,270 41,200,089 2,181,167
Operating income 1,423,179 6,830,151 47,746,680 12,661,784
Other income (expense)        
Interest expense    (917,844) (733,150) (1,128,478)
Gain (loss) on derivative instrument    (350,343) 8,472 (350,343)
Other income (expense), net 1,900 (1,889) 5,665 (1,502)
Loss on extinguishment of debt       (1,719,269)   
Other income (expense), net 1,900 (1,270,076) (2,438,282) (1,480,323)
Income before income taxes 1,425,079 5,560,075 45,308,398 11,181,461
Income tax expense 692,600 1,457,134 16,546,414 2,863,997
Net income 732,479 4,102,941 28,761,984 8,317,464
Income attributable to non-controlling interest in consolidated joint venture    (2,706,421) (2,181,172) (5,313,500)
Net income attributable to the Company $ 732,479 $ 1,396,520 $ 26,580,812 $ 3,003,964
Net income attributable to the Company per common share (in dollars per share) $ 0.04 $ 0.08 $ 1.42 $ 0.17
Weighted-average number of common shares outstanding (in shares) 18,677,081 18,223,081 18,675,372 18,115,381