| SEGMENT REPORTING |
9. SEGMENT REPORTING
The following tables reflect selected information for our reporting segments for the three and six months ended June 30, 2012 and 2011. The casino operation segments include the Rising Star’s operation in Rising Sun, Indiana, the Grand Lodge Casino operation in Lake Tahoe, Nevada and Stockman’s Casino operation in Fallon, Nevada. We have included regional information for segment reporting and aggregated casino operations in the same region. The development/management segment includes costs associated with casino development and management projects, including the management agreement with the Pueblo of Pojoaque to advise on the operations of the Buffalo Thunder Casino and Resort in Santa Fe, New Mexico, and the Michigan and Delaware joint ventures. The Corporate segment includes our general and administrative expenses.
Selected statement of operations data for the three months ended June 30:
| |
|
|
|
|
Casino
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
Operations
|
|
|
Development/
|
|
|
|
|
|
|
|
| |
|
Nevada
|
|
|
Mid-west
|
|
|
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
5,179,224 |
|
|
$ |
22,261,377 |
|
|
$ |
399,898 |
|
|
$ |
-- |
|
|
$ |
27,840,499 |
|
|
Selling, general and administrative expense
|
|
|
1,569,599 |
|
|
|
4,644,795 |
|
|
|
-- |
|
|
|
1,497,985 |
|
|
|
7,712,379 |
|
|
Depreciation and amortization
|
|
|
246,693 |
|
|
|
1,273,862 |
|
|
|
-- |
|
|
|
2,015 |
|
|
|
1,522,570 |
|
|
Operating gains
|
|
|
-- |
|
|
|
-- |
|
|
|
438,084 |
|
|
|
-- |
|
|
|
438,084 |
|
|
Operating income (loss)
|
|
|
722,701 |
|
|
|
1,536,388 |
|
|
|
748,564 |
|
|
|
(1,584,474 |
) |
|
|
1,423,179 |
|
|
Net income (loss) attributable to Company
|
|
|
475,649 |
|
|
|
1,450,433 |
|
|
|
(150,200 |
) |
|
|
(1,043,403 |
) |
|
|
732,479 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Casino
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
Operations
|
|
|
Development/
|
|
|
|
|
|
|
|
|
|
| |
|
Nevada
|
|
|
Mid-west
|
|
|
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
2,021,239 |
|
|
$ |
23,190,637 |
|
|
$ |
5,912,294 |
|
|
$ |
-- |
|
|
$ |
31,124,170 |
|
|
Selling, general and administrative expense
|
|
|
484,098 |
|
|
|
5,203,444 |
|
|
|
130,958 |
|
|
|
1,170,950 |
|
|
|
6,989,450 |
|
|
Depreciation and amortization
|
|
|
236,135 |
|
|
|
1,220,183 |
|
|
|
593,147 |
|
|
|
2,676 |
|
|
|
2,052,141 |
|
|
Operating gains
|
|
|
-- |
|
|
|
-- |
|
|
|
661,270 |
|
|
|
-- |
|
|
|
661,270 |
|
|
Operating income (loss)
|
|
|
255,590 |
|
|
|
1,984,787 |
|
|
|
5,849,459 |
|
|
|
(1,259,685 |
) |
|
|
6,830,151 |
|
|
Net income (loss) attributable to Company
|
|
|
168,773 |
|
|
|
470,033 |
|
|
|
2,426,110 |
|
|
|
(1,668,396 |
) |
|
|
1,396,520 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected statement of operations data for the six months ended June 30:
| |
|
|
|
|
|
Casino
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
Operations
|
|
|
Development/
|
|
|
|
|
|
|
|
|
|
| |
|
Nevada
|
|
|
Mid-west
|
|
|
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
10,065,477 |
|
|
$ |
44,891,594 |
|
|
$ |
6,209,768 |
|
|
$ |
-- |
|
|
$ |
61,166,839 |
|
|
Selling, general and administrative expense
|
|
|
3,137,142 |
|
|
|
9,661,805 |
|
|
|
136,386 |
|
|
|
3,337,674 |
|
|
|
16,273,007 |
|
|
Depreciation and amortization
|
|
|
488,384 |
|
|
|
2,302,028 |
|
|
|
593,052 |
|
|
|
4,401 |
|
|
|
3,387,865 |
|
|
Operating gains
|
|
|
-- |
|
|
|
-- |
|
|
|
41,200,089 |
|
|
|
-- |
|
|
|
41,200,089 |
|
|
Operating income (loss)
|
|
|
1,080,587 |
|
|
|
3,598,691 |
|
|
|
46,559,835 |
|
|
|
(3,492,433 |
) |
|
|
47,746,680 |
|
|
Net income (loss) attributable to Company
|
|
|
709,285 |
|
|
|
412,459 |
|
|
|
29,958,606 |
|
|
|
(4,499,538 |
) |
|
|
26,580,812 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Casino
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
Operations
|
|
|
Development/
|
|
|
|
|
|
|
|
|
|
| |
|
Nevada
|
|
|
Mid-west
|
|
|
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
4,001,078 |
|
|
$ |
23,190,637 |
|
|
$ |
12,276,681 |
|
|
$ |
-- |
|
|
$ |
39,468,396 |
|
|
Selling, general and administrative expense
|
|
|
946,062 |
|
|
|
5,203,444 |
|
|
|
283,197 |
|
|
|
2,210,455 |
|
|
|
8,643,158 |
|
|
Depreciation and amortization
|
|
|
474,950 |
|
|
|
1,220,183 |
|
|
|
1,186,343 |
|
|
|
22,409 |
|
|
|
2,903,885 |
|
|
Operating gains
|
|
|
-- |
|
|
|
-- |
|
|
|
2,181,167 |
|
|
|
-- |
|
|
|
2,181,167 |
|
|
Operating income (loss)
|
|
|
539,421 |
|
|
|
1,984,787 |
|
|
|
12,988,307 |
|
|
|
(2,850,731 |
) |
|
|
12,661,784 |
|
|
Net income (loss) attributable to Company
|
|
|
356,184 |
|
|
|
470,033 |
|
|
|
5,035,078 |
|
|
|
(2,857,331 |
) |
|
|
3,003,964 |
|
Selected balance sheet data as of June 30, 2012 and December 31, 2011:
| |
|
Casino Operations
Nevada
|
|
|
Casino
Operations
Mid-west
|
|
|
Development/ Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
17,229,790 |
|
|
$ |
54,907,011 |
|
|
$ |
4,896 |
|
|
$ |
23,506,554 |
|
|
$ |
95,648,251 |
|
|
Property and equipment, net
|
|
|
7,113,172 |
|
|
|
30,394,284 |
|
|
|
-- |
|
|
|
18,339 |
|
|
|
37,525,795 |
|
|
Goodwill
|
|
|
5,808,520 |
|
|
|
1,647,198 |
|
|
|
-- |
|
|
|
-- |
|
|
|
7,455,718 |
|
|
Liabilities
|
|
|
2,270,447 |
|
|
|
7,994,324 |
|
|
|
|
|
|
|
6,125,001 |
|
|
|
16,389,772 |
|
| |
|
Casino Operations
Nevada
|
|
|
Casino
Operations
Mid-west
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
18,488,888 |
|
|
$ |
54,923,492 |
|
|
$ |
13,192,504 |
|
|
$ |
8,013,057 |
|
|
$ |
94,617,941 |
|
|
Property and equipment, net
|
|
|
7,350,840 |
|
|
|
31,296,224 |
|
|
|
-- |
|
|
|
21,219 |
|
|
|
38,668,283 |
|
|
Goodwill
|
|
|
5,808,520 |
|
|
|
1,647,198 |
|
|
|
-- |
|
|
|
-- |
|
|
|
7,455,718 |
|
|
Liabilities
|
|
|
4,604,218 |
|
|
|
9,649,198 |
|
|
|
102,709 |
|
|
|
24,816,772 |
|
|
|
39,172,897 |
|
|