Quarterly report pursuant to Section 13 or 15(d)

GOODWILL & OTHER INTANGIBLES (Tables)

v2.4.0.6
GOODWILL & OTHER INTANGIBLES (Tables)
6 Months Ended
Jun. 30, 2012
Contract Rights and Goodwill and Other Intangibles [Abstract]  
Schedule of Other intangible assets, net
 
June 30, 2012 (unaudited)
 
                               
   
Estimated
Life (years)
   
Gross
Carrying
Value
   
Accumulated Amortization
   
Cumulative Expense / Disposals
   
Intangible
Assets, Net
 
Amortizing Intangibles assets:
                             
Player Loyalty Program - Rising Star
    3     $ 1,700,000     $ (708,333 )   $ -     $ 991,667  
Wells Fargo Bank Loan Fees
    5       2,614,438       (924,336 )     (1,690,102 )     -  
Capital One Bank Loan Fees
    3       165,265                       165,265  
Non-amortizing intangible assets:
                                       
Gaming License-GEI - Rising Star
 
Indefinite
      9,900,000       -       -       9,900,000  
Gaming License- Silver Slipper Casino Venture, LLC
 
Indefinite
      142,081       -       -       142,081  
Gaming Licensing Costs - Nevada
 
Indefinite
      516,807       -       1       516,808  
Trademarks
 
Indefinite
      28,920       -       2,668       31,588  
            $ 15,067,511     $ (1,632,669 )   $ (1,687,433 )   $ 11,747,409  
 
 
 
   
December 31, 2011
 
                               
   
Estimated
Life (years)
   
Gross Carrying Value
   
Accumulated Amortization
   
Cumulative Expense / (Disposals)
   
Intangible
Assets, Net
 
Amortizing Intangibles assets:
                             
Player Loyalty Program - Rising Star
    3     $ 1,700,000     $ (425,000 )   $ --     $ 1,275,000  
Nevada State Bank Loan Fees
    15       218,545       (218,545 )     --       --  
Wells Fargo Bank Loan Fees
    5       2,614,438       (715,946 )     --       1,898,492  
                                         
Non-amortizing intangible assets:
                                       
Gaming License-GEI - Rising Star
 
Indefinite
      9,900,000       --       -       9,900,000  
Gaming Licensing Costs
 
Indefinite
      484,676       --       32,131       516,807  
Trademarks
 
Indefinite
      26,889       --       2,031       28,920  
            $ 14,944,548     $ (1,359,491 )   $ 34,162     $ 13,619,219