Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Leases

The Company has an operating lease for a property located adjacent to the Gold Hill Hotel, which is primarily used as a room rental. The lease runs from 2018 until 2028. The monthly rent is $750 with automatic annual increases of $25 per month every November, beginning in 2020. The operating lease is sub-leased to Crown Point Management LLC, the operators of the Gold Hill Hotel, and not separately valued within the Gold Hill Hotel lease.

For the three and six-month periods ended June 30, 2020, the fixed operating lease expense was $2,250 and $4,500 with 8.3 years remaining.

Supplemental information related to the Company's operating lease, for the six months ended June 30, 2020, follows:

Cash paid for amounts included in the measurement of lease liabilities	$	4,500
Right-of-use assets obtained in exchange for operating lease obligations	$	1,978

The Company has the following lease balances recorded in the condensed consolidated balance sheet as follows:

Lease Assets and Liabilities	Classification	June 30, 2020
Operating lease right-of-use asset	Other assets	$	53,353
Operating lease liability - current	Accrued expenses and other liabilities	$	3,310
Operating lease liability - long-term	Other liabilities	51,691
Total operating lease liabilities		$	55,001

Maturities of lease liabilities by fiscal year for the Company's operating leases are as follows:

Remainder of 2020	$	4,550
2021	9,350
2022	9,650
2023	9,950
2024	10,250
Thereafter	42,050
Total operating lease payments	85,800
Less: Imputed interest	30,799
Present value of lease liabilities	$	55,001