XML 17 R9.htm IDEA: XBRL DOCUMENT  v2.3.0.11
RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2011
RELATED PARTY TRANSACTIONS

Note 4.  RELATED PARTY TRANSACTIONS

The Company entered into a Services Agreement, Joint Services Agreement and Joint Marketing Agreement with Resorts International Hotel, Inc. (“Resorts”) an affiliate of the Company (through common control) on June 18, 2004.  On April 25, 2005, the Joint Services Agreement and the Joint Marketing Agreement were amended and restated to add RIH Resorts, LLC, an affiliate of the Company (through common control), as a party to the agreements.  These agreements provide for an initial term of three years with automatic one year renewal periods.  The agreements provide that the Company and Resorts will cooperatively develop and implement joint services and marketing programs.

 

The Company provides and/or receives services from affiliated companies.  The total net value of services received from the affiliated companies and which was included in expenses was approximately $534,000 for the six months ended June 30, 2011 and $924,000 for the six months ended June 30, 2010.

 

On July 30, 2010 the Company entered into an agreement with its lender to provide additional advances which were funded by an affiliate.  The terms of the agreement are reflected in Note 3 – Term Loan.