Note 12 - Subsequent Events

6 Months Ended

Oct. 31, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

12.

 Subsequent Events:

Subsequent to

October 31, 2019,

the State of Kansas approved a renewal management contract and an amendment to the current management contract for our Professional Services company BNSC via BHCMC. The renewal will take effect

December 15, 2024,

and continue to

2039,

another

15

years. Under the new contracts, BNSC via BHCMC is obligated to spend

$9.6

million in capital expenditures and other expenditures between now and

December 14, 2024

and spend

$1.0

million per year from

December 15, 2024

to

December 14, 2039.

The

15

year renewal contract allows the State to increase its share of gaming revenue by

two

percentage points.

The contract obligation for the expenditures defined in the amendment over the remaining life of the current management contract and the renewal contract total

$24.6

million.  These expenditures are front loaded and begin in our fiscal year

2020.

The Company evaluated its

October 31, 2019

financial statements for subsequent events through the filing date of this report. The Company is

not

aware of any subsequent events, other then the

one

listed above, that would require recognition or disclosure in the financial statements.