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Condensed Consolidated Statements of Cash Flows
6 Months Ended
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Operating Activities:    
Net income $ 2,585,654 $ 960,254
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,194,510 1,171,710
Stock-based compensation expense 155,030 157,983
Deferred income taxes 1,235,300 (225,400)
Stock appreciation rights   141,686
Gain on sale of land (3,990,519)  
Tax benefit from exercise of stock-based awards (1,015) (4,060)
Changes in operating assets and liabilities:    
Increase in restricted cash (4,422,574) (3,994,038)
Increase in accounts receivable (494,423) (381,979)
(Increase) decrease in other current assets (35,982) 40,791
Decrease (increase) in income taxes (payable) receivable 216,556 (332,145)
Increase in accounts payable 6,036,104 5,226,191
Increase in Card Casino accruals 731,773 488,540
Increase in accrued wages and payroll taxes (89,325) 2,761
Increase in accrued property taxes (366,463) 405
Increase in payable to horsepersons 51,665 72,584
Net cash provided by operating activities 2,806,291 3,325,283
Investing Activities:    
Additions to buildings and equipment (2,829,673) (3,342,762)
Purchase of investments (213) (500)
Net cash used in investing activities (2,829,886) (3,343,262)
Financing Activities    
Proceeds from issuance of common stock 141,303 72,325
Principle payments on capital lease obligations (1,887,349)  
Cash dividends to shareholders (1,072,470)  
Tax benefit (expense) from exercise of stock-based awards 1,015 4,060
Net cash provided by (used in) financing activities (2,817,501) 76,385
Net increase (decrease) in cash and cash equivalents (2,841,096) 58,406
Cash and cash equivalents at beginning of period 8,274,112 8,761,925
Cash and cash equivalents at end of period 5,433,016 8,820,331
Schedule of non-cash investing and financing activities    
Additions to buildings and equipment funded through accounts payable 369,000 182,000
Dividend declared   1,056,000
Issuance of promissory notes receivable 3,191,000  
Proceeds from land sale remitted to qualified intermediary 1,051,000  
Principal payments of capital lease obligation remitted from qualified intermediary 1,051,000  
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds $ 335,000 $ 1,222,000