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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Operating Activities:    
Net income $ 4,195,980 $ 2,727,022
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,547,772 2,297,613
Stock-based compensation expense 314,088 284,628
Stock-based employee match contribution 371,219  
Stock appreciation rights   141,686
Deferred income taxes 2,015,100 383,500
Tax expense (benefit) from exercise of stock-based awards 79,991 (4,060)
Gain on disposal of assets (3,868,631) (1,006,910)
Gain on insurance proceeds (1,464,923) (495,465)
(Increase) decrease in cash resulting from changes in operating assets:    
Restricted cash (426,955) (493,877)
Accounts receivable (280,945) 36,813
Other current assets (69,740) 255,555
Income taxes receivable/payable (156,110) (739,910)
Increase (decrease) in cash resulting from changes in operating liabilities:    
Accounts payable and accrued wages and payroll taxes 655,955 666,978
Card Casino accruals 874,839 357,978
Accrued property taxes 220,548 58,097
Payable to horsepersons (66,703) (40,216)
Net cash provided by operating activities 4,941,485 4,429,432
Investing Activities:    
Additions to buildings and equipment (4,431,418) (4,341,792)
Deposit for land purchase funded by capital lease   (260,000)
Proceeds from sale of assets 22,500 99,441
Proceeds from insurance claims 592,276 495,466
Purchase of investments (457) (667)
Net cash used in investing activities (3,817,099) (4,007,552)
Financing Activities    
Cash dividend paid to shareholders (1,287,801) (1,055,374)
Principle payments on capital lease (1,887,349)  
Proceeds from issuance of common stock 155,450 141,621
Tax benefit (expense) from exercise of stock-based awards (79,991) 4,060
Net cash provided by (used in) financing activities (3,099,691) (909,693)
Net increase (decrease) in cash and cash equivalents (1,975,305) (487,813)
Cash and cash equivalents at beginning of year 8,274,112 8,761,925
Cash and cash equivalents at end of year 6,298,807 8,274,112
Schedule of non-cash investing and financing activities    
Additions to buildings and equipment funded through accounts payable   131,000
Additions to land funded by capital lease borrowings   3,178,000
Purchase of land through qualified intermediary   4,881,000
Cancellation of stock appreciation rights   641,000
Dividend declared 216,000  
Issuance of promissory notes receivable 3,191,000  
Insurance recoveries proceeds receivable 874,000  
Stock-based emoloyee match contribution 371,000  
Proceeds from land sale remitted to qualified intermediary 1,051,000 1,459,042
Payment for purchase of land remitted from qualified intermediary 1,051,000 1,442,706
Receivable from qualified intermediary   16,336
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds 1,145,000 1,930,000
Interest paid $ 51,000 $ 200