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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 3,528,982 $ 2,420,577
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,487,523 1,383,753
Stock-based compensation expense 214,862 269,593
Stock-based employee match contribution 305,040 223,149
Gain on sale of land (12,151) (263,581)
Loss from equity investment 773,915 1,278,580
Changes in operating assets and liabilities:    
Accounts receivable (1,455,162) (1,618,914)
Employee retention credit 211,232 0
TIF receivable (332,369) (305,132)
Inventory and prepaid expenses (65,352) (558,464)
Income taxes receivable/payable and prepaid income taxes (3,217,596) 982,302
Operating lease right-of-use assets 9,052 8,849
Operating lease liabilities (9,052) (8,849)
Accounts payable 1,499,494 196,062
Deferred revenue 623,690 891,045
Card Casino accruals (758,244) 191,330
Accrued wages and payroll taxes 1,064,631 2,209,598
Accrued property taxes (3,924) (21,500)
Payable to horsepersons 6,423,462 4,053,344
Net cash provided by operating activities 10,288,033 11,331,742
Investing Activities:    
Additions to land, buildings, and equipment (1,710,954) (1,343,158)
Proceeds from sale of land 1,159,640 2,288,952
Additions for TIF eligible improvements 0 (8,907)
Equity investment contributions (397,807) 0
Increase in related party receivable (106,193) (267,569)
Net cash (used in) provided by investing activities (1,055,314) 669,318
Financing Activities:    
Proceeds from issuance of common stock 72,554 102,450
Cash dividend paid to shareholders (678,981) (1,706)
Payments for taxes related to net share settlement of equity awards (212,608) (25,948)
Principal payments on finance lease (13,363) (12,716)
Net cash (used in) provided by financing activities (832,398) 62,080
Net increase in cash, cash equivalents, and restricted cash 8,400,321 12,063,140
Cash, cash equivalents, and restricted cash at beginning of period 15,598,753 4,471,712
Cash, cash equivalents, and restricted cash at end of period 23,999,074 16,534,852
Schedule of non-cash investing and financing activities    
Additions to land, buildings, and equipment funded through accounts payable 314,000 584,000
Dividend declared but not yet paid 340,000 0
Transfer of future TIF reimbursed costs from land, buildings, and equipment 0 9,000
Change in investee losses in excess of equity investments 1,012,000 1,286,000
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds 4,442,000 350,000
Interest paid $ 9,000 $ 2,000