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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:    
Net income $ 7,512,946 $ 11,798,153
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,981,168 2,844,647
Stock-based compensation expense 449,891 548,282
Stock-based employee match contribution 618,735 557,396
Deferred income taxes (197,000) 323,315
Loss on disposal of assets 157,435 0
Loss from equity investment 1,567,822 2,703,299
Gain on sale of land (12,151) (263,581)
Changes in operating assets and liabilities:    
Accounts receivable (230,061) (157,049)
Employee retention credit receivable 211,232 (6,314,468)
Increase in TIF receivable (791,594) (614,173)
Inventory, prepaid expenses and deposits 36,953 (158,387)
Income taxes receivable/payable and prepaid income taxes (788,308) 2,767,565
Operating lease right-of-use assets 22,786 22,271
Operating lease liabilities (22,786) (22,271)
Accounts payable 456,328 (901,150)
Deferred revenue (319,850) 297,426
Casino accruals (572,833) 929,283
Accrued wages and payroll taxes 45,301 619,476
Accrued property taxes 21,322 (30,493)
Payable to horsepersons 70,106 (1,451,273)
Net cash provided by operating activities 11,217,442 13,498,268
Investing Activities:    
Additions to land, buildings, and equipment (4,997,481) (3,780,759)
Proceeds from sale of land 1,159,640 2,288,952
Purchase of short-term investments (5,000,000) 0
Cash dividends received from investments 337,192 0
Increase in related party receivable (376,521) (636,889)
Equity investment contribution (397,807) (372,992)
Net cash used in investing activities (9,274,977) (2,501,688)
Financing Activities:    
Proceeds from issuance of common stock 164,824 183,864
Cash dividend paid to shareholders (1,360,369) (1,706)
Payments for taxes related to net share settlement of equity awards (212,608) (25,948)
Principal payments on finance lease (27,062) (25,749)
Net cash (used in) provided by financing activities (1,435,215) 130,461
Net increase in cash, cash equivalents, and restricted cash 507,250 11,127,041
Cash, cash equivalents, and restricted cash at beginning of year 15,598,753 4,471,712
Cash, cash equivalents, and restricted cash at end of year 16,106,003 15,598,753
Schedule of non-cash investing and financing activities    
Additions to land, buildings, and equipment funded through accounts payable 606,000 254,000
Dividend declared but not yet paid 342,000 0
Transfer of future TIF reimbursed costs from land, buildings, and equipment 0 471,000
Change in investee losses in excess of equity investments 1,981,000 1,205,000
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds 3,707,000 897,519
Interest paid $ 2,000 $ 3,000