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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 16,713,056 $ 21,936,210
Restricted cash 5,714,338 3,905,544
Short-term investments 5,000,000 5,000,000
Accounts receivable, net of allowance of $7,670 for both periods 2,457,780 484,092
Inventory 292,986 249,370
Prepaid expenses 1,706,038 645,422
Income taxes receivable and prepaid income taxes 2,127,349 4,083,364
Total Current Assets 34,011,547 36,304,002
LONG-TERM ASSETS    
Other prepaid expenses 38,182 10,978
TIF receivable 16,969,097 13,972,875
Operating lease right-of-use asset 27,674 53,026
Equity investment 8,046,985 6,612,712
Land held for development 1,229,475 1,229,475
Land, buildings, and equipment, net 49,288,093 42,969,529
Total Long-term Assets 80,215,573 68,374,666
TOTAL ASSETS 114,227,120 104,678,668
CURRENT LIABILITIES    
Accounts payable 5,783,824 4,599,391
Casino accruals 2,240,551 2,667,499
Accrued wages and payroll taxes 2,806,975 1,662,927
Cash dividend payable 350,555 346,125
Accrued property taxes 726,331 741,215
Deferred revenue 325,883 274,898
Payable to horsepersons 2,906,622 763,383
Current portion of finance lease obligations 32,259 1,604
Current portion of operating lease obligations 27,674 25,352
Total Current Liabilities 15,200,674 11,082,394
LONG-TERM LIABILITIES    
Deferred income taxes 9,708,000 10,300,015
Investee losses in excess of equity investment 4,003,146 1,464,218
Finance lease obligations, net of current portion 125,682 7,770
Operating lease obligations, net of current portion 0 27,674
Total Long-term Liabilities 13,836,828 11,799,677
TOTAL LIABILITIES 29,037,502 22,882,071
STOCKHOLDERS’ EQUITY    
Common stock, $.01 par value, 10,000,000 shares authorized, 5,019,609 and 4,962,573 respectively, shares issued and outstanding 50,196 49,626
Additional paid-in capital 28,445,226 27,351,509
Retained earnings 56,694,196 54,395,462
Total Stockholders’ Equity 85,189,618 81,796,597
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 114,227,120 104,678,668
Related Party [Member]    
CURRENT ASSETS    
Accounts receivable, net of allowance of $7,670 for both periods 8,000 47,000
LONG-TERM ASSETS    
Related party receivable $ 4,616,067 $ 3,526,071