INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes [Abstract]

Reconciliation of Effective Tax Rate

	2019		2018
Federal tax expense at statutory rates	$	928,000	$	1,618,800
Nondeductible lobbying expense		15,100		15,100
State expense, net of federal impact		316,000		615,300
Stock option expense		(14,200)		(74,200)
Federal deferred remeasurement		—		(175,600)
Other		(637)		(9,400)
	$	1,244,263	$	1,990,000

Schedule of Income Tax Expense

	2019		2018
Current
Federal	$	449,000	$	290,000
State		361,000		732,000
		810,000		1,022,000
Deferred, Federal		479,263		1,164,000
Deferred, State		(45,000)		(196,000)
	$	1,244,263	$	1,990,000

Schedule of Deferred Tax Assets and Liabilities

	2019		2018
Deferred tax assets (liabilities)
Vacation accrual	$	72,800	$	62,500
Player rewards program accrual		143,200		136,200
Stock options		75,100		37,400
Long-Term Incentive Plan		114,300		126,800
Other		5,500		5,600
Land, building and equipment - cost and depreciation		(4,062,800)		(3,507,500)
Investment in JV		(729,000)		(729,000)
Prepaid Expenses		(7,700)		(102,000)
TIF receivable accrued interest		(43,600)		—
Lease Obligations		27,900		—
Net long-term deferred tax liabilities	$	(4,404,300)	$	(3,970,000)