Significant Accounting Policies (Tables)

9 Months Ended

Jan. 31, 2019

Complimentary other revenues, whether provided as nondiscretionary complimentaries or discretionary complimentaries, were as follows for continuing operations:

	Three Months Ended				Nine Months Ended
	January 31, 2019		January 31, 2018		January 31, 2019		January 31, 2018
Food and beverage	$	992,595	$	1,012,407	$	2,863,087	$	2,991,976
Other		40,995		40,414		122,552		125,530
Total complimentries	$	1,033,590	$	1,052,821	$	2,985,639	$	3,117,506

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The

amount

by which each line item in continuing operations in our unaudited Condensed Consolidated Statement of Operations for the three and nine months ended January 31, 2019 was affected by the new revenue standard as compared with the accounting guidance that was in effect before the change was as follows:

	For the three months ended January 31, 2019
	As Reported - With Adoption of ASC 606		As Adjusted - Without Adoption of ASC 606			Effect of Accounting Change Increase/(Decrease)
Revenues:
Casino	$	11,547,379	$	12,580,969		$	(1,033,590	)
Food and beverage		2,665,342		2,665,342			-
Other		351,656		351,656			-
Gross revenues		14,564,377		15,597,967			(1,033,590	)
Less promotional allowances		-		(1,033,590	)		1,033,590
Net revenues		14,564,377		14,564,377			-

Expenses:
Casino		5,342,905		6,215,934			(873,029	)
Food and beverage		2,345,769		1,503,539			842,230
Other		57,038		26,239			30,799
Marketing and administrative		4,396,277		4,396,277			-
Facility		430,201		430,201			-
Corporate		1,630,561		1,630,561			-
Depreciation and amortization		112,537		112,537			-
Total operating expenses		14,315,288		14,315,288			-
Operating income	$	249,089	$	249,089		$	-

Net income from continuing operations	$	42,881	$	42,881		$	-

	For the nine months ended January 31, 2019
	As Reported - With Adoption of ASC 606			As Adjusted - Without Adoption of ASC 606			Effect of Accounting Change Increase/(Decrease)
Revenues:
Casino	$	35,051,766		$	38,033,727		$	(2,981,961	)
Food and beverage		7,675,267			7,675,267			-
Other		1,071,966			1,071,966			-
Gross revenues		43,798,999			46,780,960			(2,981,961	)
Less promotional allowances		-			(2,985,639	)		2,985,639
Net revenues		43,798,999			43,795,321			3,678

Expenses:
Casino		16,684,984			19,193,189			(2,508,205	)
Food and beverage		6,793,978			4,375,020			2,418,958
Other		170,858			77,933			92,925
Marketing and administrative		13,265,222			13,265,222			-
Facility		1,315,761			1,315,761			-
Corporate		4,261,090			4,261,090			-
Depreciation and amortization		357,193			357,193			-
Gain on sale of assets		(34,356	)		(34,356	)		-
Total operating expenses		42,814,730			42,811,052			3,678
Operating income	$	984,269		$	984,269		$	-

Net income from continuing operations	$	473,394		$	473,394		$	-