Discontinued Operations (Tables)

9 Months Ended

Jan. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups Including Discontinued Operations Income Statement

The results of discontinued operations are summarized as follows:

	Three months ended						Nine months ended
	January 31,			January 31,			January 31,			January 31,
	2019			2018			2019			2018
Gross revenues	$	2,289,969		$	3,862,505		$	8,750,437		$	11,827,509
Less promotional allowances		-			(552,248	)		-			(1,713,786	)
Net revenues		2,289,969			3,310,257			8,750,437			10,113,723
Casino and food and beverage expense		1,331,637			2,027,281			5,456,195			6,111,932
Marketing and administrative		644,731			839,229			2,305,831			2,561,965
Facility and other expenses		52,544			87,968			236,513			245,878
Depreciation and amortization		-			340,385			220,531			1,087,380
Goodwill impairment		-			-			115,128			-
Loss on reclassification as held for sale		-			-			84,872			-
Loss on sale of assets		472,866			-			472,735			-
Income tax benefit		(48,215	)		(156,038	)		(34,506	)		(128,680	)
(Loss) income from discontinued operations, net of taxes	$	(163,594	)	$	171,432		$	(106,862	)	$	235,248

Disposal Groups Including Discontinued Operations Balance Sheet

The assets and liabilities held for sale related to Club Fortune were as follows:

	January 31,		April 30,
	2019		2018
Assets:
Accounts receivable, net	$	-	$	140,370
Prepaid expenses and other assets		-		377,811
Inventory		-		88,998
Goodwill		-		2,831,434
Intangible assets, net		-		1,208,294
Property and equipment, net		-		9,558,045
Total assets held for sale	$	-	$	14,204,952
Liabilities:
Accounts payable and accrued liabilities	$	-	$	345,231
Accrued payroll and related		-		238,688
Accrued player’s club points and progressive jackpots		-		318,801
Total liabilities held for sale	$	-	$	902,720