OTHER OPERATING ITEMS, NET

Other operating items, net, are comprised of the following:



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
	(In thousands)
Acquisition related expenses	$	6,242		$	370		$	6,272		$	370
Gain on insurance settlement, net of flood expenses	(6,294		)	1,143			(6,091		)	1,143
Gain on insurance proceeds, net of asset write downs	(2,144		)	852			(2,130		)	929
Impairment of trademark	—			—			—			5,000
Measurement period adjustments	—			(103		)	—			(473		)
Total other operating items, net	$	(2,196	)	$	2,262		$	(1,949	)	$	6,969

Acquisition Related Expenses

During the three months ended June 30, 2012 and 2011, we recorded $6.2 million and $0.4 million of expenses related to evaluating various acquisition possibilities and other business development activities. Acquisition related expenses for the three and six months ended June 30, 2012, primarily relate to our pending acquisition of Peninsula Gaming, as discussed further in Note 1, Summary of Significant Accounting Policies.

During the six months ended June 30, 2012 and 2011, we recorded $6.3 million and $0.4 million of expenses related to evaluating various acquisition possibilities and other business development activities.

Gain on Insurance Settlement, Net of Flood Expenses

During the three months and six months ended June 30, 2012, we recorded a gain on the business interruption insurance proceeds of $6.3 million due to flooding of the Mississippi River and temporary closure of our Tunica property in May 2011, compared to flood expenses of $1.1 million, net of recoveries, in the same periods of the prior year.

Gain on Insurance Proceeds

During the three and six months ended June 30, 2012, we recognized a gain of $2.1 million related to the subrogation of insurance claims related to the fire that occurred during construction of The Water Club at Borgata in September 2007.

Net of Asset Write-Downs

During the three and six months ended June 30, 2011, we recognized a loss of $0.9 million in connection with the disposal of certain property and equipment in the ordinary course of business.

Impairment of Trademark

As discussed in Note 6, Intangible Assets, during the six months ended June 30, 2011, we recorded a $5.0 million impairment to the trademark, based upon the performance of an interim impairment tests in connection with the valuation of Borgata.

Measurement Period Adjustments

In connection with the valuation procedures we performed on Borgata, we recorded measurement adjustments of $0.1 million and $0.5 million during the three and six months ended June 30, 2011, which were primarily comprised of a $0.3 million bargain purchase gain.