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Project Development Costs
6 Months Ended
Jun. 30, 2015
Project Development Costs [Abstract]  
Project Development Costs
Project Development Costs
    
Because of the uncertainty of the awarding of a Gaming Facility License in such a competitive environment, all costs incurred for the Casino Project as part of the proposed Gaming Facility will be expensed until we are awarded a Gaming Facility License. Although we were selected on December 17, 2014 by the Siting Board to apply to the NYSGC for a Gaming Facility License, it is not certain that we will obtain a Gaming Facility License necessary for the Casino Project.

Our total assets include approximately $42.5 million of remaining net proceeds available from the January 2015 Rights Offering (as defined and discussed in Note A above) which are presented on the balance sheet as a non-current asset. The proceeds of the January 2015 Rights Offering, which were approximately $49.5 million, may be used solely to pay for the expenses relating to the pursuit of a Gaming Facility License for the Casino Project and for development purposes. Approximately $7.0 million has been disbursed during the six months ended June 30, 2015. If the Company is not awarded a Gaming Facility License, the remaining portion of the proceeds of the January 2015 Rights Offering will be used in its on-going operations, including the potential repayment of the $17.4 million Kien Huat Note.

For the six months ended June 30, 2015, total Casino Project development costs incurred were approximately $9.4 million and consisted of $1.5 million in legal, consultants and other professional services, $2.3 million of non-refundable payments pertaining to the Option Agreement with EPR, and $5.6 million in architectural, engineering fees and construction manager costs.

For the six months ending June 30, 2014, total Casino Project development costs expensed were approximately $7.8 million and consisted of $1.6 million in architectural fees, $1.0 million payment for an application fee, $2.8 million in legal, construction manager costs, consultants and other professional services, $900,000 payment to Kien Huat for a commitment fee pursuant to the Commitment letter, and $1.5 million of non-refundable payments pertaining to the Option Agreement with EPR.