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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2016
STOCK-BASED COMPENSATION  
Summary of the stock option activity

A summary of the stock option activity as of and for the year ended December 31, 2016 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate

 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

Options

    

Shares

    

Price

    

Term

    

Value

 

Outstanding at beginning of period

 
2,038,587

 

$
15.67

 

—

 

 

—

 

Granted

 
411,947

 

 
22.37

 

—

 

 

—

 

Exercised

 
(360,175)

 

 
14.20

 

—

 

 

—

 

Forfeited

 
(147,000)

 

 
18.29

 

—

 

 

—

 

Expired

 
(11,100)

 

 
17.24

 

—

 

 

—

 

Outstanding at end of period

 
1,932,259

 

$
17.12

 
7.2

yrs.

$
17,068,441

 

Exercisable at end of period

 
764,261

 

$
15.62

 
5.2

yrs.

$
8,096,896

 

 

Summary of status of the Company's nonvested shares

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

Grant Date Fair

 

Nonvested Shares

    

Shares

    

Value

 

Nonvested at January 1, 2016

 
1,240,004

 

$
4.97

 

Granted

 
411,947

 

 
6.67

 

Vested

 
(336,953)

 

 
5.21

 

Forfeited

 
(147,000)

 

 
5.61

 

Nonvested at December 31, 2016

 
1,167,998

 

$
5.39

 

 

Schedule of option valuation assumptions for options granted

ffect the fair value estimate. Option valuation assumptions for options granted during each year were as follows (in thousands, except per share amounts and percentages):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31, 

 

 

 

    

2016

    

2015

    

2014

 

 

Expected volatility

 

 
35.81

%  

 
39.10

%  

 
34.95

%

 

Expected dividends

 

 

 —

 

 

 —

 

 

 —

 

 

Expected life (in years)

 

 

 

 

 

 

 

 

 

 

 

Directors’ plan

 

 
2.73

 

 
3.97

 

 
3.59

 

 

Executives plan

 

 
4.71

 

 
4.28

 

 
4.31

 

 

Employees plan

 

 
4.10

 

 
3.97

 

 
3.59

 

 

Weighted average risk free rate

 

 
1.14

%  

 
1.14

%  

 
1.06

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average grant date fair value per share of options granted

 

$
6.67

 

$
5.90

 

$
4.02

 

 

Total fair value of shares vested

 

$
1,758

 

$
1,041

 

$
913

 

 

Total intrinsic value of options exercised

 

$
3,276

 

$
4,321

 

$
8,921

 

 

Cash received for all stock option exercises

 

$
2,934

 

$
3,900

 

$
12,595

 

 

Tax benefit realized from stock awards exercised

 

$
1,146

 

$
1,512

 

$
3,122

 

 

 

Schedule of stock-based compensation expense

Reported stock-based compensation expense was classified as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year ended December 31, 

 

 

 

2016

    

2015

    

2014

 

Casino

 

$
95

 

$
58

 

$
45

 

Food and beverage

 

 
101

 

 
85

 

 
68

 

Hotel

 

 
37

 

 
21

 

 
11

 

Selling, general and administrative

 

 
1,448

 

 
1,380

 

 
1,102

 

Total stock-based compensation, before taxes

 

 
1,681

 

 
1,544

 

 
1,226

 

Tax benefit

 

 
(588)

 

 
(540)

 

 
(429)

 

Total stock-based compensation, net of tax

 

$
1,093

 

$
1,004

 

$
797