7. LONG-TERM DEBT

Long-term debt at December 31, 2011 and 2010 consisted of the following:

	December 31,
Amounts in thousands	2011			2010
Mortgage - Edmonton	$	9,100		$	13,336
Capital Leases - Edmonton	$	0		$	172

Total long-term debt	$	9,100		$	13,508
Less current portion	$	(9,100	)	$	(4,203	)
Long-term portion	$	0		$	9,305

Mortgage - Edmonton

In September 2005, CRA agreed to the terms of a $20.0 million (CAD 20.0 million) credit facility with Canadian Western Bank for the development of the Century Casino & Hotel in Edmonton, Alberta, Canada. The credit facility, originally structured as a construction loan, converted to a 60-month Edmonton Mortgage on December 20, 2007. The Edmonton Mortgage matures on December 31, 2012. Prior to December 31, 2012, CRA is able to renegotiate the Edmonton Mortgage for an additional one to five year term. The Company intends to refinance the Edmonton Mortgage prior to the maturity of the loan. The Edmonton Mortgage bears interest at a fixed rate of 7.0%. Monthly principal and interest payments on the Edmonton Mortgage are based on a 10-year amortization and are payable on the last day of each month. Under the terms of the Edmonton Mortgage, CRA is subject to various reporting requirements, a minimum equity requirement of approximately $11.1 million (CAD 11.3 million), is required, a minimum Cash Flow Coverage Ratio (as defined in the Edmonton Mortgage) of 1.20 and a minimum cash covenant of $3.4 million (CAD 3.5 million). During 2010 and 2011, the Company was in compliance with all the financial covenant terms of the Edmonton Mortgage.

The Edmonton Mortgage is secured by the assets of CRA and guaranteed by the Company. CRA may elect to prepay up to 10%, or $2.0 million (CAD 2.0 million), of the original principal amount of the Edmonton Mortgage annually without penalty or bonus. On December 22, 2010, the Company elected to make a $2.0 million (CAD 2.0 million) prepayment of the Edmonton Mortgage.

On January 25, 2011 and January 4, 2012, the Company elected to make additional $2.0 million (CAD 2.0 million) prepayments of the Edmonton Mortgage. The Company will recognize a cost savings of CAD 0.4 million in interest expenses over the remaining term of the Edmonton Mortgage as a result of prepayments. The principal balance outstanding under the Edmonton Mortgage as of December 31, 2011 was $9.1 million (CAD 9.3 million), which is included in current liabilities in the accompanying consolidated balance sheet for the year ended December 31, 2011.

Deferred financing charges, which are reported as a component of other assets, are summarized as follows:

	December 31,
Amounts in thousands	2011		2010
Deferred financing charges - current	$	101	$	55
Deferred financing charges - long-term	$	0	$	104
Total	$	101	$	159

Amortization expense relating to these deferred financing charges was $0.1 million for the years ended December 31, 2011 and 2010, and is included in interest expense in the accompanying consolidated statement of earnings.

The consolidated weighted-average interest rate on all borrowings was 7.0% and 7.1% for the years ended December 31, 2011 and 2010, respectively.