5. LONG-TERM DEBT

On May 23, 2012, the Company through its Canadian subsidiaries entered into a CAD 28.0 million ($27.5 million) credit agreement with the Bank of Montreal (the “BMO Credit Agreement”). Proceeds from the BMO Credit Agreement were used to repay the Company’s mortgage loan related to the Edmonton property (the “Edmonton Mortgage”). The company will also use the proceeds to pursue the development or acquisition of new gaming opportunities and for general corporate purposes. The BMO Credit Agreement has a term of five years and is guaranteed by the Company. On May 23, 2012, we borrowed $3.7 million to repay the Edmonton Mortgage. On February 21, 2013, we borrowed an additional $7.3 million to pay for the additional 33.3% investment in CPL. The BMO Credit Agreement contains a number of financial covenants applicable to the Canadian subsidiaries, in addition to covenants restricting their incurrence of additional debt. The Company was in compliance with all covenants of the BMO Credit Agreement as of March 31, 2013. As of March 31, 2013, the amount outstanding was $10.6 million and we had approximately $14.9 million available under the BMO Credit Agreement. The $10.6 million we have borrowed cannot be re-borrowed once it is repaid.

Long-term debt at March 31, 2013 and December 31, 2012 consisted of the following:


	March 31,	December 31,
Amounts in thousands	2013	2012
Credit Agreement - Bank of Montreal	$ 10,619	$ 3,564

Total long-term debt	$ 10,619	$ 3,564
Less current portion	($1,173)	($372)
Long-term portion	$ 9,446	$ 3,192

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


Credit agreement - Bank of Montreal	March 31,	December 31,
Amounts in thousands	2013	2012
Deferred financing charges - current	$ 83	$ 85
Deferred financing charges - long-term	261	288
Total	$ 344	$ 373

Amortization expenses relating to deferred financing charges was less than $0.1 million for the three months ended March 31, 2013 and 2012, respectively, and are included in interest expense in the accompanying condensed consolidated statements of earnings.

The consolidated weighted average interest rate on all borrowings for the Company was 4.25% for the three months ended March 31, 2013. The Company currently pays a floating interest rate on its borrowings under the BMO Credit Agreement. The current interest rate is approximately 4.0%.

As of March 31, 2013, scheduled maturities of the long-term debt are as follows:


Amounts in thousands	CAD	USD
2013	1,192	1,173
2014	1,100	1,083
2015	1,100	1,083
2016	1,100	1,083
2017 and thereafter	6,293	6,197
Total	$ 10,785	$ 10,619