Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

12.SUBSEQUENT EVENTS

On October 31, 2014, CCE entered into a Joint Venture Agreement (“Joint Venture”) with Gambling and Entertainment LLC and Gambling and Entertainment International Corp. and its shareholders, pursuant to which CCE purchased 7.5%of the shares of Mendoza Central Entretenimientos S.A., a company formed in Argentina (“MCE”), for $1 million. Through the Joint Venture, CCE will work with MCE to utilize MCE’s exclusive concession agreement with Instituto Provincial de Juegos y Casinos to lease slot machines and provide related services to Mendoza Casino, a casino located in Mendoza, Argentina, and owned by the Province of Mendoza. The Joint Venture may also pursue other gaming opportunities. Under the Joint Venture, CCE has the right to appoint one director to MCE’s Board of Directors. In addition, CCE has a three-year option to purchase up to 50% of the shares of MCE and to appoint additional directors to MCE’s Board of Directors based on its ownership percentage of MCE. On October 31, 2014, CCE and MCE also entered into a Consulting Service Agreement in which CCE will provide advice on casino matters. Through the Consulting Service Agreement, CCE will receive a service fee consisting of a fixed fee plus a percentage of MCE’s earnings before interest, taxes, depreciation and amortization.

On November 5, 2014, the Company announced that it had amended its concession agreement with TUI Cruises to include the Mein Schiff 4. The new 2,500-passenger ship is currently being built and is scheduled to commence operations in June 2015.