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Insurance Recoveries
12 Months Ended
Dec. 31, 2015
Insurance Recoveries [Abstract]  
Insurance Recoveries

13.INSURANCE RECOVERIES

 

During 2014, the Company incurred damage to buildings from multiple severe storms at the Racetrack and received $988,000 in total insurance proceeds. As of December 31, 2014, the Company recognized a $958,000 insurance recoveries gain in the Consolidated Statements of Operations as “Gain on insurance recoveries”.  During 2015, the Company received additional insurance proceeds of $495,000 and recognized a $495,000 insurance recoveries gain. The storms did not cause any material interruptions to the business or impact on the Company’s consolidated financial results of operations. Based on future events, the Company may receive additional insurance proceeds.  The Company has concluded that these additional funds represent contingent gains and in accordance with U.S. GAAP, have not been accounted for them in the Company’s 2015 consolidated financial statements.