|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash flows from operating activities: |
|
|
| Net (loss) income attributable to the Company |
$ (3,962) |
$ 27,834 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: |
|
|
| Non-controlling interest in consolidated joint venture |
|
2,181 |
| Gain on sale of joint venture |
|
(41,189) |
| Stockman's goodwill impairment adjustment |
4,000 |
|
| Depreciation |
6,839 |
5,270 |
| Amortization of gaming and other rights |
|
593 |
| Amortization of loan fees |
1,831 |
2,395 |
| Amortization of player loyalty program, land lease and water rights |
2,550 |
1,021 |
| Other |
24 |
90 |
| Deferred and share-based compensation |
643 |
1,259 |
| Increases and decreases in operating assets and liabilities: |
|
|
| Accounts receivable, net |
788 |
2,840 |
| Prepaid expenses |
(544) |
(1,460) |
| Deferred tax |
1,977 |
(1,724) |
| Other assets |
499 |
(442) |
| Accounts payable and accrued expenses |
(2,359) |
(567) |
| Income taxes payable |
(7) |
(2,402) |
| Net cash provided by (used in) operating activities |
12,279 |
(4,301) |
| Cash flows from investing activities: |
|
|
| Proceeds from sale of joint venture, less holdback |
|
49,658 |
| Purchase of property and equipment |
(6,162) |
(2,986) |
| Deposits and other related costs |
(333) |
(1,286) |
| Other |
29 |
(115) |
| Net cash (used in) provided by investing activities |
(6,466) |
45,271 |
| Cash flows from financing activities: |
|
|
| Repayment of long-term debt and interest rate swap |
(11,250) |
(28,187) |
| Distributions to non-controlling interest in consolidated joint venture |
|
(3,323) |
| Loan fees |
(230) |
(3,564) |
| Net cash used in financing activities |
(11,480) |
(35,074) |
| Net (decrease) increase in cash and equivalents |
(5,667) |
5,896 |
| Cash and equivalents, beginning of year |
20,603 |
14,707 |
| Cash and equivalents, end of year |
14,936 |
20,603 |
| SUPPLEMENTAL CASH FLOW INFORMATION: |
|
|
| Cash paid for interest |
5,516 |
1,877 |
| Cash received from income tax refund, net of cash paid of $0.3 million for income taxes in 2013 and cash paid for income taxes in 2012 |
(2,409) |
21,876 |
| Borrowings paid directly to sellers and vendors at closing |
|
70,000 |
| Property acquisition financed with a capital lease |
$ 7,719 |
|