Intangible and Other Assets Related to Indian Casino Projects

3 Months Ended

Apr. 01, 2012

Intangible and Other Assets Related to Indian Casino Projects [Abstract]

Intangible and Other Assets Related to Indian Casino Projects

6.  Intangible and Other Assets Related to Indian Casino Projects

Intangible Assets

Intangible assets consist of costs associated with the acquisition of the development, financing and management contracts with the Shingle Springs Tribe for the Red Hawk Casino and are periodically evaluated for impairment after they are initially recorded. The intangible assets related to the Shingle Springs Tribe are being amortized through the end of the management contract, which expires in December 2015.

Information with respect to the intangible assets related to the Shingle Springs Tribe is summarized as follows (in thousands):

	Shingle Springs Tribe
Balances, January 1, 2012	$	4,184
Amortization		(264)
Impairment losses		—
Balances, April 1, 2012	$	3,920

Management Fees Receivable and Other

Management fees receivable and other include financial instruments related to deferred management fees and interest due from the Shingle Springs Tribe of $5.6 million and $6.0 million as of April 1, 2012 and January 1, 2012, respectively. As defined in the management agreement with the Shingle Springs Tribe, payment of management fees, if any, are deferred when operating results are not sufficient and are paid in subsequent periods when operating results are sufficient. In addition, management fees receivable and other include amounts due from Mr. Kevin M. Kean (see note 10, Contract Acquisition Costs Payable). Financial instruments related to Mr. Kean have a carrying value of $1.2 million and $1.3 million, net of current portion of $0.5 million as of April 1, 2012 and January 1, 2012, respectively.