XML 49 R24.htm IDEA: XBRL DOCUMENT v3.3.0.814
Note 2 - Merger with Sartini Gaming, Inc. (Tables)
9 Months Ended
Sep. 30, 2015
Notes Tables  
Summary of Pre-Merger Values [Table Text Block]
 
Pre-Merger
Value of Lakes
 
Lakes %
 
Pre-Merger
Value of Sartini
Gaming
Sartini
Gaming %
 
Total Post-Closing
Shares
(1)
Total Shares Issued
in Connection
with Merger
(2)
$ 135,050,464     63.2%   $ 78,646,870     36.8%     22,368,603   8,229,908
 
Pre-Merger
Value of Lakes
 
Lakes %
Pre-Merger
Value of Sartini
Gaming
Sartini
Gaming %
Total Post-Closing
Shares
(1)
Total Shares Issued
in Connection
with Merger
(2)
$ 134,615,083     62.6% $ 80,523,753     37.4%   22,592,260   8,453,565
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
 
 
Amount
 
Cash
  $ 25,539  
Other current assets
    16,534  
Property and equipment
    84,104  
Intangible assets
    80,700  
Goodwill
    90,639  
Current liabilities
    (13,245 )
Warrant liability
    (3,435 )
Debt
    (190,587 )
Deferred tax liability
    (12,728 )
Other long-term liabilities
    (2,217 )
Total assumed purchase price
  $ 75,304  
Property, Plant and Equipment Acquired [Table Text Block]
 
 
Remaining
Useful Life (Years)
 
 
Amount
Assigned
 
Land
 
Not applicable
    $ 12,470  
Land improvements
    10       4,030  
Building and improvements
    25       21,310  
Leasehold improvements
    4       20,793  
Furniture, fixtures and equipment
    1       22,866  
Construction in process
 
Not applicable
      2,635  
Total property and equipment
          $ 84,104  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
 
 
Remaining
Useful Life (Years)
 
 
Amount
Assigned
 
Trade names
  10     $ 12,200  
Player relationships
   8 - 14       7,600  
Customer relationships
   13 - 16       59,200  
Gaming licenses
 
Indefinite
      900  
Other intangible assets
   2 - 10       800  
Total intangible assets
            $ 80,700  
Finite-lived Intangible Assets Amortization Expense [Table Text Block]
 
 
Remainder of
2015
 
2016
 
 
2017
 
 
2018
 
 
2019
 
 
2020
 
 
Thereafter
 
 
 
(In thousands)
 
Estimated amortization expense
  $ 1,569   $ 6,274     $ 6,212     $ 6,124     $ 6,124     $ 6,124     $ 46,327  
Business Acquisition, Pro Forma Information [Table Text Block]
 
 
Three Months Ended
 
 
Nine Months Ended
 
 
 
September 30,
 
 
September 28,
 
 
September 30,
 
 
September 28,
 
 
 
2015
 
 
2014
 
 
2015
 
 
2014
 
 
(In thousands, except per share data)
 
Pro forma combined net revenues
  $ 86,222     $ 83,332     $ 259,002     $ 251,842  
Pro forma combined net income (loss)
    8,651       (28,884 )     3,306       (35,085 )
                                 
Pro forma combined net income (loss) per share:
                               
Basic
  $ 0.40     $ (1.34 )   $ 0.15     $ (1.62 )
Diluted
  $ 0.40     $ (1.34 )   $ 0.15     $ (1.62 )
                                 
Weighted average common shares outstanding:
                               
Basic
    21,622       21,619       21,622       21,606  
Diluted
    21,622       21,619       21,622       21,606