STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

STOCK-BASED COMPENSATION

Schedule of stock-based compensation expense

Reported stock-based compensation expense was classified as follows (in thousands):

	For the years ended December 31,
	2014			2013			2012
Casino	$	45		$	20		$	65
Food and beverage	68			33			81
Hotel	11			3			20
Selling, general and administrative	1,102			1,164			1,202
Total stock-based compensation, before taxes	1,226			1,220			1,368
Tax benefit	(429		)	(427		)	(479		)
Total stock-based compensation, net of tax	$	797		$	793		$	889

Summary of the stock option activity

A summary of the stock option activity as of and for the year ended December 31, 2014 is presented below:

			Weighted Average
Options	Shares		Exercise Price		Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at beginning of period	2,886,574		$	12.51	—	—
Granted	377,000		14.44		—	—
Exercised	(1,136,371	)	11.08		—	—
Forfeited	(125,000	)	11.09		—	—
Expired	—		—		—	—
Outstanding at end of period	2,002,203		$	13.73	7.0 yrs.	$	8,468,661
Exercisable at end of period	829,060		$	14.22	5.0 yrs.	$	3,887,865

Summary of status of the Company's nonvested shares

Nonvested Shares	Shares		Weighted-Average Grant Date Fair Value
Nonvested at January 1, 2014	1,203,070		$	12.51
Granted	377,000		4.02
Vested	(281,927	)	3.24
Forfeited	(125,000	)	11.09
Nonvested at December 31, 2014	1,173,143		$	13.73

Schedule of option valuation assumptions for options granted

Option valuation assumptions for options granted during each year were as follows (in thousands, except per share amounts and percentages):

	Years ended December 31,
	2014			2013			2012
Expected volatility	34.95		%	37.03		%	56.1		%
Expected dividends	—			—			—
Expected life (in years)
Directors’ plan	3.59			3.32			9.5
Executives plan	4.31			4.48			3.1
Employees plan	3.59			3.32			3.1
Weighted average risk free rate	1.06		%	0.85		%	0.40		%
Weighted average grant date fair value per share of options granted	$	4.02		$	5.38		$	3.43
Total fair value of shares vested	$	913		$	1,123		$	1,918
Total intrinsic value of options exercised	$	8,921		$	2,737		$	41
Cash received for all stock option exercises	$	12,595		$	3,438		$	53
Tax benefit realized from stock awards exercised	$	3,122		$	958		$	14