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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2017
STOCK-BASED COMPENSATION  
Summary of stock option activity

A summary of the stock option activity as of and for the year ended December 31, 2017 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

Aggregate

 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

Options

    

Shares

    

Price

    

Term

    

Value

 

Outstanding at beginning of period

 

1,932,259

 

$

17.12

 

—

 

 

—

 

Granted

 

411,956

 

 

37.57

 

—

 

 

—

 

Exercised

 

(320,408)

 

 

18.14

 

—

 

 

—

 

Forfeited

 

(33,336)

 

 

21.48

 

—

 

 

—

 

Expired

 

 —

 

 

 —

 

—

 

 

—

 

Outstanding at end of period

 

1,990,471

 

$

21.09

 

7.2

yrs.

$
47,371,054

 

Exercisable at end of period

 

787,504

 

$

13.85

 

5.5

yrs.

$
24,391,756

 

 

Summary of status of nonvested shares

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

Grant Date Fair

 

Nonvested Shares

    

Shares

    

Value

 

Nonvested at January 1, 2017

 

1,167,998

 

$

5.39

 

Granted

 

411,956

 

 

11.92

 

Vested

 

(343,651)

 

 

3.84

 

Forfeited

 

(33,336)

 

 

6.44

 

Nonvested at December 31, 2017

 

1,202,967

 

$

8.07

 

 

Schedule of stock options granted, vested and exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31, 

 

 

 

    

2017

    

2016

    

2015

 

 

Expected volatility

 

 

35.54

%  

 

35.81

%  

 

39.10

%

 

Expected dividends

 

 

 —

 

 

 —

 

 

 —

 

 

Expected life (in years)

 

 

 

 

 

 

 

 

 

 

 

Directors’ plan

 

 

2.99

 

 

2.73

 

 

3.97

 

 

Executives plan

 

 

5.05

 

 

4.71

 

 

4.28

 

 

Employees plan

 

 

4.14

 

 

4.10

 

 

3.97

 

 

Weighted average risk free rate

 

 

1.83

%  

 

1.14

%  

 

1.14

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average grant date fair value per share of options granted

 

$

11.92

 

$

6.67

 

$

5.90

 

 

Total fair value of shares vested

 

$

1,324

 

$

1,758

 

$

1,041

 

 

Total intrinsic value of options exercised

 

$

5,819

 

$

3,276

 

$

4,321

 

 

Cash received for all stock option exercises

 

$

5,813

 

$

2,934

 

$

3,900

 

 

Tax benefit realized from stock awards exercised

 

$

2,037

 

$

1,146

 

$

1,512

 

 

 

Schedule of stock-based compensation expense

(in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Year ended December 31, 

 

 

 

2017

    

2016

    

2015

 

Casino

 

$

114

 

$

95

 

$

58

 

Food and beverage

 

 

92

 

 

101

 

 

85

 

Hotel

 

 

33

 

 

37

 

 

21

 

Selling, general and administrative

 

 

2,005

 

 

1,448

 

 

1,380

 

Total stock-based compensation, before taxes

 

 

2,244

 

 

1,681

 

 

1,544

 

Tax benefit

 

 

(785)

 

 

(588)

 

 

(540)

 

Total stock-based compensation, net of tax

 

$

1,459

 

$

1,093

 

$

1,004