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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2020
STOCK-BASED COMPENSATION.  
Summary of stock option activity

Weighted Average

Remaining

Aggregate

Exercise

Contractual

Intrinsic

Stock Options

    

Shares

    

Price

    

Term

    

Value

 

Stock Option Shares outstanding at beginning of period

 

2,337,119

 

$

29.49

 

 

Stock Option Shares granted

 

428,298

 

50.14

 

 

Stock Option Shares exercised

 

(428,971)

 

18.21

 

 

Stock Option Shares forfeited

 

(141,667)

 

40.62

 

 

Stock Option Shares expired

 

 

 

 

Stock Option Shares outstanding at end of period

 

2,194,779

 

$

35.01

 

6.7

yrs.

$

57,527,731

Stock Option Shares exercisable at end of period

 

1,016,825

 

$

23.28

 

4.5

yrs.

$

38,580,169

Summary of status of nonvested shares

Weighted-Average

Grant Date Fair

Nonvested Stock Option Shares

    

Shares

    

Value

 

Nonvested at January 1, 2020

 

1,229,651

 

$

12.37

Granted

 

428,298

 

17.33

Vested

 

(338,328)

 

11.38

Forfeited

 

(141,667)

 

12.11

Nonvested at December 31, 2020

 

1,177,954

 

$

14.49

Schedule of stock options granted, vested and exercised

Year ended December 31, 

    

2020

    

2019

    

2018

 

Weighted average expected volatility for options granted

 

40.87

%  

 

30.13

%  

 

32.98

%

Expected dividends

 

 

 

Expected life (in years)

Directors’ plan

 

3.26

 

3.04

 

3.04

Executives plan

 

5.22

 

5.07

 

5.07

Employees plan

 

4.13

 

4.18

 

4.12

Weighted average risk free rate

 

0.48

%  

 

1.83

%  

 

2.76

%

Weighted average grant date fair value per share of options granted

 

$

17.33

 

$

12.19

 

$

13.52

Total fair value of shares vested

 

$

3,852

 

$

2,407

 

$

2,080

Total intrinsic value of options exercised

 

$

15,258

 

$

5,932

 

$

4,659

Cash received for all stock option exercises

 

$

7,813

 

$

4,060

 

$

2,354

Tax benefit realized from stock awards exercised

 

$

3,204

 

$

1,246

 

$

978

Schedule of stock-based compensation expense

Reported stock-based compensation expense was classified as follows (in thousands) and it is included in the Operating expenses in the Consolidated Statement of Income:

For the Year ended December 31, 

 

2020

    

2019

    

2018

 

Casino

 

$

168

 

$

205

 

$

129

Food and beverage

 

(26)

 

211

 

137

Hotel

 

127

 

109

 

66

Selling, general and administrative

 

3,586

 

3,600

 

2,799

Total stock-based compensation, before taxes

 

3,855

 

4,125

 

3,131

Tax benefit

 

(810)

 

(866)

 

(657)

Total stock-based compensation, net of tax

 

$

3,045

 

$

3,259

 

$

2,474