v3.25.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 12,064,854 $ 10,075,642
Restricted cash 3,759,248 3,611,776
Short-term investments 5,000,000 5,000,000
Accounts receivable, net of allowance of $7,670 at December 31, 2025 and 2024 342,866 439,121
Inventory 269,419 250,658
Prepaid expenses 1,180,025 1,849,015
Income taxes receivable and prepaid income taxes 2,426,857 3,186,465
Total Current Assets 25,043,269 24,412,677
LONG-TERM ASSETS    
Deposits 99,147 19,650
Other prepaid expenses 15,972 19,951
TIF receivable 19,986,287 18,898,445
Operating lease right-of-use assets 0 27,674
Equity investment (Note 11) 5,155,644 6,976,091
Other long-term receivables (Note 9) 2,097,463 1,597,463
Land held for development 2,659,257 2,183,930
Land, buildings, and equipment, net (Note 3) 51,564,440 51,042,988
Total Long-term Assets 87,537,811 85,510,105
TOTAL ASSETS 112,581,080 109,922,782
CURRENT LIABILITIES    
Accounts payable 2,218,679 3,665,155
Casino accruals 2,424,310 2,159,249
Accrued wages and payroll taxes 2,007,174 2,151,524
Cash dividend payable 356,949 351,373
Accrued property taxes 1,171,974 1,103,784
Deferred revenue 541,236 311,244
Payable to horsepersons 873,065 870,775
Current portion of finance lease obligations 35,862 32,950
Current portion of operating lease obligations 0 27,674
Total Current Liabilities 9,629,249 10,673,728
LONG-TERM LIABILITIES    
Deferred income taxes (Note 4) 10,471,000 9,846,000
Investee losses in excess of equity investment 8,521,464 5,016,198
Finance lease obligations, net of current portion 81,319 117,182
Operating lease obligations, net of current portion 0 0
Other long-term liabilities 0 181,000
Total Long-term Liabilities 19,073,783 15,160,380
TOTAL LIABILITIES 28,703,032 25,834,108
STOCKHOLDERS’ EQUITY (Note 5)    
Common stock, $.01 par value, 10,000,000 shares authorized, 5,121,331 and 5,036,717, respectively, shares issued and outstanding 51,213 50,367
Additional paid-in capital 30,690,660 28,940,887
Retained earnings 53,136,175 55,097,420
Total Stockholders’ Equity 83,878,048 84,088,674
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 112,581,080 109,922,782
Related Party [Member]    
CURRENT ASSETS    
Accounts receivable, net of allowance of $7,670 at December 31, 2025 and 2024 19,000 34,000
LONG-TERM ASSETS    
Related party receivable (Note 12) $ 5,959,601 $ 4,743,913