Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 07, 2015 | |
Document and Entity Information | ||
Entity Registrant Name | ALST Casino Holdco, LLC | |
Entity Central Index Key | 1,527,705 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 432,213 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 9,769 | $ 13,888 |
Receivables, net | 1,220 | 1,237 |
Inventories | 783 | 964 |
Prepaid gaming taxes | 1,881 | 1,501 |
Prepaid expenses and other current assets | 848 | 2,402 |
Total current assets | 14,501 | 19,992 |
Property and equipment, net | 63,840 | 63,043 |
Intangible assets, net | 1,964 | 2,051 |
Other assets, net | 4,404 | 5,092 |
Total assets | 84,709 | 90,178 |
Current liabilities: | ||
Current portion of long-term debt | 79 | 76 |
Accounts payable | 1,906 | 1,808 |
Accrued payroll and related | 1,956 | 2,073 |
Accrued gaming and related | 1,708 | 1,876 |
Accrued expenses and other current liabilities | 518 | 428 |
Total current liabilities | 6,167 | 6,261 |
Long-term debt, less current portion | 42,787 | 51,223 |
Total liabilities | 48,954 | 57,484 |
Members' equity: | ||
Members' capital | 37,254 | 37,254 |
Additional paid-in-capital | 25 | 25 |
Accumulated deficit | (1,524) | (4,585) |
Total members' equity | 35,755 | 32,694 |
Total liabilities and members' equity | $ 84,709 | $ 90,178 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenues: | ||||
Casino | $ 15,731 | $ 13,526 | $ 31,492 | $ 27,293 |
Food and beverage | 4,473 | 3,675 | 8,413 | 7,236 |
Room | 1,825 | 1,594 | 3,542 | 3,169 |
Other | 814 | 895 | 1,640 | 1,715 |
Gross revenues | 22,843 | 19,690 | 45,087 | 39,413 |
Promotional allowances | (1,851) | (1,616) | (3,584) | (3,185) |
Net revenues | 20,992 | 18,074 | 41,503 | 36,228 |
Operating costs and expenses: | ||||
Casino | 6,482 | 5,978 | 13,022 | 12,350 |
Food and beverage | 3,356 | 2,970 | 6,488 | 5,792 |
Room | 796 | 716 | 1,546 | 1,410 |
Other | 376 | 364 | 731 | 713 |
Selling, general and administrative | 5,599 | 5,381 | 10,804 | 10,305 |
Depreciation and amortization | 1,347 | 1,267 | 2,591 | 2,408 |
(Gain) loss on disposal of assets, net | (136) | (129) | (136) | |
Total operating costs and expenses | 17,956 | 16,540 | 35,053 | 32,842 |
Operating income | 3,036 | 1,534 | 6,450 | 3,386 |
Other expense: | ||||
Interest expense, net | (2,059) | (1,096) | (3,390) | (2,375) |
Net income | $ 977 | $ 438 | $ 3,060 | $ 1,011 |
CONDENSED CONSOLIDATED STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 3,060 | $ 1,011 |
Adjustments to reconcile net income to cash provided by (used in) operating activities: | ||
Depreciation and amortization | 2,591 | 2,408 |
Gain on disposal of assets, net | (129) | (136) |
Amortization of debt discount and debt issuance costs | 1,642 | (469) |
Accrued interest - paid in kind | 2,798 | |
Changes in operating assets and liabilities: | ||
Receivables, net | 17 | (179) |
Inventories and prepaid expenses | 1,318 | (634) |
Accounts payable | 98 | (1,142) |
Accrued payroll and other current liabilities | (195) | 335 |
Other, net | 688 | 1 |
Net cash provided by operating activities | 9,090 | 3,993 |
Cash flows from investing activities: | ||
Capital expenditures | (3,301) | (830) |
Proceeds from sale of property and equipment | 129 | 145 |
Net cash used in investing activities | (3,172) | (685) |
Cash flows from financing activities: | ||
Principal payments on debt | (10,037) | (493) |
Net (decrease)increase in cash and cash equivalents | (4,119) | 2,815 |
Cash and cash equivalents, beginning of period | 13,888 | 9,850 |
Cash and cash equivalents, end of period | 9,769 | 12,665 |
Supplemental cash flow disclosure: | ||
Cash paid for interest | $ 1,748 | $ 46 |
Organization
Organization | 6 Months Ended |
Jun. 30, 2015 | |
Organization | |
Organization | Note 1. Organization ALST Casino Holdco, LLC (the “ Company ,” “ we ,” “ us ” or “ our ”), a Delaware limited liability company, was formed on May 11, 2011. We were formed to acquire substantially all of the equity interests of Aliante Gaming, LLC (“ Aliante Gaming ”) pursuant to its joint plan of reorganization under Chapter 11 of the United States Bankruptcy Code (the “ Bankruptcy Code ”). The reorganization was completed on November 1, 2011 (the “ Effective Date ”), resulting in Aliante Gaming, the owner and operator of the Aliante Casino + Hotel, previously known as Aliante Station Casino + Hotel located in North Las Vegas, Nevada (the “ Casino ”), becoming our wholly owned subsidiary. Prior to the effective date, we conducted no operations and had no material assets or liabilities. Background Prior to the Effective Date, Aliante Gaming was a wholly owned subsidiary of Aliante Holding, LLC (“ Aliante Holding ”), which was a 50/50 joint venture partnership between Aliante Station, LLC (“ Aliante Station ”), a wholly owned subsidiary of Station Casinos, Inc. (“ Old Station ”) and G.C. Aliante, LLC, an affiliate of the Greenspun Corporation. Aliante Gaming experienced lower than expected operating results as a result of macroeconomic conditions, including a downturn in the Las Vegas area and low consumer confidence levels. As a result, Aliante Gaming failed to (i) remain in compliance with certain financial maintenance covenants set forth in its $430.0 million credit facility (the “ Previous Facility ”) and (ii) make scheduled principal or interest payments under the Previous Facility since April 2009. On April 12, 2011 (the “ Petition Date ”), Aliante Gaming, together with Aliante Holding and Aliante Station, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (the “ Chapter 11 Case ”), in the United States Bankruptcy Court for the District of Nevada, Northern Division (the “ Bankruptcy Court ”) to preserve their assets and the value of their estates. The Chapter 11 Case was jointly administered with certain subsidiaries of Old Station and Green Valley Ranch Gaming, LLC under the lead case In re Station Casinos, Inc., et. al. originally filed on July 28, 2009 (Jointly Administered Case No. 09-52477). Old Station emerged from Chapter 11 on June 17, 2011 as Station Casinos LLC (“ New Station ,” and collectively with Old Station, “ Station ”). On May 20, 2011, Aliante Gaming, along with Aliante Holding, Aliante Station and certain other affiliates of Old Station, filed with the Bankruptcy Court an amended joint plan of reorganization (the “ Plan ”) resulting from negotiations with its lenders (the “ Lenders ”) under the Previous Facility and its International Swaps and Derivatives Association master agreement (the “ Swap Agreement ”). Under the Plan, Aliante Gaming and the Lenders agreed to enter into a series of restructuring transactions pursuant to which the Lenders received new equity of, and issued new debt to, Aliante Gaming, as reorganized, as of the Effective Date. On the Effective Date, (i) 100% of the equity interests in Aliante Gaming previously held by Aliante Holding was canceled and ceased to be outstanding, (ii) each Lender received, on account, and in full satisfaction, of its claims against Aliante Gaming arising under the Previous Facility and the Swap Agreement, its pro rata share of (a) 100% of the equity interests in Aliante Gaming (the “ New Aliante Equity ”), which was contributed to the Company in exchange for 432,003 units of our issued and outstanding membership interests (“ Common Units ”) and (b) 100% of $45.0 million in aggregate principal amount of senior secured term loans of Aliante Gaming (the “ Senior Secured Loans ”) under a new senior secured credit facility (the “ Senior Secured Credit Facility ”), (iii) the Previous Facility and the Swap Agreement were canceled (clauses (i), (ii) and (iii) referred to herein as the “ Restructuring Transactions ”) and (iv) each creditor holding an unsecured claim was paid in full. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Summary of Significant Accounting Policies | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. general accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year-ended December 31, 2014, filed with the Securities and Exchange Commission. Principles of Consolidation The accompanying condensed consolidated financial statements include the Company and its wholly owned subsidiary, Aliante Gaming. All material intercompany transactions are eliminated in consolidation. Fair Value of Financial Instruments The estimated fair value of the Company’s financial instruments has been determined by the Company using available market information and valuation methodologies. However, considerable judgment is required to develop the estimates of fair value; thus, the estimates provided herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The carrying amounts of cash, receivables, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-9, (Topic 606): Revenue from Contracts with Customers (“ASU No. 2014-9”). ASU No. 2014-9 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of certain nonfinancial assets. ASU No. 2014-9 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. Early application is not permitted. Management is currently assessing the impact of the adoption of this accounting pronouncement on the Company’s condensed consolidated financial statements in future periods. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements — Going Concern — Disclosure of Uncertainties about an Entity’s Ability to continue as a Going Concern (Subtopic 205-40). ASU No. 2014-15 requires management to provide an interim and annual assessment concerning an entity’s ability to continue as a going concern, and also requires disclosures under certain circumstances. ASU No. 2014-15 is effective for fiscal years beginning after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. It is currently management’s intent to adopt this accounting pronouncement upon the effective date. On April 1, 2015, the FASB proposed deferring the effective date of ASU No. 2014-15 by one year to December 15, 2017 for annual reporting periods beginning after that date. The FASB also proposed permitting early adoption of the standard, but not before the original effective of December 31, 2016. Management is currently assessing the impact of the adoption of this accounting pronouncement on the Company’s consolidated financial statements in future periods. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30), which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is effective for fiscal years beginning after December 15, 2015, and for annual periods and interim periods thereafter. Early application is permitted. It is currently management’s intent to adopt this accounting pronouncement upon the effective date. No other new accounting pronouncements issued or effective during this period have or are expected to have a material impact on the Company’s financial position or results of operations. A variety of proposed or otherwise potential accounting standards are currently under review and study by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of any such proposed or revised standards would have on our consolidated financial statements. |
Receivables
Receivables | 6 Months Ended |
Jun. 30, 2015 | |
Receivables | |
Receivables | Note 3. Receivables Receivables, net consist of the following (in thousands): June 30, December 31, 2015 2014 (unaudited) Casino $ $ Hotel Other Allowance for doubtful accounts ) ) Receivables, net $ $ |
Long-term Debt
Long-term Debt | 6 Months Ended |
Jun. 30, 2015 | |
Long-term Debt | |
Long-term Debt | Note 4. Long-term Debt Long-term debt consists of the following (in thousands): June 30, 2015 December 31, 2014 (unaudited) Senior Secured Credit Facility, interest payable quarterly (paid in kind at 10%, cash interest at 6%), principal due November 1, 2018, net of unamortized discount at June 30, 2015 and December 31, 2014 of $6.4 million and $8.0 million, respectively (related party) $ $ Special Improvement District assessment, payable in 32 semi-annual installments including interest at a fixed rate of 5.8% Long-term debt Less current portion of long-term debt ) ) Long-term debt, net $ $ Senior Secured Credit Facility (Related Party) On November 1, 2011, the Company and Aliante Gaming entered into the Senior Secured Credit Facility, which provided for $45.0 million in principal amount of Senior Secured Loans, which were deemed made on the same date without any funding being provided. The Senior Secured Credit Facility represented an already outstanding obligation of Aliante Gaming as of November 1, 2011 and provided for interest to be paid at a rate to be elected by Aliante Gaming, such rate being either (i) 10% per annum, payable in kind and added to the principal amount of the Senior Secured Loans quarterly in arrears and subsequently treated as principal of the Senior Secured Loans, or (ii) 6% per annum, which interest will be payable in cash quarterly in arrears. The outstanding principal amount of the Senior Secured Loans and all accrued and unpaid interest thereon will be payable on the maturity date, which shall be the earlier of November 1, 2018 or the acceleration of the Senior Secured Loans in accordance with the terms of the Senior Secured Credit Facility. The Senior Secured Loans may be prepaid in certain minimum amounts without the payment of any prepayment premium or fee. Effective June 30, 2014 Aliante Gaming elected the cash payment option with accrued interest being payable in kind through June 30, 2014. As a result of accruing interest through June 30, 2014 in kind, the principal outstanding balance as of June 30, 2015 and 2014 was $48.5 million and $58.5 million, respectively. The Senior Secured Credit Facility is guaranteed by the Company and by each domestic wholly owned subsidiary of Aliante Gaming and is secured by a first-priority (a) pledge of 100% of the Company’s equity interest in Aliante Gaming, (b) pledge of 100% of the equity interests in Aliante Gaming’s domestic subsidiaries (if any) and 65% of the equity interests of Aliante Gaming’s “first-tier” foreign subsidiaries (if any) and (c) security interest in substantially all of Aliante Gaming’s tangible and intangible assets, as well as those of each subsidiary guarantor (if any), in each case, other than any assets that may not be pledged pursuant to applicable gaming laws and subject to customary exceptions. The Senior Secured Credit Facility includes various covenants and mandatory prepayments which are customary for similar types of financings and does not contain any financial maintenance covenants. Prior to the second quarter of 2014, the Company elected to pay interest under the Senior Secured Credit Facility in kind at a rate of 10% per annum. During the second quarter of 2014, the Company elected the cash interest option at 6% per annum. As a result of this change in the expected method of payment, the Company recorded an adjustment to its accrual during the second quarter of 2014 to decrease interest expense by $0.2 million using the retrospective approach. During the second quarter 2015, the Board of Managers authorized two $5 million principal payments on the Senior Secured Credit Facility which were paid on June 11, 2015 and June 30, 2015. As a result of these payments, the Company recorded an adjustment during the second quarter of 2015 to increase interest expense by $0.7 million using the retrospective approach. Under the retrospective approach, a new effective interest rate is computed to reflect the modified estimated cash flows as if such modified cash flows were known at inception. The carrying amount is adjusted to reflect the amount that would have been presented had the adjusted effective rate been applied since inception. Fair Value of Debt It was not practicable to determine the fair market value of the Senior Secured Credit Facility due to the lack of comparable credit facilities and the involvement of our majority shareholders in negotiating the terms and conditions directly with the lender. The fair value of our special assessment debt approximates fair value. |
Summary of Significant Account9
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Summary of Significant Accounting Policies | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. general accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year-ended December 31, 2014, filed with the Securities and Exchange Commission. |
Principles of Consolidation | Principles of Consolidation The accompanying condensed consolidated financial statements include the Company and its wholly owned subsidiary, Aliante Gaming. All material intercompany transactions are eliminated in consolidation. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The estimated fair value of the Company’s financial instruments has been determined by the Company using available market information and valuation methodologies. However, considerable judgment is required to develop the estimates of fair value; thus, the estimates provided herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The carrying amounts of cash, receivables, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-9, (Topic 606): Revenue from Contracts with Customers (“ASU No. 2014-9”). ASU No. 2014-9 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of certain nonfinancial assets. ASU No. 2014-9 is effective for fiscal years beginning after December 15, 2018, including interim periods within that reporting period. Early application is not permitted. Management is currently assessing the impact of the adoption of this accounting pronouncement on the Company’s condensed consolidated financial statements in future periods. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements — Going Concern — Disclosure of Uncertainties about an Entity’s Ability to continue as a Going Concern (Subtopic 205-40). ASU No. 2014-15 requires management to provide an interim and annual assessment concerning an entity’s ability to continue as a going concern, and also requires disclosures under certain circumstances. ASU No. 2014-15 is effective for fiscal years beginning after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. It is currently management’s intent to adopt this accounting pronouncement upon the effective date. On April 1, 2015, the FASB proposed deferring the effective date of ASU No. 2014-15 by one year to December 15, 2017 for annual reporting periods beginning after that date. The FASB also proposed permitting early adoption of the standard, but not before the original effective of December 31, 2016. Management is currently assessing the impact of the adoption of this accounting pronouncement on the Company’s consolidated financial statements in future periods. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30), which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is effective for fiscal years beginning after December 15, 2015, and for annual periods and interim periods thereafter. Early application is permitted. It is currently management’s intent to adopt this accounting pronouncement upon the effective date. No other new accounting pronouncements issued or effective during this period have or are expected to have a material impact on the Company’s financial position or results of operations. A variety of proposed or otherwise potential accounting standards are currently under review and study by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of any such proposed or revised standards would have on our consolidated financial statements. |
Receivables (Tables)
Receivables (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables | |
Schedule of Receivables, net | Receivables, net consist of the following (in thousands): June 30, December 31, 2015 2014 (unaudited) Casino $ $ Hotel Other Allowance for doubtful accounts ) ) Receivables, net $ $ |
Long-term Debt (Tables)
Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Long-term Debt | |
Schedule of long-term debt | Long-term debt consists of the following (in thousands): June 30, 2015 December 31, 2014 (unaudited) Senior Secured Credit Facility, interest payable quarterly (paid in kind at 10%, cash interest at 6%), principal due November 1, 2018, net of unamortized discount at June 30, 2015 and December 31, 2014 of $6.4 million and $8.0 million, respectively (related party) $ $ Special Improvement District assessment, payable in 32 semi-annual installments including interest at a fixed rate of 5.8% Long-term debt Less current portion of long-term debt ) ) Long-term debt, net $ $ |
Organization (Details)
Organization (Details) - USD ($) $ in Millions | Nov. 01, 2011 | Oct. 31, 2011 | Apr. 12, 2011 |
Senior Secured Loans | |||
Organization disclosures | |||
Principal amount of Senior Secured Loans | $ 45 | ||
Aliante Station | |||
Organization disclosures | |||
Ownership percentage of Aliante Holding prior to the effective date | 50.00% | ||
G. C. Aliante | |||
Organization disclosures | |||
Ownership percentage of Aliante Holding prior to the effective date | 50.00% | ||
Aliante Holding | Plan | |||
Organization disclosures | |||
Equity interest canceled and ceased | 100.00% | ||
Aliante Gaming | |||
Organization disclosures | |||
Equity interest (as a percent) | 100.00% | ||
Membership interests issued in exchange for equity interests (in shares) | 432,003 | ||
Aliante Gaming | Plan | Senior Secured Credit Facility | |||
Organization disclosures | |||
Amount of credit facility | $ 430 | ||
Aliante Gaming | Plan | Senior Secured Loans | |||
Organization disclosures | |||
Percentage of principal amount of Senior Secured Loans | 100.00% | ||
Principal amount of Senior Secured Loans | $ 45 |
Receivables (Details)
Receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Receivables | ||
Receivable, gross | $ 1,259 | $ 1,266 |
Allowance for doubtful accounts | (39) | (29) |
Receivables, net | 1,220 | 1,237 |
Casino | ||
Receivables | ||
Receivable, gross | 108 | 127 |
Hotel | ||
Receivables | ||
Receivable, gross | 328 | 190 |
Other | ||
Receivables | ||
Receivable, gross | $ 823 | $ 949 |
Long-term Debt (Details)
Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Long-term debt | ||
Long-term debt | $ 42,866 | $ 51,299 |
Less current portion of long-term debt | (79) | (76) |
Long-term debt, net | 42,787 | 51,223 |
Senior Secured Credit Facility | ||
Long-term debt | ||
Long-term debt | 42,152 | 50,547 |
Special Improvement District assessment | ||
Long-term debt | ||
Long-term debt | $ 714 | $ 752 |
Long-term Debt (Details 2)
Long-term Debt (Details 2) $ in Millions | Jun. 30, 2015USD ($) | Jun. 11, 2015USD ($) | Nov. 01, 2011USD ($) | Jun. 30, 2015USD ($)payment | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)payment | Dec. 31, 2014USD ($)payment | Mar. 31, 2014 |
Senior Secured Credit Facility | ||||||||
Long-term debt | ||||||||
Unamortized discount | $ 6.4 | $ 6.4 | $ 6.4 | $ 8 | ||||
Frequency of payments | quarterly | quarterly | ||||||
Outstanding amount | $ 48.5 | $ 48.5 | $ 58.5 | $ 48.5 | ||||
Percentage of Aliante Gaming pledged as security | 100.00% | 100.00% | 100.00% | |||||
Percentage of domestic subsidiaries of Aliante Gaming pledged as security | 100.00% | 100.00% | 100.00% | |||||
Percentage of foreign subsidiaries of Aliante Gaming pledged as security | 65.00% | 65.00% | 65.00% | |||||
Number of principal payments authorized | payment | 2 | |||||||
Debt instrument principal payment | $ 5 | $ 5 | ||||||
Adjustment to increase (decrease) interest expense | $ 0.7 | $ (0.2) | ||||||
Senior Secured Credit Facility | Payment in kind | ||||||||
Long-term debt | ||||||||
Fixed interest rate (as percentage) | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |||
Senior Secured Credit Facility | Cash Payments In Arrears | ||||||||
Long-term debt | ||||||||
Fixed interest rate (as percentage) | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | |||
Senior Secured Loans | ||||||||
Long-term debt | ||||||||
Principal amount of Senior Secured Loans | $ 45 | |||||||
Special Improvement District assessment | ||||||||
Long-term debt | ||||||||
Fixed interest rate (as percentage) | 5.80% | 5.80% | 5.80% | 5.80% | ||||
Frequency of payments | semi-annual | semi-annual | ||||||
Number of periodic payments required | payment | 32 | 32 |