Nevada Gold & Casinos (UWN) 10-Q 16 Mar 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jan. 31, 2016	Mar. 01, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	NEVADA GOLD & CASINOS INC
Entity Central Index Key	277,058
Current Fiscal Year End Date	--04-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	UWN
Entity Common Stock, Shares Outstanding		17,763,856

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Current assets:
Cash and cash equivalents	$ 8,822,156	$ 8,541,670
Restricted cash	1,525,803	1,724,439
Accounts receivable, net of allowances	768,163	297,316
Prepaid expenses	1,603,449	845,505
Deferred tax asset, current portion	882,394	863,366
Notes receivable, current portion	411,370	384,464
Inventory and other current assets	1,027,181	377,625
Total current assets	15,040,516	13,034,385
Real estate held for sale	1,100,000	1,100,000
Notes receivable, net of current portion	849,059	1,314,467
Goodwill	18,860,059	16,103,583
Intangible assets, net of accumulated amortization of $7,678,862 and $6,811,799 at January 31, 2016 and April 30, 2015, respectively	5,316,520	4,561,377
Property and equipment, net of accumulated depreciation of $5,143,361 and $4,451,553 at January 31, 2016 and April 30, 2015, respectively	15,431,612	3,990,791
Deferred tax asset, net of current portion	1,875,176	2,706,430
Other assets	267,567	331,980
Total assets	58,740,509	43,143,013
Current liabilities:
Accounts payable and accrued liabilities	1,478,394	1,222,139
Accrued payroll and related	1,365,751	1,581,557
Accrued player's club points and progressive jackpots	1,945,031	1,993,537
Total current liabilities	4,789,176	4,797,233
Long-term debt	18,594,044	7,350,000
Other long-term liabilities	814,777	570,717
Total liabilities	24,197,997	12,717,950
Stockholders' equity:
Common stock, $0.12 par value per share; 50,000,000 shares authorized; 18,526,693 and 17,134,928 shares issued and 17,743,856 and 16,352,091 shares outstanding at January 31, 2016, and April 30, 2015, respectively	2,223,212	2,056,200
Additional paid-in capital	27,253,193	24,845,094
Retained earnings	11,998,142	10,455,804
Treasury stock, 782,837 shares at January 31, 2016 and April 30, 2015, respectively, at cost	(6,932,035)	(6,932,035)
Total stockholders' equity	34,542,512	30,425,063
Total liabilities and stockholders' equity	$ 58,740,509	$ 43,143,013

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Intangible assets, net of accumulated amortization	$ 7,678,862	$ 6,811,799
Property and equipment, accumulated depreciation	$ 5,143,361	$ 4,451,553
Common stock, par value	$ 0.12	$ 0.12
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	18,526,693	17,134,928
Common stock, shares outstanding	17,743,856	16,352,091
Treasury stock, shares	782,837	782,837

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Revenues:
Casino	$ 16,217,164	$ 13,821,745	$ 44,578,057	$ 42,400,880
Food and beverage	3,294,142	2,672,738	8,216,330	7,601,608
Other	529,568	432,329	1,437,452	1,334,215
Gross revenues	20,040,874	16,926,812	54,231,839	51,336,703
Less promotional allowances	(1,680,127)	(1,122,522)	(3,794,103)	(3,251,269)
Net revenues	18,360,747	15,804,290	50,437,736	48,085,434
Expenses:
Casino	8,166,630	7,338,366	24,074,390	23,733,827
Food and beverage	1,710,461	1,391,532	4,318,491	4,033,675
Other	94,500	72,804	223,035	210,032
Marketing and administrative	4,823,503	4,396,240	13,145,912	12,801,575
Facility	524,892	509,723	1,510,113	1,526,237
Corporate	1,121,138	675,846	2,612,247	1,814,505
Depreciation and amortization	739,699	553,910	1,739,202	1,643,565
(Gain) loss on sale of assets	(2,271)	24,613	(163,702)	41,700
Total operating expenses	17,178,552	14,963,034	47,459,688	45,805,116
Operating income	1,182,195	841,256	2,978,048	2,280,318
Non-operating income (expenses):
Interest income	22,794	29,066	73,424	90,583
Interest expense and amortization of loan issue costs	(187,894)	(127,035)	(401,514)	(453,337)
Interest rate swap expense	(21,006)	(19,495)	(51,332)	(60,960)
Change in swap fair value	(246,146)	(35,383)	(244,062)	(37,729)
Write-off of marketable securities	0	0	0	(7,539)
Income before income tax expense	749,943	688,409	2,354,564	1,811,336
Income tax expense	(283,592)	(240,301)	(812,226)	(593,131)
Net income	$ 466,351	$ 448,108	$ 1,542,338	$ 1,218,205
Per share information:
Net income per common share - basic	$ 0.03	$ 0.03	$ 0.09	$ 0.08
Net income per common share - diluted	$ 0.03	$ 0.03	$ 0.09	$ 0.07

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net income available to common shareholders	$ 1,542,338	$ 1,218,205
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,739,202	1,643,565
Change in deferred income taxes	812,226	593,133
Amortization of deferred debt issuance costs	104,329	67,566
Stock-based compensation	140,669	84,851
(Gain) loss on sale of assets	(163,702)	41,700
Write-off of licensing costs	54,729	0
Write-off of marketable securities	0	7,539
Amortization of deferred rent	24,502	4,067
Change in swap fair value	244,062	37,729
Other	1,524	906
Changes in operating assets and liabilities:
Restricted cash	198,636	(144,847)
Receivables and other assets	(1,432,555)	(372,534)
Accounts payable and accrued liabilities	(656,293)	394,549
Net cash provided by operating activities	2,609,667	3,576,429
Cash flows from investing activities:
Purchase of property and equipment	(400,742)	(627,674)
Collections on notes receivable	438,502	270,500
Club Fortune acquisition, net of cash acquired	(13,840,967)	0
Capitalized licensing costs	(96,935)	0
Proceeds from the sale of assets	305,820	1,125
Net cash used in investing activities	(13,594,322)	(356,049)
Cash flows from financing activities:
Repayment of credit facilities	(4,110,000)	(3,550,000)
Employee stock plan purchases	41,810	41,189
Repayment of capital lease	(170,391)	(10,590)
Proceeds from credit facilities	15,500,000	0
Payment of loan costs	(186,528)	0
Cash proceeds from exercise of stock options	190,250	14,700
Net cash provided by (used in) financing activities	11,265,141	(3,504,701)
Net increase (decrease) in cash and cash equivalents	280,486	(284,321)
Cash and cash equivalents at beginning of period	8,541,670	7,738,985
Cash and cash equivalents at end of period	8,822,156	7,454,664
Supplemental cash flow information:
Cash paid for interest	310,786	456,478
Non-cash investing and financing activities:
Issuance of stock to finance Club Fortune acquisition	2,202,382	0
Acquisition of equipment via capital lease	$ 0	$ 38,282

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim financial information included herein is unaudited. However, the accompanying condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary to present fairly our condensed consolidated balance sheets at January 31, 2016 and April 30, 2015, condensed consolidated statements of operations for the three and nine months ended January 31, 2016 and 2015, and condensed consolidated statements of cash flows for the nine months ended January 31, 2016 and 2015. Although we believe the disclosures in these financial statements are adequate to make the interim information presented not misleading, certain information relating to our organization and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted in this Form 10-Q pursuant to Securities and Exchange Commission (“SEC”) rules and regulations. These financial statements should be read in conjunction with the audited consolidated financial statements for the year ended April 30, 2015 and the notes thereto included in our Annual Report on Form 10-K. The results of operations for the three and nine months ended January 31, 2016 are not necessarily indicative of the results expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and disclosure of contingent liabilities. On an ongoing basis, we evaluate our estimates, including those related to bad debts, investments, intangible assets and goodwill, property, plant and equipment, income taxes, employment benefits and contingent liabilities. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Certain reclassifications have been made to conform prior year financial information to the current period presentation. Property taxes of $ 104,510 248,308

Critical Accounting Policies

Critical Accounting Policies	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Critical Accounting Policies	Note 2. Critical Accounting Policies We record revenues from casino operations on the accrual basis as earned. The retail value of food and beverage and other services furnished to guests without charge is included in gross revenue and deducted as promotional allowances. Net revenues do not include the retail amount of food, beverage and other items provided gratuitously to customers. We record the redemption of coupons and points for cash as a reduction of revenue as they are earned. These amounts are included in promotional allowances in the accompanying condensed consolidated statements of operations. Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2016 2015 2016 2015 Food and beverage $ 1,170,089 $ 808,941 $ 2,750,283 $ 2,401,566 Other 46,205 39,228 112,000 107,720 Total cost of complimentary services $ 1,216,294 $ 848,169 $ 2,862,283 $ 2,509,286 U.S. generally accepted accounting principles defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are as follows: Level 1 – Observable inputs such as quoted prices in active markets at the measurement date for identical, unrestricted assets or liabilities. Level 2 – Other inputs that are observable directly or indirectly such as quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 – Unobservable inputs for which there is little or no market data and which we make our own assumptions about how market participants would price the assets and liabilities. The following describes the valuation methodologies used by us to measure fair value: Real estate held for sale is recorded at fair value less selling costs. Goodwill and indefinite lived intangible assets are recorded at carrying value and tested for impairment annually, or more frequently, using projections of discounted future cash flows. Interest rate swaps are adjusted on a recurring basis pursuant to accounting standards for fair value measurements. We categorize our interest rate swap as Level 2 for fair value measurement. Financial instruments that potentially subject us to concentrations of credit risk are primarily notes receivable, cash and cash equivalents, accounts receivable and payable, and long term debt. Management performs periodic evaluations of the collectability of these notes and accounts receivable. Our cash deposits are held with large, well-known financial institutions, and, at times, such deposits may be in excess of the federally insured limit. The recorded value of cash, accounts receivable and payable, approximate fair value based on their short term nature; the recorded value of long term debt approximates fair value as interest rates approximate current market rates. In February 2016, the Financial Accounting Standards Board (“FASB”) issued amended accounting guidance that changes the accounting for leases and requires expanded disclosures about leasing activities. Under the new guidance, lessees will be required to recognize a right-of-use asset and a lease liability, measured on a discounted basis, at the commencement date for all leases with terms greater than twelve months. Lessor accounting will remain largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The amended guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2018, and early application is permitted. The Company is currently evaluating the impact this guidance will have on its financial position and results of operations. In November 2015, the FASB issued final guidance that requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company expects to adopt this guidance in the fourth quarter of fiscal 2016. The adoption will have no effect on the Company's results of operations. In April 2015, the FASB issued amended accounting guidance that changes the balance sheet presentation of debt issuance costs. Under the amended guidance, debt issuance costs will be presented on the balance sheet as a direct deduction from the related debt liability rather than as an asset. In August 2015, the FASB issued Update 2015-15, which further clarifies the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. Debt issuance costs related to line-of-credit of arrangements can be recorded as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. For public companies, the new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 (including interim periods within those fiscal years), and is required to be applied on a retrospective basis. Early adoption is permitted. The Company expects to adopt this guidance in the first quarter of fiscal 2017. The adoption will have no effect on the Company's results of operations. In May 2014, the FASB issued a new accounting standard for revenue recognition which requires entities to recognize revenue when it transfers promised goods or services to customers, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard supersedes the existing accounting guidance for revenue recognition, including industry-specific guidance, and amends certain accounting guidance for recognition of gains and losses on the transfer of non-financial assets. For public companies, the new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017. Early application is permitted for annual reporting periods beginning after December 15, 2016 (including interim periods within those periods). Upon adoption, financial statement issuers may elect to apply the new standard either retrospectively to each prior reporting period presented, or using a modified retrospective approach by recognizing the cumulative effect of initial application and providing certain additional disclosures. The Company will adopt this guidance in the first quarter of 2018. The Company is currently evaluating the impact this guidance will have on its financial position and results of operations, and has not yet determined which adoption method it will elect. In April 2014, the FASB issued amended accounting guidance that changes the criteria for reporting discontinued operations and expands the related disclosure requirements. This guidance is effective in the first quarter of our fiscal year 2016. The Company adopted this guidance during the first quarter of fiscal year 2016 with no material impact on our financial position or results of operations. The Golden Nugget casino was not considered a significant component of the Company and therefore the sale was not treated as discontinued operations. See Goodwill and Intangible Assets footnote. A variety of proposed or otherwise potential accounting guidance is currently under study by standard-setting organizations and certain regulatory agencies. Due to the tentative and preliminary nature of such proposed accounting guidance, the Company has not yet determined the effect, if any, that the implementation of such proposed accounting guidance would have on its condensed consolidated financial statements.

Restricted Cash

Restricted Cash	9 Months Ended
	Jan. 31, 2016
Restricted Cash and Investments [Abstract]
Restricted Cash	Note 3. Restricted Cash As of January 31, 2016 and April 30, 2015, we maintained $ 1,525,803 1,724,439

Notes Receivable

Notes Receivable	9 Months Ended
	Jan. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Notes Receivable	Note 4. Notes Receivable As of January 31, 2016 and April 30, 2015, we had net notes receivable of $ 1,260,429 1,698,931 G Investments, LLC Upon completion of the sale of the Colorado Grande Casino on May 25, 2012, we recorded a $ 2,325,000 6 June 1, 2017 As of January 31, 2016, the remaining principal and interest payments are scheduled to be made as follows: · Beginning February 1, 2016, sixteen monthly installments of principal and accrued interest of $ 40,000 · A final installment of $ 743,302 June 1, 2017 Through January 31, 2016, GI has timely made required principal and interest payments.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5. Goodwill and Intangible Assets In connection with our acquisitions of the Washington mini-casinos on May 12, 2009, July 23, 2010 and July 18, 2011, the South Dakota Gold slot route on January 27, 2012, and the Club Fortune Casino in Nevada on December 1, 2016 (see Acquisition of Club Fortune Casino footnote), we have goodwill and intangible assets of $ 24,176,579 74,958 Other intangible Total Goodwill assets, net Balance as of April 30, 2015 $ 20,664,960 $ 16,103,583 $ 4,561,377 Current year amortization (867,063) - (867,063) Gaming license 42,206 - 42,206 Acquisition of Club Fortune 4,411,434 2,831,434 1,580,000 Sale of Golden Nugget (74,958) (74,958) - Balance as of January 31, 2016 $ 24,176,579 $ 18,860,059 $ 5,316,520 Other intangible Total Goodwill assets, net Washington $ 16,951,820 $ 14,092,154 $ 2,859,666 South Dakota 2,407,899 1,936,471 471,428 Nevada 4,385,799 2,831,434 1,554,365 Corporate 431,061 - 431,061 Balance as of January 31, 2016 $ 24,176,579 $ 18,860,059 $ 5,316,520 Gross Carrying Accumulated Amount Amortization Net Customer relationships $ 8,673,321 $ (6,403,751) $ 2,269,570 Non-compete agreements 1,379,000 (1,275,111) 103,889 State gaming license 431,061 - 431,061 Trade names 2,512,000 - 2,512,000 Total $ 12,995,382 $ (7,678,862) $ 5,316,520 7.0 3.0 Period Amount February 2016-January 2017 $ 977,099 February 2017-January 2018 612,509 February 2018-January 2019 334,803 February 2019-January 2020 117,143 February 2020-January 2021 117,143 Thereafter 214,762 Total $ 2,373,459

Other Assets

Other Assets	9 Months Ended
	Jan. 31, 2016
Other Assets [Abstract]
Other Assets	Note 6. Other Assets January 31, 2016 April 30, 2015 Debt issuance costs, net $ 197,567 $ 261,323 Other 70,000 70,657 Other assets $ 267,567 $ 331,980 Debt issuance costs not paid directly to the lender are capitalized and amortized using the effective interest rate method over the expected terms of the related debt agreements and are included in other assets on our condensed consolidated balance sheets.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Note 7. Long-Term Debt January 31, April 30, 2016 2015 $23.0 million reducing revolving credit agreement, less discount discount of $145,956, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining $11,125,000 principal due on the maturity date of November 30, 2020. $ 18,594,044 $ 7,350,000 Less: current portion - - Total long-term financing obligations $ 18,594,044 $ 7,350,000 On November 30, 2015, the Company amended its existing credit agreement with Mutual of Omaha Bank to increase the lending commitment to $ 23 LIBOR plus an Applicable Margin 4.422 50 February 1, 2016 – January 31, 2017 $ - February 1, 2017 – January 31, 2018 1,365,000 February 1, 2018 – January 31, 2019 2,500,000 February 1, 2019 – January 31, 2020 2,500,000 February 1, 2020 – November 30, 2020 12,375,000 Total payments 18,740,000 Unamortized debt discount (145,956) Total long-term debt $ 18,594,044 The unamortized debt discount above consists of debt costs paid directly to the lender. The discount is amortized over the period of the Credit Facility through interest expense. During the current quarter, we paid $ 2.0 3.6 The Credit Facility contains customary covenants for a facility of this nature, including, but not limited to, covenants requiring the preservation and maintenance of the Company’s assets and covenants restricting our ability to merge, transfer ownership, incur additional indebtedness, encumber assets and make certain investments. The Credit Facility also contains covenants requiring the Company to maintain certain financial ratios including a maximum total leverage ratio ranging from 3.00 1.00 2.75 1.00 2.50 1.00 1.15 1.00

Interest Rate Swap

Interest Rate Swap	9 Months Ended
	Jan. 31, 2016
Interest Rate Swap [Abstract]
Interest Rate Swap	Note 8. Interest Rate Swap We are required by the Credit Facility to have a secured interest rate swap for at least 50% of the Credit Facility commitment. On December 28, 2015, the Company entered into a swap transaction with Mutual of Omaha Bank (“MOOB”), which has a calculation period as of the tenth day of each month through the maturity date of the Credit Facility. As of January 31, 2016, the Company had one outstanding interest rate swap with MOOB with a notional amount of $ 11,187,500 1.77 5.77 0.4238 The Company did not designate the interest rate swap as a cash flow hedge and the interest rate swap did not qualify for hedge accounting under ASC Topic 815. Changes in our interest rate swap fair value are recorded in our condensed consolidated statements of operations. Each quarter, the Company receives fair value statements from the counterparty, MOOB. The fair value of the interest rate swap is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including forward interest rate curves. To comply with the provisions of ASC Topic 820, Fair Value Measurements and Disclosures, the Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As a result of our evaluation of our interest rate swap as of January 31, 2016, we recorded a $ 246,146 313,013

Equity Transactions and Stock O

Equity Transactions and Stock Option Plans	9 Months Ended
	Jan. 31, 2016
Share-Based Compensation [Abstract]
Equity Transactions and Stock Option Plans	Note 9. Equity Transactions and Stock Option Plans We have obligations under two employee stock plans: (1) the 2009 Equity Incentive Plan (the “2009 Plan”), and (2) the 2010 Employee Stock Purchase Plan, as amended (the “2010 Plan”). The 2009 Plan On April 14, 2009, our shareholders approved the 2009 Plan providing for the granting of awards to our directors, officers, employees and independent contractors. The number of common stock shares reserved for issuance under the 2009 Plan is 1,750,000 · Stock Options including Incentive Stock Options (“ISO”), · Options not intended to qualify as ISOs, · Stock Appreciation Rights, and · Restricted Stock Grants. Our practice has been to issue new or treasury shares upon the exercise of stock options. Stock option rights granted under the 2009 Plan generally have 5 or 10 year terms and vest in two or three equal annual installments, with some options grants providing for immediate vesting for a portion of the grant. On October 12, 2015, the Committee granted stock to the board of directors as part of a revision of director compensation with $ 10,000 5,000 12,600 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term (Year) Value Outstanding at April 30, 2015 895,000 $ 1.08 Granted - Exercised (145,000) $ 1.31 Forfeited or expired - Outstanding at January 31, 2016 750,000 $ 1.09 6.50 $ 819,500 Exercisable at January 31, 2016 650,000 $ 1.07 6.20 $ 724,500 Available for grant at January 31, 2016 672,400 As of January 31, 2016, there was a total of $ 70,705 0.6 Compensation cost for stock options granted is based on the fair value of each award, measured by applying the Black-Scholes model on the date of grant and using the weighted-average assumptions of (i) expected volatility, (ii) expected term, (iii) expected dividend yield, (iv) risk-free interest rate and (v) forfeiture rate. Expected volatility is based on historical volatility of our stock. The expected term considers the contractual term of the option as well as historical exercise and forfeiture behavior. The risk-free interest rate is based on the rates in effect on the grant date for U.S. Treasury instruments with maturities matching the relevant expected term of the award. The 2010 Plan On October 11, 2010, our shareholders approved the 2010 Plan which permits all our eligible employees, including employees of certain of our subsidiaries, to purchase shares of our common stock through payroll deductions at a purchase price not to be less than 90 500,000 20 430,704

Stock Offering and Warrants

Stock Offering and Warrants	9 Months Ended
	Jan. 31, 2016
Stock Offering and Warrants [Abstract]
Stock Offering and Warrants	Note 10. Stock Offering and Warrants On November 7, 2011, we closed on the sale of 2,625,652 1.65 4,300,000 444,000 0.75 2.18 5,100,000

Computation of Earnings Per Sha

Computation of Earnings Per Share	9 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Computation of Earnings Per Share Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2016 2015 2016 2015 Numerator: Basic and Diluted: Net income available to common shareholders $ 466,351 $ 448,108 $ 1,542,338 $ 1,218,205 Denominator: Basic weighted average number of common shares outstanding 17,349,217 16,225,562 16,751,944 16,212,916 Dilutive effect of common stock options and warrants 295,509 285,807 260,266 161,937 Diluted weighted average number of common shares outstanding 17,644,726 16,511,369 17,012,210 16,374,853 Net income per common share - basic $ 0.03 $ 0.03 $ 0.09 $ 0.08 Net income per common share - diluted $ 0.03 $ 0.03 $ 0.09 $ 0.07

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Period Corporate Nevada Washington South Total February 2016-January 2017 $ 47,554 $ 10,200 $ 2,986,299 $ 55,200 $ 3,099,253 February 2017-January 2018 - 5,950 3,032,848 - 3,038,798 February 2018-January 2019 - 3,074,146 - 3,074,146 February 2019-January 2020 - 2,548,842 - 2,548,842 February 2020-January 2021 - 2,419,444 - 2,419,444 Thereafter - 2,079,325 - 2,079,325 $ 47,554 $ 16,150 $ 16,140,904 $ 55,200 $ 16,259,808 We continue to pursue additional development opportunities that may require, individually and in the aggregate, significant commitments of capital, extensions of credit, up-front payments to third parties and guarantees by us of third-party debt. We indemnified our officers and directors for certain events or occurrences while the director or officer is or was serving at our request in such capacity. The maximum potential amount of future payments we could be required to make under these indemnification obligations is unlimited; however, we have a Directors and Officers Liability Insurance policy that limits our exposure and enables us to recover a portion of any future amounts paid, provided that such insurance policy provides coverage.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 13. Income Taxes For the three months ended January 31, 2016 and 2015, our effective income tax rates were 36 35 34 33 34 At January 31, 2016, we have $ 2.8 7.8 We filed income tax returns in the United States federal jurisdiction. No jurisdiction is currently examining our tax filings for any tax years. All of the Company’s tax positions are considered more-likely-than-not to be sustained upon an IRS examination.

Segment Reporting

Segment Reporting	9 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Note 14. Segment Reporting We have three business segments and Corporate: (i) Washington, (ii) South Dakota and (iii) Nevada. For the three and nine month periods ended January 31, 2016, the Washington segment consists of the Washington mini-casinos, the South Dakota segment consists of our slot route operation in South Dakota, Nevada segment consists of Club Fortune casino (see Acquisition of Club Fortune Casino footnote) and the Corporate column includes the vacant land in Colorado and its taxes and maintenance expenses. The Corporate column also includes corporate-related items, results of insignificant operations, and segment loss and income and expenses not allocated to other reportable segments. As of and for the Three Months Ended January 31, 2016 Washington South Nevada Corporate Total Net revenue $ 14,647,144 $ 1,334,391 $ 2,379,212 $ - $ 18,360,747 Casino and food and beverage expense 7,254,960 1,292,036 1,330,095 - 9,877,091 Marketing and administrative expense 4,093,537 63,714 666,252 - 4,823,503 Facility, corporate and other expenses 521,844 41,685 55,863 1,121,138 1,740,530 Depreciation and amortization 340,034 156,209 240,360 3,096 739,699 Operating income (loss) 2,434,944 (220,456) 91,941 (1,124,234) 1,182,195 Assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 112,167 3,679 7,413 - 123,259 As of and for the Three Months Ended January 31, 2015 Washington South Nevada Corporate Total Net revenue $ 14,356,584 $ 1,446,706 - $ 1,000 $ 15,804,290 Casino and food and beverage expense 7,414,083 1,315,816 - - 8,729,899 Marketing and administrative expense 4,306,962 89,278 - - 4,396,240 Facility, corporate and other expenses 549,778 31,787 - 676,808 1,258,373 Depreciation and amortization 369,544 181,270 - 3,096 553,910 Operating income (loss) 1,716,185 (196,026) - (678,904) 841,255 Assets 29,388,634 4,855,319 - 8,841,280 43,085,233 Purchase of property and equipment 70,667 16,896 - - 87,563 As of and for the Nine Months Ended January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 42,138,437 $ 5,920,087 $ 2,379,212 $ - $ 50,437,736 Casino and food and beverage expense 21,796,442 5,266,344 1,330,095 - 28,392,881 Marketing and administrative expense 12,279,544 200,116 666,252 - 13,145,912 Facility, corporate and other expenses 1,570,409 106,876 55,863 2,612,247 4,345,395 Depreciation and amortization 1,028,465 461,090 240,360 9,287 1,739,202 Segment operating income (loss) 5,627,640 (119,999) 91,941 (2,621,534) 2,978,048 Segment assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 311,097 82,233 7,413 - 400,743 As of and for the Nine Months Ended January 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 41,417,439 $ 6,665,147 - $ 2,848 $ 48,085,434 Casino and food and beverage expense 22,025,610 5,741,892 - - 27,767,502 Marketing and administrative expense 12,552,525 249,050 - - 12,801,575 Facility, corporate and other expenses 1,628,380 100,541 - 1,821,853 3,550,774 Depreciation and amortization 1,109,336 526,161 - 8,068 1,643,565 Segment operating income (loss) 4,100,587 7,333 - (1,827,602) 2,280,318 Segment assets 29,388,634 4,855,319 - 8,841,280 43,085,233 Purchase of property and equipment 354,169 268,169 - 43,618 665,956

Acquisition of Club Fortune Cas

Acquisition of Club Fortune Casino	9 Months Ended
	Jan. 31, 2016
Business Combinations [Abstract]
Acquisition of Club Fortune Casino	Note 15. Acquisition of Club Fortune Casino On November 30, 2015, the Company completed the acquisition of the Club Fortune casino in Henderson, Nevada pursuant to an Asset Purchase Agreement dated May 22, 2015 between Gaming Ventures of Las Vegas, Inc., as Seller and Nevada Gold & Casinos LV, LLC, a wholly owned subsidiary of the Company, as Buyer. The purchase price for the acquisition, exclusive of working capital, is $ 14,159,623 1,190,476 16,362,004 The acquisition was financed pursuant to an expansion of the Company’s existing Credit Agreement with Mutual of Omaha Bank (see Long-Term Debt footnote). We incurred $ 0.6 We have recorded Club Fortune casino’s assets acquired and liabilities assumed based on our preliminary estimates of their fair values at the acquisition date. The determination of the fair values of the assets acquired and liabilities assumed (and the related determination of estimated lives of depreciable and amortizable tangible and identifiable intangible assets) requires significant judgment and estimates. The estimates and assumptions used include the projected timing and amount of future cash flows and discount rates that reflect risk inherent in the future cash flows. The estimated fair values of Club Fortune casino’s assets acquired and liabilities assumed and resulting goodwill are subject to adjustment as we finalize our fair value analysis. We do not currently expect our fair value determinations to change; however, there may be differences compared to those amounts reflected in our condensed consolidated financial statements at January 31, 2016, as we finalize our fair value analysis and such changes could be material. Building $ 5.8 Equipment 3.9 Land 2.1 Land improvements 0.2 Customer relationships 0.8 Tradename 0.7 Non-compete agreement 0.1 Goodwill 2.8 Working capital (1) 0.8 $ 17.2 (1) 1.2 The goodwill is the excess purchase price over the assets purchased and is primarily attributable to the assembled workforce and the synergies expected to arise due to our acquisition of Club Fortune. None of the goodwill associated with the acquisition is deductible for income tax purposes. The fair value of building and equipment was primarily determined using cost approaches in which we determined an estimated reproduction or replacement cost, as applicable. The fair value of the land was determined based on a market approach, analyzing recent sales or offerings of similar assets in the market to apply an appropriate price per acre. The estimated fair value of the acquired tradename was determined using the royalty savings method, which is a risk-adjusted discounted cash flow approach. The estimated fair values of customer relationships was determined using the excess earnings method, which is a risk-adjusted discounted cash flow approach that determines the value of an intangible asset as the present value of the cash flows attributable to such asset after excluding the proportion of the cash flows that are attributable to other assets. The contribution to the cash flows that are made by other assets - such as fixed assets, working capital, workforce and other intangible assets - was estimated through contributory asset capital charges. The value of the acquired customer relationship asset is the present value of the attributed post-tax cash flows, net of the post-tax return on fair value attributed to the other assets. Related to the acquisition, we were required to advance estimated deposits of $ 0.3 0.3 Three months ended January 31, Nine months ended January 31, 2016 2015 2016 2015 Net Revenue $ 19,655,619 $ 19,726,314 $ 59,006,254 $ 59,887,939 Net Income $ 264,907 $ 504,469 $ 1,158,005 $ 1,171,192

Critical Accounting Policies (P

Critical Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Revenue Recognition	We record revenues from casino operations on the accrual basis as earned. The retail value of food and beverage and other services furnished to guests without charge is included in gross revenue and deducted as promotional allowances. Net revenues do not include the retail amount of food, beverage and other items provided gratuitously to customers. We record the redemption of coupons and points for cash as a reduction of revenue as they are earned. These amounts are included in promotional allowances in the accompanying condensed consolidated statements of operations. Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2016 2015 2016 2015 Food and beverage $ 1,170,089 $ 808,941 $ 2,750,283 $ 2,401,566 Other 46,205 39,228 112,000 107,720 Total cost of complimentary services $ 1,216,294 $ 848,169 $ 2,862,283 $ 2,509,286
Fair Value	U.S. generally accepted accounting principles defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are as follows: Level 1 – Observable inputs such as quoted prices in active markets at the measurement date for identical, unrestricted assets or liabilities. Level 2 – Other inputs that are observable directly or indirectly such as quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 – Unobservable inputs for which there is little or no market data and which we make our own assumptions about how market participants would price the assets and liabilities. The following describes the valuation methodologies used by us to measure fair value: Real estate held for sale is recorded at fair value less selling costs. Goodwill and indefinite lived intangible assets are recorded at carrying value and tested for impairment annually, or more frequently, using projections of discounted future cash flows. Interest rate swaps are adjusted on a recurring basis pursuant to accounting standards for fair value measurements. We categorize our interest rate swap as Level 2 for fair value measurement.
Concentrations of Credit Risk	Financial instruments that potentially subject us to concentrations of credit risk are primarily notes receivable, cash and cash equivalents, accounts receivable and payable, and long term debt. Management performs periodic evaluations of the collectability of these notes and accounts receivable. Our cash deposits are held with large, well-known financial institutions, and, at times, such deposits may be in excess of the federally insured limit. The recorded value of cash, accounts receivable and payable, approximate fair value based on their short term nature; the recorded value of long term debt approximates fair value as interest rates approximate current market rates.
New Accounting Pronouncements and Legislation Issued	In February 2016, the Financial Accounting Standards Board (“FASB”) issued amended accounting guidance that changes the accounting for leases and requires expanded disclosures about leasing activities. Under the new guidance, lessees will be required to recognize a right-of-use asset and a lease liability, measured on a discounted basis, at the commencement date for all leases with terms greater than twelve months. Lessor accounting will remain largely unchanged, other than certain targeted improvements intended to align lessor accounting with the lessee accounting model and with the updated revenue recognition guidance issued in 2014. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The amended guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2018, and early application is permitted. The Company is currently evaluating the impact this guidance will have on its financial position and results of operations. In November 2015, the FASB issued final guidance that requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company expects to adopt this guidance in the fourth quarter of fiscal 2016. The adoption will have no effect on the Company's results of operations. In April 2015, the FASB issued amended accounting guidance that changes the balance sheet presentation of debt issuance costs. Under the amended guidance, debt issuance costs will be presented on the balance sheet as a direct deduction from the related debt liability rather than as an asset. In August 2015, the FASB issued Update 2015-15, which further clarifies the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. Debt issuance costs related to line-of-credit of arrangements can be recorded as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. For public companies, the new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015 (including interim periods within those fiscal years), and is required to be applied on a retrospective basis. Early adoption is permitted. The Company expects to adopt this guidance in the first quarter of fiscal 2017. The adoption will have no effect on the Company's results of operations. In May 2014, the FASB issued a new accounting standard for revenue recognition which requires entities to recognize revenue when it transfers promised goods or services to customers, in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard supersedes the existing accounting guidance for revenue recognition, including industry-specific guidance, and amends certain accounting guidance for recognition of gains and losses on the transfer of non-financial assets. For public companies, the new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017. Early application is permitted for annual reporting periods beginning after December 15, 2016 (including interim periods within those periods). Upon adoption, financial statement issuers may elect to apply the new standard either retrospectively to each prior reporting period presented, or using a modified retrospective approach by recognizing the cumulative effect of initial application and providing certain additional disclosures. The Company will adopt this guidance in the first quarter of 2018. The Company is currently evaluating the impact this guidance will have on its financial position and results of operations, and has not yet determined which adoption method it will elect. In April 2014, the FASB issued amended accounting guidance that changes the criteria for reporting discontinued operations and expands the related disclosure requirements. This guidance is effective in the first quarter of our fiscal year 2016. The Company adopted this guidance during the first quarter of fiscal year 2016 with no material impact on our financial position or results of operations. The Golden Nugget casino was not considered a significant component of the Company and therefore the sale was not treated as discontinued operations. See Goodwill and Intangible Assets footnote. A variety of proposed or otherwise potential accounting guidance is currently under study by standard-setting organizations and certain regulatory agencies. Due to the tentative and preliminary nature of such proposed accounting guidance, the Company has not yet determined the effect, if any, that the implementation of such proposed accounting guidance would have on its condensed consolidated financial statements.

Critical Accounting Policies (T

Critical Accounting Policies (Tables)	9 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Schedule Of Cost Of Revenue	The estimated cost of providing such complimentary services included in casino expense in the accompanying condensed consolidated statements of operations was as follows: Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2016 2015 2016 2015 Food and beverage $ 1,170,089 $ 808,941 $ 2,750,283 $ 2,401,566 Other 46,205 39,228 112,000 107,720 Total cost of complimentary services $ 1,216,294 $ 848,169 $ 2,862,283 $ 2,509,286

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Change in Carrying Amount of Goodwill and Intangibles	The change in the carrying amount of goodwill and other intangible assets for the nine months ended January 31, 2016 is as follows: Other intangible Total Goodwill assets, net Balance as of April 30, 2015 $ 20,664,960 $ 16,103,583 $ 4,561,377 Current year amortization (867,063) - (867,063) Gaming license 42,206 - 42,206 Acquisition of Club Fortune 4,411,434 2,831,434 1,580,000 Sale of Golden Nugget (74,958) (74,958) - Balance as of January 31, 2016 $ 24,176,579 $ 18,860,059 $ 5,316,520
Goodwill and Net Other Intangibles by Segment	Goodwill and net other intangible assets by segment as of January 31, 2016 are as follows: Other intangible Total Goodwill assets, net Washington $ 16,951,820 $ 14,092,154 $ 2,859,666 South Dakota 2,407,899 1,936,471 471,428 Nevada 4,385,799 2,831,434 1,554,365 Corporate 431,061 - 431,061 Balance as of January 31, 2016 $ 24,176,579 $ 18,860,059 $ 5,316,520
Summary of Intangible Assets and Accumulated Amortization	Intangible assets are generally amortized on a straight line basis over the useful lives of the assets. State gaming license and trade names are not amortizable. A summary of intangible assets and accumulated amortization as of January 31, 2016 are as follows: Gross Carrying Accumulated Amount Amortization Net Customer relationships $ 8,673,321 $ (6,403,751) $ 2,269,570 Non-compete agreements 1,379,000 (1,275,111) 103,889 State gaming license 431,061 - 431,061 Trade names 2,512,000 - 2,512,000 Total $ 12,995,382 $ (7,678,862) $ 5,316,520
Estimated Future Annual Amortization of Intangible Assets	The weighted average useful lives of acquired intangibles related to customer relationships is 7.0 3.0 Period Amount February 2016-January 2017 $ 977,099 February 2017-January 2018 612,509 February 2018-January 2019 334,803 February 2019-January 2020 117,143 February 2020-January 2021 117,143 Thereafter 214,762 Total $ 2,373,459

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Jan. 31, 2016
Other Assets [Abstract]
Other Assets	Other assets consisted of the following: January 31, 2016 April 30, 2015 Debt issuance costs, net $ 197,567 $ 261,323 Other 70,000 70,657 Other assets $ 267,567 $ 331,980

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Long-Term Financing Obligations	Our long-term financing obligations are as follows: January 31, April 30, 2016 2015 $23.0 million reducing revolving credit agreement, less discount discount of $145,956, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining $11,125,000 principal due on the maturity date of November 30, 2020. $ 18,594,044 $ 7,350,000 Less: current portion - - Total long-term financing obligations $ 18,594,044 $ 7,350,000
Scheduled Principal Payments on Credit Facility	As of January 31, 2016, principal reductions due on the Credit Facility are as follows: February 1, 2016 – January 31, 2017 $ - February 1, 2017 – January 31, 2018 1,365,000 February 1, 2018 – January 31, 2019 2,500,000 February 1, 2019 – January 31, 2020 2,500,000 February 1, 2020 – November 30, 2020 12,375,000 Total payments 18,740,000 Unamortized debt discount (145,956) Total long-term debt $ 18,594,044

Equity Transactions and Stock26

Equity Transactions and Stock Option Plans (Tables)	9 Months Ended
	Jan. 31, 2016
Share-Based Compensation [Abstract]
Summary of Activity under Share-Based Payment Plans	A summary of stock option activity under our share-based payment plans for the nine months ended January 31, 2016 is presented below: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term (Year) Value Outstanding at April 30, 2015 895,000 $ 1.08 Granted - Exercised (145,000) $ 1.31 Forfeited or expired - Outstanding at January 31, 2016 750,000 $ 1.09 6.50 $ 819,500 Exercisable at January 31, 2016 650,000 $ 1.07 6.20 $ 724,500 Available for grant at January 31, 2016 672,400

Computation of Earnings Per S27

Computation of Earnings Per Share (Tables)	9 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	The following is presented as a reconciliation of the numerators and denominators of basic and diluted earnings per share computations: Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2016 2015 2016 2015 Numerator: Basic and Diluted: Net income available to common shareholders $ 466,351 $ 448,108 $ 1,542,338 $ 1,218,205 Denominator: Basic weighted average number of common shares outstanding 17,349,217 16,225,562 16,751,944 16,212,916 Dilutive effect of common stock options and warrants 295,509 285,807 260,266 161,937 Diluted weighted average number of common shares outstanding 17,644,726 16,511,369 17,012,210 16,374,853 Net income per common share - basic $ 0.03 $ 0.03 $ 0.09 $ 0.08 Net income per common share - diluted $ 0.03 $ 0.03 $ 0.09 $ 0.07

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Expected Remaining Future Rolling Twelve Months Minimum Lease Payments	As a result of acquiring facilities in Washington and South Dakota and our commitment to lease office space for our corporate headquarters in Las Vegas, Nevada, as of January 31, 2016, we have future annual minimum lease payments as follows: Period Corporate Nevada Washington South Total February 2016-January 2017 $ 47,554 $ 10,200 $ 2,986,299 $ 55,200 $ 3,099,253 February 2017-January 2018 - 5,950 3,032,848 - 3,038,798 February 2018-January 2019 - 3,074,146 - 3,074,146 February 2019-January 2020 - 2,548,842 - 2,548,842 February 2020-January 2021 - 2,419,444 - 2,419,444 Thereafter - 2,079,325 - 2,079,325 $ 47,554 $ 16,150 $ 16,140,904 $ 55,200 $ 16,259,808

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Summarized Financial Information for Reportable Segments	Summarized financial information for our reportable segments is shown in the following table. As of and for the Three Months Ended January 31, 2016 Washington South Nevada Corporate Total Net revenue $ 14,647,144 $ 1,334,391 $ 2,379,212 $ - $ 18,360,747 Casino and food and beverage expense 7,254,960 1,292,036 1,330,095 - 9,877,091 Marketing and administrative expense 4,093,537 63,714 666,252 - 4,823,503 Facility, corporate and other expenses 521,844 41,685 55,863 1,121,138 1,740,530 Depreciation and amortization 340,034 156,209 240,360 3,096 739,699 Operating income (loss) 2,434,944 (220,456) 91,941 (1,124,234) 1,182,195 Assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 112,167 3,679 7,413 - 123,259 As of and for the Three Months Ended January 31, 2015 Washington South Nevada Corporate Total Net revenue $ 14,356,584 $ 1,446,706 - $ 1,000 $ 15,804,290 Casino and food and beverage expense 7,414,083 1,315,816 - - 8,729,899 Marketing and administrative expense 4,306,962 89,278 - - 4,396,240 Facility, corporate and other expenses 549,778 31,787 - 676,808 1,258,373 Depreciation and amortization 369,544 181,270 - 3,096 553,910 Operating income (loss) 1,716,185 (196,026) - (678,904) 841,255 Assets 29,388,634 4,855,319 - 8,841,280 43,085,233 Purchase of property and equipment 70,667 16,896 - - 87,563 As of and for the Nine Months Ended January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 42,138,437 $ 5,920,087 $ 2,379,212 $ - $ 50,437,736 Casino and food and beverage expense 21,796,442 5,266,344 1,330,095 - 28,392,881 Marketing and administrative expense 12,279,544 200,116 666,252 - 13,145,912 Facility, corporate and other expenses 1,570,409 106,876 55,863 2,612,247 4,345,395 Depreciation and amortization 1,028,465 461,090 240,360 9,287 1,739,202 Segment operating income (loss) 5,627,640 (119,999) 91,941 (2,621,534) 2,978,048 Segment assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 311,097 82,233 7,413 - 400,743 As of and for the Nine Months Ended January 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 41,417,439 $ 6,665,147 - $ 2,848 $ 48,085,434 Casino and food and beverage expense 22,025,610 5,741,892 - - 27,767,502 Marketing and administrative expense 12,552,525 249,050 - - 12,801,575 Facility, corporate and other expenses 1,628,380 100,541 - 1,821,853 3,550,774 Depreciation and amortization 1,109,336 526,161 - 8,068 1,643,565 Segment operating income (loss) 4,100,587 7,333 - (1,827,602) 2,280,318 Segment assets 29,388,634 4,855,319 - 8,841,280 43,085,233 Purchase of property and equipment 354,169 268,169 - 43,618 665,956

Acquisition of Club Fortune C30

Acquisition of Club Fortune Casino (Tables)	9 Months Ended
	Jan. 31, 2016
Business Combinations [Abstract]
Estimated Fair Values of the Assets Acquired and Liabilities Assumed	Building $ 5.8 Equipment 3.9 Land 2.1 Land improvements 0.2 Customer relationships 0.8 Tradename 0.7 Non-compete agreement 0.1 Goodwill 2.8 Working capital (1) 0.8 $ 17.2 (1) 1.2
Unaudited Pro Forma Data	The following unaudited pro forma data gives effect to the Club Fortune acquisition as if it had been completed on May 1, 2014. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of what the operating results actually would have been during the periods presented had the acquisition been completed on May 1, 2014. In addition, the unaudited pro forma financial information does not purport to project future operating results. This information is preliminary in nature and subject to change based on final purchase price adjustments. The pro forma information do not reflect any anticipated synergies or the impact of non-recurring items directly related to the Club Fortune acquisition. Three months ended January 31, Nine months ended January 31, 2016 2015 2016 2015 Net Revenue $ 19,655,619 $ 19,726,314 $ 59,006,254 $ 59,887,939 Net Income $ 264,907 $ 504,469 $ 1,158,005 $ 1,171,192

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2015	Jan. 31, 2015
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Taxes, Miscellaneous, Total	$ 104,510	$ 248,308

Estimated Cost of Complimentary

Estimated Cost of Complimentary Services (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Significant Accounting Policies [Line Items]
Food and beverage	$ 1,170,089	$ 808,941	$ 2,750,283	$ 2,401,566
Other	46,205	39,228	112,000	107,720
Total cost of complimentary services	$ 1,216,294	$ 848,169	$ 2,862,283	$ 2,509,286

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,525,803	$ 1,724,439

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended
	May. 25, 2012	Jan. 31, 2016	Apr. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable		$ 1,260,429	$ 1,698,931
Colorado Grande Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 2,325,000
Notes receivable, maturity date	Jun. 1, 2017	Jun. 1, 2017
Notes receivable, interest rate	6.00%
Promissory note receivable, accrued interest		$ 743,302
Fourth Installment | Colorado Grande Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note receivable, accrued interest		$ 40,000

Goodwill and Net Other Intangib

Goodwill and Net Other Intangibles by Segment (Detail)	Jan. 31, 2016USD ($)
Goodwill [Line Items]
Goodwill and other intangible assets	$ 24,176,579
Washington
Goodwill [Line Items]
Goodwill and other intangible assets	16,951,820
South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	2,407,899
Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	4,385,799
Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	431,061
Other intangible assets, net
Goodwill [Line Items]
Goodwill and other intangible assets	5,316,520
Other intangible assets, net | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	2,859,666
Other intangible assets, net | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	471,428
Other intangible assets, net | Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	1,554,365
Other intangible assets, net | Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	431,061
Goodwill
Goodwill [Line Items]
Goodwill and other intangible assets	18,860,059
Goodwill | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	14,092,154
Goodwill | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	1,936,471
Goodwill | Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	2,831,434
Goodwill | Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	$ 0

Change in Carrying Amount of Go

Change in Carrying Amount of Goodwill and Other Intangibles (Detail)	9 Months Ended
	Jan. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Line Items]
Beginning Balance	$ 20,664,960
Current year amortization	(867,063)
Gaming license	42,206
Acquisition of Club Fortune	4,411,434
Sale of Golden Nugget	(74,958)
Ending Balance	24,176,579
Goodwill
Goodwill and Intangible Assets Disclosure [Line Items]
Beginning Balance	16,103,583
Current year amortization	0
Gaming license	0
Acquisition of Club Fortune	2,831,434
Sale of Golden Nugget	(74,958)
Ending Balance	18,860,059
Other intangible assets, net
Goodwill and Intangible Assets Disclosure [Line Items]
Beginning Balance	4,561,377
Current year amortization	(867,063)
Gaming license	42,206
Acquisition of Club Fortune	1,580,000
Sale of Golden Nugget	0
Ending Balance	$ 5,316,520

Summary of Intangible Assets an

Summary of Intangible Assets and Accumulated Amortization (Detail) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,995,382
Accumulated Amortization	(7,678,862)	$ (6,811,799)
Net	5,316,520
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,673,321
Accumulated Amortization	(6,403,751)
Net	2,269,570
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,379,000
Accumulated Amortization	(1,275,111)
Net	103,889
State gaming license
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	431,061
Accumulated Amortization	0
Net	431,061
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,512,000
Accumulated Amortization	0
Net	$ 2,512,000

Estimated Future Annual Amortiz

Estimated Future Annual Amortization of Intangible Assets (Detail)	Jan. 31, 2016USD ($)
Expected Amortization Expense [Line Items]
Total	$ 5,316,520
Customer relationships and Non-compete agreements
Expected Amortization Expense [Line Items]
February 2016-January 2017	977,099
February 2017-January 2018	612,509
February 2018-January 2019	334,803
February 2019-January 2020	117,143
February 2020-January 2021	117,143
Thereafter	214,762
Total	$ 2,373,459

Goodwill and Intangible Asset39

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill and identifiable intangible in connection with acquisitions of the Washington mini-casinos	$ 24,176,579	$ 20,664,960
Goodwill, Period Increase (Decrease), Total	$ 74,958
Customer relationships
Goodwill and Intangible Assets Disclosure [Line Items]
Weighted average useful lives of acquired intangibles	7 years
Non-compete agreements
Goodwill and Intangible Assets Disclosure [Line Items]
Weighted average useful lives of acquired intangibles	3 years

Other Assets (Detail)

Other Assets (Detail) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Debt issuance costs, net	$ 197,567	$ 261,323
Other	70,000	70,657
Other assets	$ 267,567	$ 331,980

Long-Term Financing Obligations

Long-Term Financing Obligations (Detail) - USD ($)	Jan. 31, 2016	Apr. 30, 2015
Debt Instrument [Line Items]
$23.0 million reducing revolving credit agreement, less discount discount of $145,956, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining $11,125,000 principal due on the maturity date of November 30, 2020.	$ 18,594,044	$ 7,350,000
Less: current portion	0	0
Total long-term financing obligations	$ 18,594,044	$ 7,350,000

Long-Term Financing Obligatio42

Long-Term Financing Obligations (Parenthetical) (Detail)	9 Months Ended
	Jan. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 23,000,000
Debt Instrument Maturity Date	Nov. 30, 2020
Debt Instrument, Unamortized Discount	$ 145,956
January 31, 2016 through November 30, 2020
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment	625,000
Maturity date of November 30, 2020
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment	$ 11,125,000

Schedule of Principal Payments

Schedule of Principal Payments on Credit Facility (Detail) - USD ($)	9 Months Ended
	Jan. 31, 2016	Apr. 30, 2015
Line of Credit Facility [Line Items]
Total payments	$ 18,740,000
Unamortized debt discount	(145,956)
Total long-term debt	18,594,044	$ 7,350,000
February 1, 2016 - January 31, 2017
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	0
February 1, 2017 - January 31, 2018
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	1,365,000
February 1, 2018 - January 31, 2019
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	2,500,000
February 1, 2019 - January 31, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	2,500,000
February 1, 2020 - November 30, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	$ 12,375,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jan. 31, 2016	Jan. 31, 2016	Nov. 30, 2015
Debt Disclosure [Line Items]
Line of Credit Facility, Interest Rate Description		LIBOR plus an Applicable Margin
Percentage Of Remaining Credit Facility Principal Balance		50.00%
Maximum
Debt Disclosure [Line Items]
Line Of Credit Facility Fixed Charge Coverage Ratio		1.15
Minimum
Debt Disclosure [Line Items]
Line Of Credit Facility Fixed Charge Coverage Ratio		1
Reducing Revolving Credit Facility
Debt Disclosure [Line Items]
Line of credit facility amount outstanding			$ 23
Debt Instrument, Interest Rate, Effective Percentage	4.422%	4.422%
through January 31, 2017 | Maximum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		3
through January 31, 2017 | Minimum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		1
February 1, 2018 until maturity | Maximum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		2.50
February 1, 2018 until maturity | Minimum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		1
February 1, 2017 through January 31, 2018 [Member] | Maximum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		2.75
February 1, 2017 through January 31, 2018 [Member] | Minimum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		1
Amended Credit Agreement [Member]
Debt Disclosure [Line Items]
Line of credit facility amount outstanding	$ 3.6	$ 3.6
Line of Credit Facility, Periodic Payment, Principal	$ 2

Interest Rate Swap - Additional

Interest Rate Swap - Additional Information (Detail)	9 Months Ended
	Jan. 31, 2016USD ($)
Interest Rate Swap [Line Items]
Derivative, Notional Amount	$ 11,187,500
Derivative, Variable Interest Rate	1.77%
Derivative, Swaption Interest Rate	5.77%
Percentage Of Initial Floating Index	0.4238%
Increase Decrease In Interest Rate Swap	$ 246,146
Other Long-term Debt, Total	$ 313,013

Summary of Activity under Share

Summary of Activity under Share-Based Payment Plans (Detail)	9 Months Ended
	Jan. 31, 2016USD ($)$ / sharesshares
Options
Outstanding	895,000
Granted	0
Exercised	(145,000)
Forfeited or expired	0
Outstanding	750,000
Exercisable	650,000
Available for grant	672,400
Weighted Average Exercise Price
Outstanding | $ / shares	$ 1.08
Exercised | $ / shares	1.31
Outstanding | $ / shares	1.09
Exercisable | $ / shares	$ 1.07
Weighted Average Remaining Contractual Term (Year)
Outstanding	6 years 6 months
Exercisable	6 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding | $	$ 819,500
Exercisable | $	$ 724,500

Equity Transactions and Stock47

Equity Transactions and Stock Option Plans - Additional Information (Detail) - USD ($)	Oct. 11, 2010	Jan. 31, 2016	Apr. 14, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation related to stock options		$ 70,705
Weighted average fair value of options granted term		7 months 6 days
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of reserved for issuance under stock plan			1,750,000
Stock options exercised (in shares)		12,600
Officers' Compensation		$ 10,000
Compensation		$ 5,000
2009 Plan | Stock option rights granted prior to fiscal year 2006 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options terms		10 years
2009 Plan | Stock option rights granted after fiscal year 2006 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options terms		5 years
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of reserved for issuance under stock plan	500,000
Employee stock purchase, purchase price as percentage of fair market value	90.00%
Maximum contributions by participants as percentage of paid compensation	20.00%
Number of shares issued under stock plan		430,704

Stock Offering and Warrants - A

Stock Offering and Warrants - Additional Information (Detail)	Nov. 07, 2011USD ($)$ / sharesshares
Stockholders Equity [Line Items]
Sale of common stock shares | shares	2,625,652
Sale of common stock shares, price per share | $ / shares	$ 1.65
Sale of common stock shares, total proceeds	$ 4,300,000
Sale of common stock shares, offering costs	$ 444,000
Sale of common stock shares, number of common stock exchange for each warrant	0.75
Sale of common stock shares, warrant issued exercisable period from initial exercise date	5 years
Sale of common stock shares, warrant issued exercise price | $ / shares	$ 2.18
Sale of common stock shares, warrant issued initial exercise date	6 months
South Dakota Gold
Stockholders Equity [Line Items]
Stock Purchase Agreement to purchase all of the shares of South Dakota Gold	$ 5,100,000

Reconciliation of Numerators an

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Basic and Diluted:
Net income available to common shareholders	$ 466,351	$ 448,108	$ 1,542,338	$ 1,218,205
Denominator:
Basic weighted average number of common shares outstanding	17,349,217	16,225,562	16,751,944	16,212,916
Dilutive effect of common stock options and warrants	295,509	285,807	260,266	161,937
Diluted weighted average number of common shares outstanding	17,644,726	16,511,369	17,012,210	16,374,853
Net income per common share - basic	$ 0.03	$ 0.03	$ 0.09	$ 0.08
Net income per common share - diluted	$ 0.03	$ 0.03	$ 0.09	$ 0.07

Expected Remaining Future Rolli

Expected Remaining Future Rolling Twelve Months Minimum Lease Payments (Detail)	Jan. 31, 2016USD ($)
Schedule of Operating Leases [Line Items]
February 2016-January 2017	$ 3,099,253
February 2017-January 2018	3,038,798
February 2018-January 2019	3,074,146
February 2019-January 2020	2,548,842
February 2020-January 2021	2,419,444
Thereafter	2,079,325
Total	16,259,808
Corporate Office
Schedule of Operating Leases [Line Items]
February 2016-January 2017	47,554
February 2017-January 2018	0
February 2018-January 2019	0
February 2019-January 2020	0
February 2020-January 2021	0
Thereafter	0
Total	47,554
Washington Gold
Schedule of Operating Leases [Line Items]
February 2016-January 2017	2,986,299
February 2017-January 2018	3,032,848
February 2018-January 2019	3,074,146
February 2019-January 2020	2,548,842
February 2020-January 2021	2,419,444
Thereafter	2,079,325
Total	16,140,904
South Dakota Gold
Schedule of Operating Leases [Line Items]
February 2016-January 2017	55,200
February 2017-January 2018	0
February 2018-January 2019	0
February 2019-January 2020	0
February 2020-January 2021	0
Thereafter	0
Total	55,200
Nevada Gold [Member]
Schedule of Operating Leases [Line Items]
February 2016-January 2017	10,200
February 2017-January 2018	5,950
Total	$ 16,150

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Income Tax Disclosure [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate			34.00%
Effective Income Tax Rate Reconciliation, Percent, Total	36.00%	35.00%	34.00%	33.00%
Deferred Income Tax Assets, Net	$ 2.8		$ 2.8
Deferred Tax Assets, Other	$ 7.8		$ 7.8

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Washington Gold
Segment Reporting Information [Line Items]
Net revenue	$ 14,647,144	$ 14,356,584	$ 42,138,437	$ 41,417,439
Casino and food and beverage expense	7,254,960	7,414,083	21,796,442	22,025,610
Marketing and administrative expense	4,093,537	4,306,962	12,279,544	12,552,525
Facility, corporate and other expenses	521,844	549,778	1,570,409	1,628,380
Depreciation and amortization	340,034	369,544	1,028,465	1,109,336
Operating income (loss)	2,434,944	1,716,185	5,627,640	4,100,587
Assets	28,436,653	29,388,634	28,436,653	29,388,634
Purchase of property and equipment	112,167	70,667	311,097	354,169
South Dakota Gold
Segment Reporting Information [Line Items]
Net revenue	1,334,391	1,446,706	5,920,087	6,665,147
Casino and food and beverage expense	1,292,036	1,315,816	5,266,344	5,741,892
Marketing and administrative expense	63,714	89,278	200,116	249,050
Facility, corporate and other expenses	41,685	31,787	106,876	100,541
Depreciation and amortization	156,209	181,270	461,090	526,161
Operating income (loss)	(220,456)	(196,026)	(119,999)	7,333
Assets	4,295,587	4,855,319	4,295,587	4,855,319
Purchase of property and equipment	3,679	16,896	82,233	268,169
Nevada [Member]
Segment Reporting Information [Line Items]
Net revenue	2,379,212	0	2,379,212	0
Casino and food and beverage expense	1,330,095	0	1,330,095	0
Marketing and administrative expense	666,252	0	666,252	0
Facility, corporate and other expenses	55,863	0	55,863	0
Depreciation and amortization	240,360	0	240,360	0
Operating income (loss)	91,941	0	91,941	0
Assets	18,054,786	0	18,054,786	0
Purchase of property and equipment	7,413	0	7,413	0
Corporate
Segment Reporting Information [Line Items]
Net revenue	0	1,000	0	2,848
Casino and food and beverage expense	0	0	0	0
Marketing and administrative expense	0	0	0	0
Facility, corporate and other expenses	1,121,138	676,808	2,612,247	1,821,853
Depreciation and amortization	3,096	3,096	9,287	8,068
Operating income (loss)	(1,124,234)	(678,904)	(2,621,534)	(1,827,602)
Assets	7,953,483	8,841,280	7,953,483	8,841,280
Purchase of property and equipment	0	0	0	43,618
Total
Segment Reporting Information [Line Items]
Net revenue	18,360,747	15,804,290	50,437,736	48,085,434
Casino and food and beverage expense	9,877,091	8,729,899	28,392,881	27,767,502
Marketing and administrative expense	4,823,503	4,396,240	13,145,912	12,801,575
Facility, corporate and other expenses	1,740,530	1,258,373	4,345,395	3,550,774
Depreciation and amortization	739,699	553,910	1,739,202	1,643,565
Operating income (loss)	1,182,195	841,255	2,978,048	2,280,318
Assets	58,740,509	43,085,233	58,740,509	43,085,233
Purchase of property and equipment	$ 123,259	$ 87,563	$ 400,743	$ 665,956

Preliminary Allocation of the P

Preliminary Allocation of the Purchase Price to the Estimated Fair Values of the Assets Acquired and Liabilities Assumed (Detail) $ in Millions	Jan. 31, 2016USD ($)
Building	$ 5.8
Equipment	3.9
Land	2.1
Land improvements	0.2
Goodwill	2.8
Working capital	0.8	[1]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total	17.2
Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	0.8
Trade Names [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	0.7
Noncompete Agreements [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 0.1
[1]	Working capital includes $1.2 million of cash acquired. It also includes $0.3 million which was refunded to us in February, as part of the final working capital calculation.

Unaudited Pro Forma Data (Detai

Unaudited Pro Forma Data (Detail) - Club Fortune Casino [Member] - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Net Revenue	$ 19,655,619	$ 19,726,314	$ 59,006,254	$ 59,887,939
Net Income	$ 264,907	$ 504,469	$ 1,158,005	$ 1,171,192

Acquisition of Club Fortune C55

Acquisition of Club Fortune Casino - Additional Information (Detail) - USD ($)	1 Months Ended
	Nov. 30, 2015	Jan. 31, 2016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets, Total	$ 14,159,623
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 1,200,000
Acquisition Advance Estimated Deposits		300,000
Working Capital Deficit		300,000
Club Fortune Casino [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,190,476
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 16,362,004
Business Acquisition, Transaction Costs		$ 600,000