Nevada Gold & Casinos (UWN) 10-Q 15 Dec 16 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Sep. 01, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		17,798,356

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Current assets:
Cash and cash equivalents	$ 10,237,713	$ 11,583,107
Restricted cash	1,518,888	1,433,728
Accounts receivable, net of allowances	468,795	665,549
Prepaid expenses	1,529,350	1,206,825
Notes receivable, current portion	620,929	208,294
Inventory and other current assets	406,144	416,022
Total current assets	14,781,819	15,513,525
Real estate held for sale	750,000	750,000
Notes receivable, net of current portion	7,500	900,775
Goodwill	18,025,059	18,025,059
Intangible assets, net of accumulated amortization	4,534,399	5,003,981
Property and equipment, net of accumulated depreciation	14,850,636	15,147,061
Deferred tax asset	2,325,445	2,348,299
Other assets	70,000	70,000
Total assets	55,344,858	57,758,700
Current liabilities:
Accounts payable and accrued liabilities	1,331,378	1,702,366
Accrued payroll and related	1,852,582	2,094,250
Accrued player's club points and progressive jackpots	1,886,958	1,872,566
Total current liabilities	5,070,918	5,669,182
Long-term debt	15,209,829	16,839,148
Other long-term liabilities	856,920	881,426
Total liabilities	21,137,667	23,389,756
Stockholders' equity:
Common stock, $0.12 par value per share; 50,000,000 shares authorized; 18,625,167 and 18,571,693 shares issued and 17,652,542 and 17,788,856 shares outstanding at October 31, 2016, and April 30, 2016, respectively	2,235,028	2,228,612
Additional paid-in capital	27,441,270	27,315,517
Retained earnings	11,807,300	11,756,850
Treasury stock, 972,625 and 782,837 shares at October 31, 2016 and April 30, 2016, respectively, at cost	(7,276,407)	(6,932,035)
Total stockholders' equity	34,207,191	34,368,944
Total liabilities and stockholders' equity	$ 55,344,858	$ 57,758,700

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2016	Apr. 30, 2016
Common stock, par value	$ 0.12	$ 0.12
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	18,625,167	18,571,693
Common stock, shares outstanding	17,652,542	17,788,856
Treasury stock, shares	972,625	782,837

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenues:
Casino	$ 16,412,381	$ 14,262,197	$ 32,650,083	$ 28,360,893
Food and beverage	3,329,915	2,479,077	6,631,308	4,922,187
Other	547,545	455,212	1,088,260	907,884
Gross revenues	20,289,841	17,196,486	40,369,651	34,190,964
Less promotional allowances	(1,747,069)	(1,062,273)	(3,529,902)	(2,113,975)
Net revenues	18,542,772	16,134,213	36,839,749	32,076,989
Expenses:
Casino	9,490,195	7,929,335	18,715,421	15,924,636
Food and beverage	1,482,778	1,295,320	3,015,120	2,608,689
Other	70,394	63,000	154,403	110,999
Marketing and administrative	5,163,876	4,114,503	10,434,156	8,325,058
Facility	547,370	492,066	1,080,705	985,221
Corporate	724,136	738,995	1,520,869	1,488,462
Depreciation and amortization	773,510	488,709	1,550,022	999,503
Loss (gain) on disposal of assets	5,546	2,050	13,916	(161,430)
Total operating expenses	18,257,805	15,123,978	36,484,612	30,281,138
Operating income	284,967	1,010,235	355,137	1,795,851
Non-operating income (expenses):
Interest income	23,124	24,749	46,092	50,630
Interest expense and amortization of loan issue costs	(150,812)	(94,027)	(304,331)	(213,620)
Interest rate swap expense	(33,591)	(12,714)	(70,056)	(30,326)
Change in swap fair value	97,176	(9,133)	46,462	2,084
Income before income tax expense	220,864	919,110	73,304	1,604,619
Income tax expense	(70,842)	(301,122)	(22,854)	(528,634)
Net income	$ 150,022	$ 617,988	$ 50,450	$ 1,075,985
Per share information:
Net income per common share - basic and diluted	$ 0.01	$ 0.04	$ 0	$ 0.07

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net income	$ 50,450	$ 1,075,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,550,022	999,503
Stock compensation	119,128	110,495
Amortization of deferred loan issuance costs	43,459	85,041
Change in deferred rent	21,955	12,863
Changes to restricted cash	(85,160)	283,432
Change in swap fair value	(46,462)	(2,084)
Loss (gain) on disposal of assets	13,916	(161,430)
Changes in deferred income taxes	22,854	528,634
Other	0	869
Changes in operating assets and liabilities:
Receivables and other assets	(115,892)	(587,200)
Accounts payable and accrued liabilities	(598,264)	(529,995)
Net cash provided by operating activities	976,006	1,816,113
Cash flows from investing activities:
Club Fortune acquisition, net of cash acquired	0	(1,500,000)
Collections on notes receivable	480,640	290,040
Purchase of property and equipment	(822,877)	(277,485)
Capitalized licensing costs refunded (paid)	24,946	(76,934)
Proceeds from the sale of assets	0	300,520
Net cash used in investing activities	(317,291)	(1,263,859)
Cash flows from financing activities:
Purchase of treasury stock	(344,372)	0
Repayment of credit facilities	(1,672,777)	(2,110,000)
Employee stock plan purchases	0	28,280
Proceeds from credit facilities	0	1,500,000
Repayment of capital lease	0	(25,372)
Deferred loan issuance costs	0	(149,500)
Cash proceeds from exercise of stock options	13,040	176,150
Net cash used in financing activities	(2,004,109)	(580,442)
Net decrease in cash and cash equivalents	(1,345,394)	(28,188)
Cash and cash equivalents at beginning of period	11,583,107	8,541,670
Cash and cash equivalents at end of period	10,237,713	8,513,482
Supplemental cash flow information:
Cash paid for interest	$ 348,669	$ 162,566

Basis of Presentation

Basis of Presentation	6 Months Ended
	Oct. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. 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 October 31, 2016 and April 30, 2016, condensed consolidated statements of operations for the three and six months ended October 31, 2016 and 2015, and condensed consolidated statements of cash flows for the six months ended October 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, 2016 and the notes thereto included in our Annual Report on Form 10-K. The results of operations for the three and six months ended October 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. Those reclassifications did not impact operating or net income, working capital or stockholders’ equity.

Critical Accounting Policies

Critical Accounting Policies	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, October 31, October 31, Food and beverage $ 1,600,587 $ 845,540 $ 3,137,705 $ 1,692,093 Other 53,004 32,933 111,249 65,357 Total cost of complimentary services $ 1,653,591 $ 878,473 $ 3,248,954 $ 1,757,450 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 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 2019. 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. 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	6 Months Ended
	Oct. 31, 2016
Restricted Cash and Investments [Abstract]
Restricted Cash	Note 3. Restricted Cash As of October 31, 2016 and April 30, 2016, we maintained $ 1,518,888 1,433,728

Notes Receivable

Notes Receivable	6 Months Ended
	Oct. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Notes Receivable	Note 4. Notes Receivable As of October 31, 2016, and April 30, 2016, we had net notes receivable of $ 628,429 1,109,069 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 October 31, 2016, the remaining principal and interest payments are scheduled to be made as follows: ⋅ Beginning November 1, 2016, six monthly installments of principal and accrued interest of $ 40,000 ⋅ A final installment of $ 398,369 Through October 31, 2016, GI has timely made required principal and interest payments.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Oct. 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 slot route on January 27, 2012, and the Club Fortune Casino in Nevada on December 1, 2015, we have goodwill and intangible assets of $ 22,559,458 Total Goodwill Other Balance as of April 30, 2016 $ 23,029,040 $ 18,025,059 $ 5,003,981 Current year amortization (444,636) - (444,636) Gaming license refund (24,946) - (24,946) Balance as of October 31, 2016 $ 22,559,458 $ 18,025,059 $ 4,534,399 Total Goodwill Other Washington $ 16,421,470 $ 14,092,154 $ 2,329,316 South Dakota 1,455,042 1,101,471 353,571 Nevada 4,270,442 2,831,434 1,439,008 Corporate 412,504 - 412,504 Total $ 22,559,458 $ 18,025,059 $ 4,534,399 Gross Accumulated Net Customer relationships $ 8,673,321 $ (7,139,815) $ 1,533,506 Non-compete agreements 1,379,000 (1,302,611) 76,389 State gaming registration 412,504 - 412,504 Trade names 2,512,000 - 2,512,000 Total $ 12,976,825 $ (8,442,426) $ 4,534,399 7.0 3.0 Period Amount November 2016-October 2017 $ 733,325 November 2017-October 2018 355,896 November 2018-October 2019 159,484 November 2019-October 2020 117,143 November 2020-October 2021 117,143 Thereafter 126,904 Total $ 1,609,895

Property and Equipment

Property and Equipment	6 Months Ended
	Oct. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Estimated October 31, April 30, Service Life 2016 2016 in Years Leasehold improvements $ 1,556,824 $ 1,439,720 7-20 Gaming equipment 5,329,539 5,247,574 3-5 Furniture and office equipment 4,470,246 4,190,901 3-7 Building and improvements 7,762,201 7,440,577 15-30 Land 2,387,750 2,387,750 Construction in progress - 82,272 21,506,560 20,788,794 Less accumulated depreciation (6,655,924) (5,641,733) Property and equipment, net $ 14,850,636 $ 15,147,061

Long-Term Debt

Long-Term Debt	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Note 7. Long-Term Debt October 31, April 30, 2016 2016 $23.0 million reducing revolving credit agreement, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining principal due on the maturity date of November 30, 2020. $ 15,209,829 $ 16,839,148 Less: current portion - - Total long-term financing obligations $ 15,209,829 $ 16,839,148 On November 30, 2015, the Company amended its existing credit agreement with Mutual of Omaha Bank to increase the lending commitment to $ 23 3.526 50 November 1, 2016 – October 31, 2017 $ - November 1, 2017 – October 31, 2018 67,223 November 1, 2018 – October 31, 2019 2,500,000 November 1, 2019 – October 31, 2020 1,875,000 November 1, 2020 – November 30, 2020 11,057,777 Total payments 15,500,000 Unamortized debt discount (290,171) Total long-term debt $ 15,209,829 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 $ 1.0 4.9 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	6 Months Ended
	Oct. 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 October 31, 2016, the Company had one outstanding interest rate swap with MOOB with a notional amount of $ 10,250,000 1.77 4.27 0.529 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 October 31, 2016, we recorded a $ 97,176 and April 30, 2016, 240,270 and $286,731, respectively

Equity Transactions and Stock O

Equity Transactions and Stock Option Plans	6 Months Ended
	Oct. 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 10 Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term (Year) Value Outstanding at April 30, 2016 705,000 $ 1.10 Granted - Exercised (9,500) $ 1.37 Forfeited or expired - Outstanding at October 31, 2016 695,500 $ 1.10 5.76 $ 425,895 Exercisable at October 31, 2016 695,500 $ 1.09 5.58 $ 401,895 Available for grant at October 31, 2016 672,400 As of October 31, 2016, there was no unamortized compensation cost related to stock options. Also, as of October 31, 2016, there was $ 6,722 1.0 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 permitted 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 5 January 1, 2016 Stock Repurchase Plan In July 2016, our board of directors approved a $ 2.0 189,788 1.81 351,965

Computation of Earnings Per Sha

Computation of Earnings Per Share	6 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Computation of Earnings Per Share Three Months Ended Six Months Ended October 31, October 31, October 31, October 31, 2016 2015 2016 2015 Numerator: Basic and Diluted: Net income available to common shareholders $ 150,022 $ 617,988 $ 50,450 $ 1,075,985 Denominator: Basic weighted average number of common shares outstanding 17,770,013 16,489,409 17,765,367 16,453,307 Dilutive effect of common stock options and warrants 292,842 206,291 297,036 197,849 Diluted weighted average number of common shares outstanding 18,062,855 16,695,700 18,062,403 16,651,156 Net income per common share - basic $ 0.01 $ 0.04 $ 0.00 $ 0.07 Net income per common share - diluted $ 0.01 $ 0.04 $ 0.00 $ 0.07

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies We are party to contracts in the ordinary course of business, including leases for real property and operating leases for equipment. Period Total November 2016-October 2017 $ 3,105,549 November 2017-October 2018 3,091,634 November 2018-October 2019 2,718,242 November 2019-October 2020 2,402,019 November 2020-October 2021 2,012,605 Thereafter 674,569 $ 14,004,618 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	6 Months Ended
	Oct. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes For the three months ended October 31, 2016 and 2015, our effective tax rates were 32% and 33%, respectively. For the six months ended October 31, 2016 and 2015, our effective tax rates were 31% and 33%, respectively. The difference between the federal statutory rate of 34% and the year to date’s effective tax rate is primarily due to general business credits. At October 31, 2016, we have $ 2.3 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	6 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Note 13. Segment Reporting We have three business segments: (i) Washington, (ii) South Dakota and (iii) Nevada, as well as the Company’s corporate location. For the three months ended October 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 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 income and expenses not allocated to other reportable segments. As of, and for the Three Months Ended, October 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 13,194,470 $ 2,236,868 $ 3,111,434 $ - $ 18,542,772 Casino and food and beverage expense 7,063,865 1,875,635 2,033,473 - 10,972,973 Marketing, administrative and corporate expense 4,115,482 114,710 933,684 724,136 5,888,012 Facility and other expenses 505,090 33,658 79,016 - 617,764 Depreciation and amortization 231,443 156,444 379,780 5,843 773,510 Operating income (loss) 1,278,380 56,127 (319,561) (729,979) 284,967 Assets 27,524,144 3,254,896 18,255,491 6,310,327 55,344,858 Purchase of property and equipment 49,582 21,463 89,561 7,154 167,760 As of, and for the Three Months Ended, October 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 13,727,547 $ 2,406,666 $ - $ - $ 16,134,213 Casino and food and beverage expense 7,154,436 2,070,219 - - 9,224,655 Marketing, administrative and corporate expense 4,056,578 55,278 - 741,642 4,853,498 Facility and other expenses 525,865 29,201 - - 555,066 Depreciation and amortization 332,251 153,362 - 3,096 488,709 Operating income (loss) 1,657,937 97,036 - (744,738) 1,010,235 Assets 28,656,460 4,730,697 - 9,667,264 43,054,421 Purchase of property and equipment 102,533 58,739 - - 161,272 As of, and for the Six Months Ended, October 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 26,264,287 $ 4,179,749 $ 6,395,713 $ - $ 36,839,749 Casino and food and beverage expense 14,172,822 3,566,005 3,991,714 - 21,730,541 Marketing, administrative and corporate expense 8,161,153 235,980 2,037,023 1,520,869 11,955,025 Facility and other expenses 1,008,609 69,610 156,889 - 1,235,108 Depreciation and amortization 486,623 312,657 738,662 12,080 1,550,022 Operating income (loss) 2,434,870 (13,168) (533,616) (1,532,949) 355,137 Assets 27,524,144 3,254,896 18,255,491 6,310,327 55,344,858 Purchase of property and equipment 239,100 21,463 507,126 55,188 822,877 As of, and for the Six Months Ended, October 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 27,491,292 $ 4,585,697 $ - $ - $ 32,076,989 Casino and food and beverage expense 14,559,017 3,974,308 - - 18,533,325 Marketing, administrative and corporate expense 8,186,009 136,402 - 1,491,109 9,813,520 Facility and other expenses 1,031,029 65,191 - - 1,096,220 Depreciation and amortization 688,429 304,882 - 6,192 999,503 Operating income (loss) 3,192,695 100,457 - (1,497,301) 1,795,851 Assets 28,656,460 4,730,697 - 9,667,264 43,054,421 Purchase of property and equipment 198,930 78,555 - - 277,485

Critical Accounting Policies (P

Critical Accounting Policies (Policies)	6 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Revenue Recognition	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 Six Months Ended October 31, October 31, October 31, October 31, Food and beverage $ 1,600,587 $ 845,540 $ 3,137,705 $ 1,692,093 Other 53,004 32,933 111,249 65,357 Total cost of complimentary services $ 1,653,591 $ 878,473 $ 3,248,954 $ 1,757,450
Fair Value	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	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	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 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 2019. 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. 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)	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, October 31, October 31, Food and beverage $ 1,600,587 $ 845,540 $ 3,137,705 $ 1,692,093 Other 53,004 32,933 111,249 65,357 Total cost of complimentary services $ 1,653,591 $ 878,473 $ 3,248,954 $ 1,757,450

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Oct. 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 six months ended October 31, 2016, is as follows: Total Goodwill Other Balance as of April 30, 2016 $ 23,029,040 $ 18,025,059 $ 5,003,981 Current year amortization (444,636) - (444,636) Gaming license refund (24,946) - (24,946) Balance as of October 31, 2016 $ 22,559,458 $ 18,025,059 $ 4,534,399
Goodwill and Net Other Intangibles by Segment	Total Goodwill Other Washington $ 16,421,470 $ 14,092,154 $ 2,329,316 South Dakota 1,455,042 1,101,471 353,571 Nevada 4,270,442 2,831,434 1,439,008 Corporate 412,504 - 412,504 Total $ 22,559,458 $ 18,025,059 $ 4,534,399
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 registration and trade names are not amortizable. A summary of intangible assets and accumulated amortization as of October 31, 2016, are as follows: Gross Accumulated Net Customer relationships $ 8,673,321 $ (7,139,815) $ 1,533,506 Non-compete agreements 1,379,000 (1,302,611) 76,389 State gaming registration 412,504 - 412,504 Trade names 2,512,000 - 2,512,000 Total $ 12,976,825 $ (8,442,426) $ 4,534,399
Estimated Future Annual Amortization of Intangible Assets	The weighted average useful life of acquired intangibles is 7.0 3.0 Period Amount November 2016-October 2017 $ 733,325 November 2017-October 2018 355,896 November 2018-October 2019 159,484 November 2019-October 2020 117,143 November 2020-October 2021 117,143 Thereafter 126,904 Total $ 1,609,895

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Oct. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment at October 31, 2016 and April 30, 2016, consist of the following: Estimated October 31, April 30, Service Life 2016 2016 in Years Leasehold improvements $ 1,556,824 $ 1,439,720 7-20 Gaming equipment 5,329,539 5,247,574 3-5 Furniture and office equipment 4,470,246 4,190,901 3-7 Building and improvements 7,762,201 7,440,577 15-30 Land 2,387,750 2,387,750 Construction in progress - 82,272 21,506,560 20,788,794 Less accumulated depreciation (6,655,924) (5,641,733) Property and equipment, net $ 14,850,636 $ 15,147,061

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Long-Term Financing Obligations	October 31, April 30, 2016 2016 $23.0 million reducing revolving credit agreement, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining principal due on the maturity date of November 30, 2020. $ 15,209,829 $ 16,839,148 Less: current portion - - Total long-term financing obligations $ 15,209,829 $ 16,839,148
Scheduled Principal Payments on Credit Facility	As of October 31, 2016, principal reductions due on the Credit Facility are as follows: November 1, 2016 – October 31, 2017 $ - November 1, 2017 – October 31, 2018 67,223 November 1, 2018 – October 31, 2019 2,500,000 November 1, 2019 – October 31, 2020 1,875,000 November 1, 2020 – November 30, 2020 11,057,777 Total payments 15,500,000 Unamortized debt discount (290,171) Total long-term debt $ 15,209,829

Equity Transactions and Stock24

Equity Transactions and Stock Option Plans (Tables)	6 Months Ended
	Oct. 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 six months ended October 31, 2016 is presented below: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term (Year) Value Outstanding at April 30, 2016 705,000 $ 1.10 Granted - Exercised (9,500) $ 1.37 Forfeited or expired - Outstanding at October 31, 2016 695,500 $ 1.10 5.76 $ 425,895 Exercisable at October 31, 2016 695,500 $ 1.09 5.58 $ 401,895 Available for grant at October 31, 2016 672,400

Computation of Earnings Per S25

Computation of Earnings Per Share (Tables)	6 Months Ended
	Oct. 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 Six Months Ended October 31, October 31, October 31, October 31, 2016 2015 2016 2015 Numerator: Basic and Diluted: Net income available to common shareholders $ 150,022 $ 617,988 $ 50,450 $ 1,075,985 Denominator: Basic weighted average number of common shares outstanding 17,770,013 16,489,409 17,765,367 16,453,307 Dilutive effect of common stock options and warrants 292,842 206,291 297,036 197,849 Diluted weighted average number of common shares outstanding 18,062,855 16,695,700 18,062,403 16,651,156 Net income per common share - basic $ 0.01 $ 0.04 $ 0.00 $ 0.07 Net income per common share - diluted $ 0.01 $ 0.04 $ 0.00 $ 0.07

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Expected Remaining Future Rolling Twelve Months Minimum Lease Payments	The expected remaining future annual minimum lease payments as of October 31, 2016, are as follows: Period Total November 2016-October 2017 $ 3,105,549 November 2017-October 2018 3,091,634 November 2018-October 2019 2,718,242 November 2019-October 2020 2,402,019 November 2020-October 2021 2,012,605 Thereafter 674,569 $ 14,004,618

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Oct. 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, October 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 13,194,470 $ 2,236,868 $ 3,111,434 $ - $ 18,542,772 Casino and food and beverage expense 7,063,865 1,875,635 2,033,473 - 10,972,973 Marketing, administrative and corporate expense 4,115,482 114,710 933,684 724,136 5,888,012 Facility and other expenses 505,090 33,658 79,016 - 617,764 Depreciation and amortization 231,443 156,444 379,780 5,843 773,510 Operating income (loss) 1,278,380 56,127 (319,561) (729,979) 284,967 Assets 27,524,144 3,254,896 18,255,491 6,310,327 55,344,858 Purchase of property and equipment 49,582 21,463 89,561 7,154 167,760 As of, and for the Three Months Ended, October 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 13,727,547 $ 2,406,666 $ - $ - $ 16,134,213 Casino and food and beverage expense 7,154,436 2,070,219 - - 9,224,655 Marketing, administrative and corporate expense 4,056,578 55,278 - 741,642 4,853,498 Facility and other expenses 525,865 29,201 - - 555,066 Depreciation and amortization 332,251 153,362 - 3,096 488,709 Operating income (loss) 1,657,937 97,036 - (744,738) 1,010,235 Assets 28,656,460 4,730,697 - 9,667,264 43,054,421 Purchase of property and equipment 102,533 58,739 - - 161,272 As of, and for the Six Months Ended, October 31, 2016 Washington South Dakota Nevada Corporate Total Net revenue $ 26,264,287 $ 4,179,749 $ 6,395,713 $ - $ 36,839,749 Casino and food and beverage expense 14,172,822 3,566,005 3,991,714 - 21,730,541 Marketing, administrative and corporate expense 8,161,153 235,980 2,037,023 1,520,869 11,955,025 Facility and other expenses 1,008,609 69,610 156,889 - 1,235,108 Depreciation and amortization 486,623 312,657 738,662 12,080 1,550,022 Operating income (loss) 2,434,870 (13,168) (533,616) (1,532,949) 355,137 Assets 27,524,144 3,254,896 18,255,491 6,310,327 55,344,858 Purchase of property and equipment 239,100 21,463 507,126 55,188 822,877 As of, and for the Six Months Ended, October 31, 2015 Washington South Dakota Nevada Corporate Total Net revenue $ 27,491,292 $ 4,585,697 $ - $ - $ 32,076,989 Casino and food and beverage expense 14,559,017 3,974,308 - - 18,533,325 Marketing, administrative and corporate expense 8,186,009 136,402 - 1,491,109 9,813,520 Facility and other expenses 1,031,029 65,191 - - 1,096,220 Depreciation and amortization 688,429 304,882 - 6,192 999,503 Operating income (loss) 3,192,695 100,457 - (1,497,301) 1,795,851 Assets 28,656,460 4,730,697 - 9,667,264 43,054,421 Purchase of property and equipment 198,930 78,555 - - 277,485

Estimated Cost of Complimentary

Estimated Cost of Complimentary Services (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Significant Accounting Policies [Line Items]
Food and beverage	$ 1,600,587	$ 845,540	$ 3,137,705	$ 1,692,093
Other	53,004	32,933	111,249	65,357
Total cost of complimentary services	$ 1,653,591	$ 878,473	$ 3,248,954	$ 1,757,450

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,518,888	$ 1,433,728

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) - USD ($)	1 Months Ended
	May 25, 2012	Jun. 01, 2017	Nov. 01, 2016	Oct. 31, 2016	Apr. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable				$ 628,429	$ 1,109,069
Colorado Grande Casino
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable	$ 2,325,000
Notes receivable, maturity date	Jun. 1, 2017
Notes receivable, interest rate	6.00%
Colorado Grande Casino | Scenario, Forecast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note receivable, accrued interest		$ 398,369
Fourth Installment | Colorado Grande Casino | Subsequent Event [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note receivable, accrued interest			$ 40,000

Change in Carrying Amount of Go

Change in Carrying Amount of Goodwill and Other Intangibles (Detail)	6 Months Ended
	Oct. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016	$ 23,029,040
Current year amortization	(444,636)
Gaming license refund	(24,946)
Balance as of October 31, 2016	22,559,458
Goodwill
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016	18,025,059
Current year amortization	0
Gaming license refund	0
Balance as of October 31, 2016	18,025,059
Other intangibles, net
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016	5,003,981
Current year amortization	(444,636)
Gaming license refund	(24,946)
Balance as of October 31, 2016	$ 4,534,399

Goodwill and Net Other Intangib

Goodwill and Net Other Intangibles by Segment (Detail)	Oct. 31, 2016USD ($)
Goodwill [Line Items]
Goodwill and other intangible assets	$ 22,559,458
Washington
Goodwill [Line Items]
Goodwill and other intangible assets	16,421,470
South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	1,455,042
Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	4,270,442
Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	412,504
Other Intangibles, net
Goodwill [Line Items]
Goodwill and other intangible assets	4,534,399
Other Intangibles, net | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	2,329,316
Other Intangibles, net | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	353,571
Other Intangibles, net | Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	1,439,008
Other Intangibles, net | Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	412,504
Goodwill
Goodwill [Line Items]
Goodwill and other intangible assets	18,025,059
Goodwill | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	14,092,154
Goodwill | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	1,101,471
Goodwill | Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	2,831,434
Goodwill | Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	$ 0

Summary of Intangible Assets an

Summary of Intangible Assets and Accumulated Amortization (Detail)	Oct. 31, 2016USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,976,825
Accumulated Amortization	(8,442,426)
Net	4,534,399
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,673,321
Accumulated Amortization	(7,139,815)
Net	1,533,506
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,379,000
Accumulated Amortization	(1,302,611)
Net	76,389
State gaming registration
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	412,504
Accumulated Amortization	0
Net	412,504
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)	Oct. 31, 2016USD ($)
Expected Amortization Expense [Line Items]
Total	$ 4,534,399
Customer relationships and Non-compete agreements
Expected Amortization Expense [Line Items]
November 2016-October 2017	733,325
November 2017-October 2018	355,896
November 2018-October 2019	159,484
November 2019-October 2020	117,143
November 2020-October 2021	117,143
Thereafter	126,904
Total	$ 1,609,895

Goodwill and Intangible Asset35

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill and identifiable intangible in connection with acquisitions of the Washington mini-casinos	$ 22,559,458	$ 23,029,040
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

Property and Equipment (Detail)

Property and Equipment (Detail) - USD ($)	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 21,506,560	$ 20,788,794
Less accumulated depreciation	(6,655,924)	(5,641,733)
Property and equipment, net	14,850,636	15,147,061
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,556,824	1,439,720
Leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Gaming Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 5,329,539	5,247,574
Gaming Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Gaming Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 4,470,246	4,190,901
Furniture and office equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Furniture and office equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Building and improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 7,762,201	7,440,577
Building and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Building and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,387,750	2,387,750
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 0	$ 82,272

Long-Term Financing Obligations

Long-Term Financing Obligations (Detail) - USD ($)	Oct. 31, 2016	Apr. 30, 2016
Debt Instrument [Line Items]
Less: current portion	$ 0	$ 0
Total long-term financing obligations	15,209,829	16,839,148
Revolving Credit One
Debt Instrument [Line Items]
$23.0 million reducing revolving credit agreement, LIBOR plus an Applicable Margin, $625,000 quarterly reductions beginning January 31, 2016 through November 30, 2020, and the remaining principal due on the maturity date of November 30, 2020.	$ 15,209,829	$ 16,839,148

Long-Term Financing Obligatio38

Long-Term Financing Obligations (Parenthetical) (Detail) - Long-term Debt [Member] - Revolving Credit One	6 Months Ended
	Oct. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 23,000,000
Debt Instrument Maturity Date	Nov. 30, 2020
January 31, 2016 through November 30, 2020
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment	$ 625,000

Schedule of Principal Payments

Schedule of Principal Payments on Credit Facility (Detail) - USD ($)	6 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Line of Credit Facility [Line Items]
Total payments	$ 15,500,000
Unamortized debt discount	(290,171)
Total long-term debt	15,209,829	$ 16,839,148
November 1, 2016 - October 31, 2017
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	0
November 1, 2017 - October 31, 2018
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	67,223
November 1, 2018 - October 31, 2019
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	2,500,000
November 1, 2019 - October 31, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	1,875,000
November 1, 2020 - November 30, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	$ 11,057,777

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Oct. 31, 2016	Nov. 30, 2015
Debt Disclosure [Line Items]
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	3.526%
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	$ 4.9
Line of Credit Facility, Periodic Payment, Principal	$ 1

Interest Rate Swap - Additional

Interest Rate Swap - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2016	Apr. 30, 2016
Interest Rate Swap [Line Items]
Derivative, Notional Amount	$ 10,250,000	$ 10,250,000
Derivative, Variable Interest Rate	1.77%	1.77%
Derivative, Swaption Interest Rate	4.27%	4.27%
Percentage Of Initial Floating Index		0.529%
Increase Decrease In Interest Rate Swap	$ 97,176	$ 46,462
Other Long-term Debt, Total	$ 240,270	$ 240,270	$ 286,731

Summary of Activity under Share

Summary of Activity under Share-Based Payment Plans (Detail)	6 Months Ended
	Oct. 31, 2016USD ($)$ / sharesshares
Options
Outstanding	705,000
Granted	0
Exercised	(9,500)
Forfeited or expired	0
Outstanding	695,500
Exercisable	695,500
Available for grant	672,400
Weighted Average Exercise Price
Outstanding | $ / shares	$ 1.10
Exercised | $ / shares	1.37
Outstanding | $ / shares	1.10
Exercisable | $ / shares	$ 1.09
Weighted Average Remaining Contractual Term (Year)
Outstanding	5 years 9 months 4 days
Exercisable	5 years 6 months 29 days
Aggregate Intrinsic Value
Outstanding | $	$ 425,895
Exercisable | $	$ 401,895

Equity Transactions and Stock43

Equity Transactions and Stock Option Plans - Additional Information (Detail) - USD ($)	Oct. 11, 2010	Jul. 31, 2016	Oct. 31, 2016	Oct. 31, 2016	Apr. 14, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for Repurchase of Common Stock		$ 2,000,000	$ 351,965
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation			189,788
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 1.81
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options			$ 6,722	$ 6,722
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year
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
2009 Plan | Stock option rights granted prior to fiscal year 2006 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options terms				5 years
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
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
Stock options terms	5 years
Employee stock purchase, purchase price as percentage of fair market value	90.00%
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Jan. 1, 2016

Reconciliation of Numerators an

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Basic and Diluted:
Net income available to common shareholders	$ 150,022	$ 617,988	$ 50,450	$ 1,075,985
Denominator:
Basic weighted average number of common shares outstanding	17,770,013	16,489,409	17,765,367	16,453,307
Dilutive effect of common stock options and warrants	292,842	206,291	297,036	197,849
Diluted weighted average number of common shares outstanding	18,062,855	16,695,700	18,062,403	16,651,156
Net income per common share - basic	$ 0.01	$ 0.04	$ 0	$ 0.07
Net income per common share - diluted	$ 0.01	$ 0.04	$ 0	$ 0.07

Expected Remaining Future Rolli

Expected Remaining Future Rolling Twelve Months Minimum Lease Payments (Detail)	Oct. 31, 2016USD ($)
Schedule of Operating Leases [Line Items]
November 2016-October 2017	$ 3,105,549
November 2017-October 2018	3,091,634
November 2018-October 2019	2,718,242
November 2019-October 2020	2,402,019
November 2020-October 2021	2,012,605
Thereafter	674,569
Total	$ 14,004,618

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 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	32.00%	33.00%	31.00%	33.00%
Deferred Income Tax Assets, Net	$ 2.3		$ 2.3
Deferred Tax Assets, Other	$ 7.8		$ 7.8

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Washington
Segment Reporting Information [Line Items]
Net revenue	$ 13,194,470	$ 13,727,547	$ 26,264,287	$ 27,491,292
Casino and food and beverage expense	7,063,865	7,154,436	14,172,822	14,559,017
Marketing, administrative and corporate expense	4,115,482	4,056,578	8,161,153	8,186,009
Facility and other expenses	505,090	525,865	1,008,609	1,031,029
Depreciation and amortization	231,443	332,251	486,623	688,429
Operating income (loss)	1,278,380	1,657,937	2,434,870	3,192,695
Assets	27,524,144	28,656,460	27,524,144	28,656,460
Purchase of property and equipment	49,582	102,533	239,100	198,930
South Dakota
Segment Reporting Information [Line Items]
Net revenue	2,236,868	2,406,666	4,179,749	4,585,697
Casino and food and beverage expense	1,875,635	2,070,219	3,566,005	3,974,308
Marketing, administrative and corporate expense	114,710	55,278	235,980	136,402
Facility and other expenses	33,658	29,201	69,610	65,191
Depreciation and amortization	156,444	153,362	312,657	304,882
Operating income (loss)	56,127	97,036	(13,168)	100,457
Assets	3,254,896	4,730,697	3,254,896	4,730,697
Purchase of property and equipment	21,463	58,739	21,463	78,555
Nevada
Segment Reporting Information [Line Items]
Net revenue	3,111,434	0	6,395,713	0
Casino and food and beverage expense	2,033,473	0	3,991,714	0
Marketing, administrative and corporate expense	933,684	0	2,037,023	0
Facility and other expenses	79,016	0	156,889	0
Depreciation and amortization	379,780	0	738,662	0
Operating income (loss)	(319,561)	0	(533,616)	0
Assets	18,255,491	0	18,255,491	0
Purchase of property and equipment	89,561	0	507,126	0
Corporate
Segment Reporting Information [Line Items]
Net revenue	0	0	0	0
Casino and food and beverage expense	0	0	0	0
Marketing, administrative and corporate expense	724,136	741,642	1,520,869	1,491,109
Facility and other expenses	0	0	0	0
Depreciation and amortization	5,843	3,096	12,080	6,192
Operating income (loss)	(729,979)	(744,738)	(1,532,949)	(1,497,301)
Assets	6,310,327	9,667,264	6,310,327	9,667,264
Purchase of property and equipment	7,154	0	55,188	0
Total
Segment Reporting Information [Line Items]
Net revenue	18,542,772	16,134,213	36,839,749	32,076,989
Casino and food and beverage expense	10,972,973	9,224,655	21,730,541	18,533,325
Marketing, administrative and corporate expense	5,888,012	4,853,498	11,955,025	9,813,520
Facility and other expenses	617,764	555,066	1,235,108	1,096,220
Depreciation and amortization	773,510	488,709	1,550,022	999,503
Operating income (loss)	284,967	1,010,235	355,137	1,795,851
Assets	55,344,858	43,054,421	55,344,858	43,054,421
Purchase of property and equipment	$ 167,760	$ 161,272	$ 822,877	$ 277,485