Nevada Gold & Casinos (UWN) 10-Q 16 Mar 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jan. 31, 2017	Mar. 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2017
Document Fiscal Year Focus	2,017
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		17,584,354

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jan. 31, 2017	Apr. 30, 2016
Current assets:
Cash and cash equivalents	$ 9,583,671	$ 11,583,107
Restricted cash	1,722,247	1,433,728
Accounts receivable, net of allowances	362,644	665,549
Prepaid expenses	1,338,878	1,206,825
Notes receivable, current portion	499,361	208,294
Inventory and other current assets	415,773	416,022
Total current assets	13,922,574	15,513,525
Real estate held for sale	750,000	750,000
Notes receivable, net of current portion	4,650	900,775
Goodwill	16,923,588	18,025,059
Intangible assets, net of accumulated amortization	4,320,863	5,003,981
Property and equipment, net of accumulated depreciation	14,384,547	15,147,061
Deferred tax asset	2,135,707	2,348,299
Other assets	70,000	70,000
Total assets	52,511,929	57,758,700
Current liabilities:
Accounts payable and accrued liabilities	1,361,973	1,702,366
Accrued payroll and related	1,250,576	2,094,250
Accrued player's club points and progressive jackpots	2,085,896	1,872,566
Total current liabilities	4,698,445	5,669,182
Long-term debt	13,735,976	16,839,148
Other long-term liabilities	685,807	881,426
Total liabilities	19,120,228	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 17,584,354 and 17,788,856 shares outstanding at January 31, 2017, and April 30, 2016, respectively	2,235,028	2,228,612
Additional paid-in capital	27,441,270	27,315,517
Retained earnings	11,124,254	11,756,850
Treasury stock, 1,040,813 and 782,837 shares at January 31, 2017 and April 30, 2016, respectively, at cost	(7,408,851)	(6,932,035)
Total stockholders' equity	33,391,701	34,368,944
Total liabilities and stockholders' equity	$ 52,511,929	$ 57,758,700

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2017	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	17,584,354	17,788,856
Treasury stock, shares	1,040,813	782,837

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Revenues:
Casino	$ 15,791,598	$ 16,217,164	$ 48,441,682	$ 44,578,057
Food and beverage	3,383,641	3,294,142	10,014,949	8,216,330
Other	534,011	529,568	1,622,271	1,437,452
Gross revenues	19,709,250	20,040,874	60,078,902	54,231,839
Less promotional allowances	(1,722,078)	(1,680,127)	(5,251,980)	(3,794,103)
Net revenues	17,987,172	18,360,747	54,826,922	50,437,736
Expenses:
Casino	8,612,371	8,323,508	27,327,792	24,128,321
Food and beverage	1,573,445	1,508,918	4,588,565	4,117,607
Other	61,112	76,050	215,515	179,965
Marketing and administrative	5,149,807	4,886,618	15,583,962	13,335,935
Facility	547,123	524,892	1,627,828	1,510,113
Corporate	627,553	1,121,138	2,148,422	2,612,247
Depreciation and amortization	756,606	739,699	2,306,628	1,739,202
Loss (gain) on disposal of assets	42,574	(2,271)	56,490	(163,702)
Impairment of goodwill	1,101,471	0	1,101,471	0
Total operating expenses	18,472,062	17,178,552	54,956,673	47,459,688
Operating (loss) income	(484,890)	1,182,195	(129,751)	2,978,048
Non-operating income (expenses):
Interest income	19,149	22,794	65,241	73,424
Interest expense and amortization of loan issue costs	(178,100)	(187,894)	(482,432)	(401,514)
Interest rate swap expense	(29,526)	(21,006)	(99,582)	(51,332)
Change in swap fair value	180,059	(246,146)	226,520	(244,062)
(Loss) income before income tax expense	(493,308)	749,943	(420,004)	2,354,564
Income tax expense	(189,738)	(283,592)	(212,592)	(812,226)
Net (loss) income	$ (683,046)	$ 466,351	$ (632,596)	$ 1,542,338
Per share information:
Net (loss) income per common share - basic and diluted (in dollars per share)	$ (0.04)	$ 0.03	$ (0.04)	$ 0.09

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities:
Net (loss) income	$ (632,596)	$ 1,542,338
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,306,628	1,739,202
Stock compensation	117,393	140,669
Amortization of deferred loan issuance costs	69,608	104,329
Change in deferred rent	30,899	24,502
Impairment of goodwill	1,101,471	0
Changes to restricted cash	(288,519)	198,636
Change in swap fair value	(226,520)	244,062
Write-off of licensing costs	0	54,729
Loss (gain) on disposal of assets	56,490	(163,702)
Changes in deferred income taxes	212,592	812,226
Other	0	1,524
Changes in operating assets and liabilities:
Receivables and other assets	171,101	(1,432,555)
Accounts payable and accrued liabilities	(969,001)	(656,293)
Net cash provided by operating activities	1,949,546	2,609,667
Cash flows from investing activities:
Club Fortune acquisition, net of cash acquired	0	(13,840,967)
Collections on notes receivable	605,058	438,502
Purchase of property and equipment	(942,933)	(400,742)
Capitalized licensing costs refunded (paid)	24,946	(96,935)
Proceeds from the sale of assets	500	305,820
Net cash used in investing activities	(312,429)	(13,594,322)
Cash flows from financing activities:
Purchase of treasury stock	(476,816)	0
Repayment of credit facilities	(3,172,777)	(4,110,000)
Employee stock plan purchases	0	41,810
Proceeds from credit facilities	0	15,500,000
Repayment of capital lease	0	(170,391)
Deferred loan issuance costs	0	(186,528)
Cash proceeds from exercise of stock options	13,040	190,250
Net cash (used in) provided by financing activities	(3,636,553)	11,265,141
Net (decrease) increase in cash and cash equivalents	(1,999,436)	280,486
Cash and cash equivalents at beginning of period	11,583,107	8,541,670
Cash and cash equivalents at end of period	9,583,671	8,822,156
Supplemental cash flow information:
Cash paid for interest	528,532	310,786
Non-cash investing and financing activities:
Issuance of stock to finance Club Fortune acquisition	$ 0	$ 2,202,382

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2017
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 January 31, 2017 and April 30, 2016, condensed consolidated statements of operations for the three and nine months ended January 31, 2017 and 2016, and condensed consolidated statements of cash flows for the nine months ended January 31, 2017 and 2016. 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 nine months ended January 31, 2017 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 between the operating expenses of casino, food and beverage, other and marketing and administrative 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	9 Months Ended
	Jan. 31, 2017
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. 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, 2017 2016 2017 2016 Food and beverage $ 1,508,443 $ 1,170,089 $ 4,646,134 $ 2,750,283 Other 48,609 46,205 159,824 112,000 Total cost of complimentary services $ 1,557,052 $ 1,216,294 $ 4,805,958 $ 2,862,283 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	9 Months Ended
	Jan. 31, 2017
Restricted Cash and Investments [Abstract]
Restricted Cash	Note 3. Restricted Cash As of January 31, 2017 and April 30, 2016, we maintained $ 1,722,247 1,433,728

Notes Receivable

Notes Receivable	9 Months Ended
	Jan. 31, 2017
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Notes Receivable	Note 4. Notes Receivable As of January 31, 2017, and April 30, 2016, we had net notes receivable of $ 504,011 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 January 31, 2017, the remaining principal and interest payments are scheduled to be made as follows: ⋅ Beginning February 1, 2017, four monthly installments of principal and accrued interest of $ 40,000 ⋅ A final installment of $ 347,120

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jan. 31, 2017
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 $ 21,244,451 Other Total Goodwill Intangibles, net Balance as of April 30, 2016 $ 23,029,040 $ 18,025,059 $ 5,003,981 Current year amortization (658,172) - (658,172) State gaming registration refund (24,946) - (24,946) Impairment of South Dakota (1,101,471) (1,101,471) - Balance as of January 31, 2017 $ 21,244,451 $ 16,923,588 $ 4,320,863 Total Goodwill Other Intangibles, net Washington $ 16,285,672 $ 14,092,154 $ 2,193,518 South Dakota 314,286 - 314,286 Nevada 4,231,989 2,831,434 1,400,555 Corporate 412,504 - 412,504 Total $ 21,244,451 $ 16,923,588 $ 4,320,863 Gross Carrying Accumulated Amount Amortization Net Customer relationships $ 8,673,321 $ (7,344,184) $ 1,329,137 Non-compete agreements 1,379,000 (1,311,778) 67,222 State gaming registration 412,504 - 412,504 Trade names 2,512,000 - 2,512,000 Total $ 12,976,825 $ (8,655,962) $ 4,320,863 7.0 3.0 Period Amount February 2017-January 2018 $ 612,509 February 2018-January 2019 334,803 February 2019-January 2020 117,143 February 2020-January 2021 117,143 February 2021-January 2022 117,143 Thereafter 97,618 Total $ 1,396,359 Goodwill represents the excess of the purchase price over the fair market value of net assets acquired. Goodwill for our South Dakota operations was $ 1.1 1.1 14 0 2

Property and Equipment

Property and Equipment	9 Months Ended
	Jan. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Estimated January 31, April 30, Service Life 2017 2016 in Years Leasehold improvements $ 1,556,824 $ 1,439,720 7-20 Gaming equipment 5,359,541 5,247,574 3-5 Furniture and office equipment 4,496,705 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 21,563,021 20,788,794 Less accumulated depreciation (7,178,474) (5,641,733) Property and equipment, net $ 14,384,547 $ 15,147,061

Long-Term Debt

Long-Term Debt	9 Months Ended
	Jan. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Note 7. Long-Term Debt January 31, April 30, 2017 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. $ 13,735,976 $ 16,839,148 Less: current portion - - Total long-term financing obligations $ 13,735,976 $ 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 3.27 50 February 1, 2017 – January 31, 2018 $ - February 1, 2018 – January 31, 2019 - February 1, 2019 – January 31, 2020 1,692,223 February 1, 2020 – November 30, 2020 12,307,777 Total payments 14,000,000 Unamortized debt discount (264,024) Total long-term debt $ 13,735,976 The unamortized debt discount above consists of debt costs paid directly to the lender. The discount is amortized using the effective interest method over the period of the Credit Facility through interest expense. During the current quarter, we paid $ 1.5 5.8 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, 2017
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, 2017, the Company had one outstanding interest rate swap with MOOB with a notional amount of $ 9,937,500 1.76 4.26 0.763 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, 2017, we recorded a $ 180,059 226,520 60,211 286,731

Equity Transactions and Stock O

Equity Transactions and Stock Option Plans	9 Months Ended
	Jan. 31, 2017
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 January 31, 2017 695,500 $ 1.10 5.5 $ 606,725 Exercisable at January 31, 2017 695,500 $ 1.10 5.5 $ 606,725 Available for grant at January 31, 2017 672,400 As of January 31, 2017, there was no unamortized compensation cost related to stock options. Also, as of January 31, 2017, there was $ 12,026 1.8 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 68,188 1.94 135,171 257,976 1.85 487,136

Computation of Earnings Per Sha

Computation of Earnings Per Share	9 Months Ended
	Jan. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Computation of Earnings Per Share Three Months Ended Nine Months Ended January 31, January 31, January 31, January 31, 2017 2016 2017 2016 Numerator: Basic and Diluted: Net (loss) income available to common shareholders $ (683,046) $ 466,351 $ (632,596) $ 1,542,338 Denominator: Basic weighted average number of common shares outstanding 17,648,165 17,349,217 17,723,382 16,751,944 Dilutive effect of common stock options and warrants 275,143 295,509 290,712 260,266 Diluted weighted average number of common shares outstanding 17,923,308 17,644,726 18,014,094 17,012,210 Net (loss) income per common share - basic and diluted $ (0.04) $ 0.03 $ (0.04) $ 0.09

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2017
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 February 2017-January 2018 $ 3,098,328 February 2018-January 2019 3,076,065 February 2019-January 2020 2,548,847 February 2020-January 2021 2,419,455 February 2021-January 2022 1,799,350 Thereafter 279,982 $ 13,222,027 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, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes For the three months ended January 31, 2017 and 2016, our effective tax rates were -38 36 -51 34 34 At January 31, 2017, we have $ 2.1 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, 2017
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 and nine months ended January 31, 2017, the Washington segment consists of the Washington mini-casinos, the South Dakota segment consists of our slot route operation in South Dakota, the 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, January 31, 2017 Washington South Dakota Nevada Corporate Total Net revenues $ 13,235,037 $ 1,159,964 $ 3,592,171 $ - $ 17,987,172 Casino and food and beverage expense 7,005,995 1,143,713 2,036,108 - 10,185,816 Marketing, administrative and corporate expense 4,158,224 99,131 892,452 627,553 5,777,360 Facility and other expenses 492,572 28,265 87,398 - 608,235 Depreciation and amortization 231,294 139,416 379,223 6,673 756,606 Operating income (loss) 1,344,849 (1,352,047) 156,533 (634,225) (484,890) Assets 27,181,165 1,927,133 17,314,523 6,089,108 52,511,929 Purchase of property and equipment 84,631 5,413 30,012 - 120,056 As of, and for the Three Months Ended, January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenues $ 14,647,144 $ 1,334,391 $ 2,379,212 $ - $ 18,360,747 Casino and food and beverage expense 7,263,022 1,239,246 1,330,158 - 9,832,426 Marketing, administrative and corporate expense 4,093,537 126,829 666,252 1,121,138 6,007,756 Facility and other expenses 513,782 31,360 55,800 - 600,942 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 Nine Months Ended, January 31, 2017 Washington South Dakota Nevada Corporate Total Net revenues $ 39,499,326 $ 5,339,712 $ 9,987,884 $ - $ 54,826,922 Casino and food and beverage expense 21,191,324 4,709,717 6,015,316 - 31,916,357 Marketing, administrative and corporate expense 12,319,376 335,111 2,929,475 2,148,422 17,732,384 Facility and other expenses 1,488,674 97,875 256,794 - 1,843,343 Depreciation and amortization 717,917 452,073 1,117,885 18,753 2,306,628 Operating income (loss) 3,779,722 (1,365,215) (377,083) (2,167,175) (129,751) Assets 27,181,165 1,927,133 17,314,523 6,089,108 52,511,929 Purchase of property and equipment 323,731 26,876 537,138 55,188 942,933 As of, and for the Nine Months Ended, January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenues $ 42,138,437 $ 5,920,087 $ 2,379,212 $ - $ 50,437,736 Casino and food and beverage expense 21,829,124 5,086,646 1,330,158 - 28,245,928 Marketing, administrative and corporate expense 12,279,544 390,139 666,252 2,612,247 15,948,182 Facility and other expenses 1,537,727 96,551 55,800 - 1,690,078 Depreciation and amortization 1,028,465 461,090 240,360 9,287 1,739,202 Operating income (loss) 5,627,640 (119,999) 91,941 (2,621,534) 2,978,048 Assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 311,096 82,233 7,413 - 400,742

Critical Accounting Policies (P

Critical Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2017
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. 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, 2017 2016 2017 2016 Food and beverage $ 1,508,443 $ 1,170,089 $ 4,646,134 $ 2,750,283 Other 48,609 46,205 159,824 112,000 Total cost of complimentary services $ 1,557,052 $ 1,216,294 $ 4,805,958 $ 2,862,283
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)	9 Months Ended
	Jan. 31, 2017
Accounting Policies [Abstract]
Schedule Of Cost Of Revenue	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. 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, 2017 2016 2017 2016 Food and beverage $ 1,508,443 $ 1,170,089 $ 4,646,134 $ 2,750,283 Other 48,609 46,205 159,824 112,000 Total cost of complimentary services $ 1,557,052 $ 1,216,294 $ 4,805,958 $ 2,862,283

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2017
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, 2017, is as follows: Other Total Goodwill Intangibles, net Balance as of April 30, 2016 $ 23,029,040 $ 18,025,059 $ 5,003,981 Current year amortization (658,172) - (658,172) State gaming registration refund (24,946) - (24,946) Impairment of South Dakota (1,101,471) (1,101,471) - Balance as of January 31, 2017 $ 21,244,451 $ 16,923,588 $ 4,320,863
Goodwill and Net Other Intangibles by Segment	Goodwill and net intangibles assets by segment as of January 31, 2017, are as follows: Total Goodwill Other Intangibles, net Washington $ 16,285,672 $ 14,092,154 $ 2,193,518 South Dakota 314,286 - 314,286 Nevada 4,231,989 2,831,434 1,400,555 Corporate 412,504 - 412,504 Total $ 21,244,451 $ 16,923,588 $ 4,320,863
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 January 31, 2017, are as follows: Gross Carrying Accumulated Amount Amortization Net Customer relationships $ 8,673,321 $ (7,344,184) $ 1,329,137 Non-compete agreements 1,379,000 (1,311,778) 67,222 State gaming registration 412,504 - 412,504 Trade names 2,512,000 - 2,512,000 Total $ 12,976,825 $ (8,655,962) $ 4,320,863
Estimated Future Annual Amortization of Intangible Assets	The weighted average useful life of acquired intangibles is 7.0 3.0 Period Amount February 2017-January 2018 $ 612,509 February 2018-January 2019 334,803 February 2019-January 2020 117,143 February 2020-January 2021 117,143 February 2021-January 2022 117,143 Thereafter 97,618 Total $ 1,396,359

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Jan. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment at January 31, 2017 and April 30, 2016, consist of the following: Estimated January 31, April 30, Service Life 2017 2016 in Years Leasehold improvements $ 1,556,824 $ 1,439,720 7-20 Gaming equipment 5,359,541 5,247,574 3-5 Furniture and office equipment 4,496,705 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 21,563,021 20,788,794 Less accumulated depreciation (7,178,474) (5,641,733) Property and equipment, net $ 14,384,547 $ 15,147,061

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jan. 31, 2017
Debt Disclosure [Abstract]
Long-Term Financing Obligations	Our long-term financing obligations are as follows: January 31, April 30, 2017 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. $ 13,735,976 $ 16,839,148 Less: current portion - - Total long-term financing obligations $ 13,735,976 $ 16,839,148
Scheduled Principal Payments on Credit Facility	As of January 31, 2017, principal reductions due on the Credit Facility are as follows: February 1, 2017 – January 31, 2018 $ - February 1, 2018 – January 31, 2019 - February 1, 2019 – January 31, 2020 1,692,223 February 1, 2020 – November 30, 2020 12,307,777 Total payments 14,000,000 Unamortized debt discount (264,024) Total long-term debt $ 13,735,976

Equity Transactions and Stock24

Equity Transactions and Stock Option Plans (Tables)	9 Months Ended
	Jan. 31, 2017
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, 2017 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 January 31, 2017 695,500 $ 1.10 5.5 $ 606,725 Exercisable at January 31, 2017 695,500 $ 1.10 5.5 $ 606,725 Available for grant at January 31, 2017 672,400

Computation of Earnings Per S25

Computation of Earnings Per Share (Tables)	9 Months Ended
	Jan. 31, 2017
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, 2017 2016 2017 2016 Numerator: Basic and Diluted: Net (loss) income available to common shareholders $ (683,046) $ 466,351 $ (632,596) $ 1,542,338 Denominator: Basic weighted average number of common shares outstanding 17,648,165 17,349,217 17,723,382 16,751,944 Dilutive effect of common stock options and warrants 275,143 295,509 290,712 260,266 Diluted weighted average number of common shares outstanding 17,923,308 17,644,726 18,014,094 17,012,210 Net (loss) income per common share - basic and diluted $ (0.04) $ 0.03 $ (0.04) $ 0.09

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Jan. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Expected Remaining Future Rolling Twelve Months Minimum Lease Payments	The expected remaining future annual minimum lease payments as of January 31, 2017, are as follows: Period Total February 2017-January 2018 $ 3,098,328 February 2018-January 2019 3,076,065 February 2019-January 2020 2,548,847 February 2020-January 2021 2,419,455 February 2021-January 2022 1,799,350 Thereafter 279,982 $ 13,222,027

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jan. 31, 2017
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, 2017 Washington South Dakota Nevada Corporate Total Net revenues $ 13,235,037 $ 1,159,964 $ 3,592,171 $ - $ 17,987,172 Casino and food and beverage expense 7,005,995 1,143,713 2,036,108 - 10,185,816 Marketing, administrative and corporate expense 4,158,224 99,131 892,452 627,553 5,777,360 Facility and other expenses 492,572 28,265 87,398 - 608,235 Depreciation and amortization 231,294 139,416 379,223 6,673 756,606 Operating income (loss) 1,344,849 (1,352,047) 156,533 (634,225) (484,890) Assets 27,181,165 1,927,133 17,314,523 6,089,108 52,511,929 Purchase of property and equipment 84,631 5,413 30,012 - 120,056 As of, and for the Three Months Ended, January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenues $ 14,647,144 $ 1,334,391 $ 2,379,212 $ - $ 18,360,747 Casino and food and beverage expense 7,263,022 1,239,246 1,330,158 - 9,832,426 Marketing, administrative and corporate expense 4,093,537 126,829 666,252 1,121,138 6,007,756 Facility and other expenses 513,782 31,360 55,800 - 600,942 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 Nine Months Ended, January 31, 2017 Washington South Dakota Nevada Corporate Total Net revenues $ 39,499,326 $ 5,339,712 $ 9,987,884 $ - $ 54,826,922 Casino and food and beverage expense 21,191,324 4,709,717 6,015,316 - 31,916,357 Marketing, administrative and corporate expense 12,319,376 335,111 2,929,475 2,148,422 17,732,384 Facility and other expenses 1,488,674 97,875 256,794 - 1,843,343 Depreciation and amortization 717,917 452,073 1,117,885 18,753 2,306,628 Operating income (loss) 3,779,722 (1,365,215) (377,083) (2,167,175) (129,751) Assets 27,181,165 1,927,133 17,314,523 6,089,108 52,511,929 Purchase of property and equipment 323,731 26,876 537,138 55,188 942,933 As of, and for the Nine Months Ended, January 31, 2016 Washington South Dakota Nevada Corporate Total Net revenues $ 42,138,437 $ 5,920,087 $ 2,379,212 $ - $ 50,437,736 Casino and food and beverage expense 21,829,124 5,086,646 1,330,158 - 28,245,928 Marketing, administrative and corporate expense 12,279,544 390,139 666,252 2,612,247 15,948,182 Facility and other expenses 1,537,727 96,551 55,800 - 1,690,078 Depreciation and amortization 1,028,465 461,090 240,360 9,287 1,739,202 Operating income (loss) 5,627,640 (119,999) 91,941 (2,621,534) 2,978,048 Assets 28,436,653 4,295,587 18,054,786 7,953,483 58,740,509 Purchase of property and equipment 311,096 82,233 7,413 - 400,742

Estimated Cost of Complimentary

Estimated Cost of Complimentary Services (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Significant Accounting Policies [Line Items]
Food and beverage	$ 1,508,443	$ 1,170,089	$ 4,646,134	$ 2,750,283
Other	48,609	46,205	159,824	112,000
Total cost of complimentary services	$ 1,557,052	$ 1,216,294	$ 4,805,958	$ 2,862,283

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) - USD ($)	Jan. 31, 2017	Apr. 30, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,722,247	$ 1,433,728

Notes Receivable - Additional I

Notes Receivable - Additional Information (Detail) - USD ($)	1 Months Ended
	May 25, 2012	Jun. 01, 2017	Feb. 01, 2017	Jan. 31, 2017	Apr. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable				$ 504,011	$ 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
Accounts, Notes, Loans and Financing Receivable [Line Items]
Promissory note receivable, accrued interest		$ 347,120
Fourth Installment | Colorado Grande Casino | Subsequent Event
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) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016			$ 23,029,040
Current year amortization			(658,172)
State gaming registration refund			(24,946)
Impairment of South Dakota	$ (1,101,471)	$ 0	(1,101,471)	$ 0
Balance as of January 31, 2017	21,244,451		21,244,451
Goodwill
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016			18,025,059
Current year amortization			0
State gaming registration refund			0
Impairment of South Dakota			(1,101,471)
Balance as of January 31, 2017	16,923,588		16,923,588
Other Intangibles, net
Goodwill and Intangible Assets Disclosure [Line Items]
Balance as of April 30, 2016			5,003,981
Current year amortization			(658,172)
State gaming registration refund			(24,946)
Impairment of South Dakota			0
Balance as of January 31, 2017	$ 4,320,863		$ 4,320,863

Goodwill and Net Other Intangib

Goodwill and Net Other Intangibles by Segment (Detail)	Jan. 31, 2017USD ($)
Goodwill [Line Items]
Goodwill and other intangible assets	$ 21,244,451
Washington
Goodwill [Line Items]
Goodwill and other intangible assets	16,285,672
South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	314,286
Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	4,231,989
Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	412,504
Other Intangibles, net
Goodwill [Line Items]
Goodwill and other intangible assets	4,320,863
Other Intangibles, net | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	2,193,518
Other Intangibles, net | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	314,286
Other Intangibles, net | Nevada
Goodwill [Line Items]
Goodwill and other intangible assets	1,400,555
Other Intangibles, net | Corporate
Goodwill [Line Items]
Goodwill and other intangible assets	412,504
Goodwill
Goodwill [Line Items]
Goodwill and other intangible assets	16,923,588
Goodwill | Washington
Goodwill [Line Items]
Goodwill and other intangible assets	14,092,154
Goodwill | South Dakota
Goodwill [Line Items]
Goodwill and other intangible assets	0
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)	Jan. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,976,825
Accumulated Amortization	(8,655,962)
Net	4,320,863
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,673,321
Accumulated Amortization	(7,344,184)
Net	1,329,137
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,379,000
Accumulated Amortization	(1,311,778)
Net	67,222
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)	Jan. 31, 2017USD ($)
Expected Amortization Expense [Line Items]
Total	$ 4,320,863
Customer relationships and Non-compete agreements
Expected Amortization Expense [Line Items]
February 2017-January 2018	612,509
February 2018-January 2019	334,803
February 2019-January 2020	117,143
February 2020-January 2021	117,143
February 2021-January 2022	117,143
Thereafter	97,618
Total	$ 1,396,359

Goodwill and Intangible Asset35

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 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	$ 21,244,451		$ 21,244,451		$ 23,029,040
Goodwill	16,923,588		16,923,588		18,025,059
Goodwill, Impairment Loss	$ 1,101,471	$ 0	$ 1,101,471	$ 0
Fair Value, Inputs, Level 3 [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Fair Value Inputs, Discount Rate	14.00%
Fair Value, Inputs, Level 3 [Member] | Maximum [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Fair Value Inputs, Long-term Revenue Growth Rate	2.00%
Fair Value, Inputs, Level 3 [Member] | Minimum [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Fair Value Inputs, Long-term Revenue Growth Rate	0.00%
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
South Dakota Gold
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill					$ 1,100,000

Property and Equipment (Detail)

Property and Equipment (Detail) - USD ($)	9 Months Ended
	Jan. 31, 2017	Apr. 30, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 21,563,021	$ 20,788,794
Less accumulated depreciation	(7,178,474)	(5,641,733)
Property and equipment, net	14,384,547	15,147,061
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,556,824	1,439,720
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	20 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	7 years
Gaming equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 5,359,541	5,247,574
Gaming equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	5 years
Gaming equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	3 years
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 4,496,705	4,190,901
Furniture and office equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	7 years
Furniture and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	3 years
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 7,762,201	7,440,577
Building and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	30 years
Building and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Service Life in Years	15 years
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,387,750	2,387,750
Construction in progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 0	$ 82,272

Long-Term Financing Obligations

Long-Term Financing Obligations (Detail) - USD ($)	Jan. 31, 2017	Apr. 30, 2016
Debt Instrument [Line Items]
Less: current portion	$ 0	$ 0
Total long-term financing obligations	13,735,976	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.	$ 13,735,976	$ 16,839,148

Long-Term Financing Obligatio38

Long-Term Financing Obligations (Parenthetical) (Detail) - Long-term Debt - Revolving Credit One	9 Months Ended
	Jan. 31, 2017USD ($)
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 ($)	9 Months Ended
	Jan. 31, 2017	Apr. 30, 2016
Line of Credit Facility [Line Items]
Total payments	$ 14,000,000
Unamortized debt discount	(264,024)
Total long-term debt	13,735,976	$ 16,839,148
February 1, 2017 - January 31, 2018
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	0
February 1, 2018 - January 31, 2019
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	0
February 1, 2019 - January 31, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	1,692,223
February 1, 2020 - November 30, 2020
Line of Credit Facility [Line Items]
Line of credit facility, Annual payment	$ 12,307,777

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2017	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	3.27%	3.27%
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 | Maximum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		2.75
February 1, 2017 through January 31, 2018 | Minimum
Debt Disclosure [Line Items]
Line Of Credit Facility Total Minimum Leverage Ratio		1
Amended Credit Agreement
Debt Disclosure [Line Items]
Line of credit facility amount outstanding	$ 5.8	$ 5.8
Line of Credit Facility, Periodic Payment, Principal	$ 1.5

Interest Rate Swap - Additional

Interest Rate Swap - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2017	Jan. 31, 2017	Apr. 30, 2016
Interest Rate Swap [Line Items]
Derivative, Notional Amount	$ 9,937,500	$ 9,937,500
Derivative, Variable Interest Rate	1.76%	1.76%
Derivative, Swaption Interest Rate	4.26%	4.26%
Percentage Of Initial Floating Index		0.763%
Increase Decrease In Interest Rate Swap	$ 180,059	$ 226,520
Other Long-term Debt, Total	$ 60,211	$ 60,211	$ 286,731

Summary of Activity under Share

Summary of Activity under Share-Based Payment Plans (Detail)	9 Months Ended
	Jan. 31, 2017USD ($)$ / 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	$ 1.10
Weighted Average Remaining Contractual Term (Year)
Outstanding	5 years 6 months
Exercisable	5 years 6 months
Aggregate Intrinsic Value
Outstanding | $	$ 606,725
Exercisable | $	$ 606,725

Equity Transactions and Stock43

Equity Transactions and Stock Option Plans - Additional Information (Detail) - USD ($)	Oct. 11, 2010	Jul. 31, 2016	Jan. 31, 2017	Jan. 31, 2017	Apr. 14, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for Repurchase of Common Stock		$ 2,000,000
Treasury Stock, Shares, Acquired			68,188	257,976
Treasury Stock Acquired, Average Cost Per Share			$ 1.94	$ 1.85
Treasury Stock, Value, Acquired, Cost Method			$ 135,171	$ 487,136
Restricted Stock
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			$ 12,026	$ 12,026
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year 9 months 18 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
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		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Basic and Diluted:
Net (loss) income available to common shareholders	$ (683,046)	$ 466,351	$ (632,596)	$ 1,542,338
Denominator:
Basic weighted average number of common shares outstanding	17,648,165	17,349,217	17,723,382	16,751,944
Dilutive effect of common stock options and warrants	275,143	295,509	290,712	260,266
Diluted weighted average number of common shares outstanding	17,923,308	17,644,726	18,014,094	17,012,210
Income per share for continuing operations:
Net (loss) income per common share - basic and diluted (in dollars per share)	$ (0.04)	$ 0.03	$ (0.04)	$ 0.09

Expected Remaining Future Rolli

Expected Remaining Future Rolling Twelve Months Minimum Lease Payments (Detail)	Jan. 31, 2017USD ($)
Schedule of Operating Leases [Line Items]
February 2017-January 2018	$ 3,098,328
February 2018-January 2019	3,076,065
February 2019-January 2020	2,548,847
February 2020-January 2021	2,419,455
February 2021-January 2022	1,799,350
Thereafter	279,982
Total	$ 13,222,027

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
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	(38.00%)	36.00%	(51.00%)	34.00%
Deferred Income Tax Assets, Net	$ 2.1		$ 2.1
Deferred Tax Assets, Other	$ 7.8		$ 7.8

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Washington
Segment Reporting Information [Line Items]
Net revenues	$ 13,235,037	$ 14,647,144	$ 39,499,326	$ 42,138,437
Casino and food and beverage expense	7,005,995	7,263,022	21,191,324	21,829,124
Marketing, administrative and corporate expense	4,158,224	4,093,537	12,319,376	12,279,544
Facility and other expenses	492,572	513,782	1,488,674	1,537,727
Depreciation and amortization	231,294	340,034	717,917	1,028,465
Operating income (loss)	1,344,849	2,434,944	3,779,722	5,627,640
Assets	27,181,165	28,436,653	27,181,165	28,436,653
Purchase of property and equipment	84,631	112,167	323,731	311,096
South Dakota
Segment Reporting Information [Line Items]
Net revenues	1,159,964	1,334,391	5,339,712	5,920,087
Casino and food and beverage expense	1,143,713	1,239,246	4,709,717	5,086,646
Marketing, administrative and corporate expense	99,131	126,829	335,111	390,139
Facility and other expenses	28,265	31,360	97,875	96,551
Depreciation and amortization	139,416	156,209	452,073	461,090
Operating income (loss)	(1,352,047)	(220,456)	(1,365,215)	(119,999)
Assets	1,927,133	4,295,587	1,927,133	4,295,587
Purchase of property and equipment	5,413	3,679	26,876	82,233
Nevada
Segment Reporting Information [Line Items]
Net revenues	3,592,171	2,379,212	9,987,884	2,379,212
Casino and food and beverage expense	2,036,108	1,330,158	6,015,316	1,330,158
Marketing, administrative and corporate expense	892,452	666,252	2,929,475	666,252
Facility and other expenses	87,398	55,800	256,794	55,800
Depreciation and amortization	379,223	240,360	1,117,885	240,360
Operating income (loss)	156,533	91,941	(377,083)	91,941
Assets	17,314,523	18,054,786	17,314,523	18,054,786
Purchase of property and equipment	30,012	7,413	537,138	7,413
Corporate
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Casino and food and beverage expense	0	0	0	0
Marketing, administrative and corporate expense	627,553	1,121,138	2,148,422	2,612,247
Facility and other expenses	0	0	0	0
Depreciation and amortization	6,673	3,096	18,753	9,287
Operating income (loss)	(634,225)	(1,124,234)	(2,167,175)	(2,621,534)
Assets	6,089,108	7,953,483	6,089,108	7,953,483
Purchase of property and equipment	0	0	55,188	0
Total
Segment Reporting Information [Line Items]
Net revenues	17,987,172	18,360,747	54,826,922	50,437,736
Casino and food and beverage expense	10,185,816	9,832,426	31,916,357	28,245,928
Marketing, administrative and corporate expense	5,777,360	6,007,756	17,732,384	15,948,182
Facility and other expenses	608,235	600,942	1,843,343	1,690,078
Depreciation and amortization	756,606	739,699	2,306,628	1,739,202
Operating income (loss)	(484,890)	1,182,195	(129,751)	2,978,048
Assets	52,511,929	58,740,509	52,511,929	58,740,509
Purchase of property and equipment	$ 120,056	$ 123,259	$ 942,933	$ 400,742