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Note 3 - Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2021

NOTE 3. GOODWILL AND INTANGIBLE ASSETS, NET

Intangible assets, net consist of the following:

	*September 30, 2021*
	*Weighted*	*Gross*					*Accumulated*
	*Useful Life*	*Carrying*		*Accumulated*			*Impairment*			*Intangible*
*(In thousands)*	*Remaining (in years)*	*Value*		*Amortization*			*Losses*			*Assets, Net*
*Amortizing intangibles*
Customer relationships	1.7	$	68,100	$	(61,614	)	$	—		$	6,486
Host agreements	11.7		58,000		(12,889	)		—			45,111
Development agreement	—		21,373		—			—			21,373
			147,473		(74,503	)		—			72,970

*Indefinite lived intangible assets*
Trademarks	Indefinite		204,000		—			(24,800	)		179,200
Gaming license rights	Indefinite		1,377,885		(33,960	)		(222,174	)		1,121,751
			1,581,885		(33,960	)		(246,974	)		1,300,951
Balances, September 30, 2021		$	1,729,358	$	(108,463	)	$	(246,974	)	$	1,373,921

	*December 31, 2020*
	*Weighted*	*Gross*					*Accumulated*
	*Useful Life*	*Carrying*		*Accumulated*			*Impairment*			*Intangible*
*(In thousands)*	*Remaining (in years)*	*Value*		*Amortization*			*Losses*			*Assets, Net*
*Amortizing intangibles*
Customer relationships	2.5	$	68,100	$	(55,062	)	$	—		$	13,038
Host agreements	12.4		58,000		(9,989	)		—			48,011
Development agreement	—		21,373		—			—			21,373
			147,473		(65,051	)		—			82,422

*Indefinite lived intangible assets*
Trademarks	Indefinite		204,000		—			(24,800	)		179,200
Gaming license rights	Indefinite		1,376,685		(33,960	)		(222,174	)		1,120,551
			1,580,685		(33,960	)		(246,974	)		1,299,751
Balances, December 31, 2020		$	1,728,158	$	(99,011	)	$	(246,974	)	$	1,382,173

Goodwill, net consists of the following:

	*Gross*					*Accumulated*
	*Carrying*		*Accumulated*			*Impairment*			*Goodwill,*
*(In thousands)*	*Value*		*Amortization*			*Losses*			*Net*
Goodwill, net by Reportable Segment
Las Vegas Locals	$	593,567	$	—		$	(188,079	)	$	405,488
Downtown Las Vegas		6,997		(6,134	)		—			863
Midwest & South		666,798		—			(101,862	)		564,936
Balances, September 30, 2021	$	1,267,362	$	(6,134	)	$	(289,941	)	$	971,287

The following table sets forth the changes in our goodwill, net, during the nine months ended September 30, 2021.