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Note 3 - Goodwill and Intangible Assets, Net

3 Months Ended

Mar. 31, 2022

NOTE 3. GOODWILL AND INTANGIBLE ASSETS, NET

Intangible assets, net consist of the following:

	*March 31, 2022*
	*Weighted*	*Gross*					*Accumulated*
	*Useful Life*	*Carrying*		*Accumulated*			*Impairment*			*Intangible*
*(In thousands)*	*Remaining (in years)*	*Value*		*Amortization*			*Losses*			*Assets, Net*
*Amortizing intangibles*
Customer relationships	1.2	$	68,100	$	(64,629	)	$	—		$	3,471
Host agreements	11.2		58,000		(14,822	)		—			43,178
Development agreement	—		21,373		—			—			21,373
			147,473		(79,451	)		—			68,022

*Indefinite lived intangible assets*
Trademarks	Indefinite		204,000		—			(27,200	)		176,800
Gaming license rights	Indefinite		1,377,935		(33,960	)		(222,174	)		1,121,801
			1,581,935		(33,960	)		(249,374	)		1,298,601
Balances, March 31, 2022		$	1,729,408	$	(113,411	)	$	(249,374	)	$	1,366,623

	*December 31, 2021*
	*Weighted*	*Gross*					*Accumulated*
	*Useful Life*	*Carrying*		*Accumulated*			*Impairment*			*Intangible*
*(In thousands)*	*Remaining (in years)*	*Value*		*Amortization*			*Losses*			*Assets, Net*
*Amortizing intangibles*
Customer relationships	1.5	$	68,100	$	(63,798	)	$	—		$	4,302
Host agreements	11.4		58,000		(13,856	)		—			44,144
Development agreement	—		21,373		—			—			21,373
			147,473		(77,654	)		—			69,819

*Indefinite lived intangible assets*
Trademarks	Indefinite		204,000		—			(27,200	)		176,800
Gaming license rights	Indefinite		1,377,935		(33,960	)		(222,174	)		1,121,801
			1,581,935		(33,960	)		(249,374	)		1,298,601
Balances, December 31, 2021		$	1,729,408	$	(111,614	)	$	(249,374	)	$	1,368,420

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, March 31, 2022	$	1,267,362	$	(6,134	)	$	(289,941	)	$	971,287

The following table sets forth the changes in our goodwill, net, during the three months ended March 31, 2022.