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Note 2 - Acquisitions and Divestitures | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | NOTE 2. ACQUISITIONS AND DIVESTITURES Pala Interactive On November 1, 2022, Boyd Interactive Gaming Inc. ("Boyd Interactive"), a wholly-owned subsidiary of the Company, completed its previously announced acquisition of Pala Interactive and its subsidiaries, including its Canadian subsidiary Pala Canada, pursuant to a Purchase Agreement and Plan of Merger (the "Merger Agreement"), entered into on March 28, 2022, by and among Boyd Interactive, Boyd Phoenix Acquisition, LLC, a wholly-owned subsidiary of Boyd Interactive ("Merger Sub"), Boyd Phoenix Canada Inc., a wholly-owned subsidiary of Boyd Gaming, Pala Interactive, Pala Canada Holdings, LLC and Shareholder Representative Services LLC as representative of the holders of the membership interests of Pala Interactive. Pursuant to the Merger Agreement, Merger Sub merged with and into Pala Interactive (the "Merger"), with Pala Interactive surviving the Merger. Pala Interactive is now a wholly-owned subsidiary of Boyd Interactive. Pala Interactive is an innovative online gaming technology company that provides proprietary solutions on both a B2B and B2C basis in regulated markets across the United States and Canada. This acquisition is an important step forward in our online growth strategy as it provides us with the talent and technology to begin building our regional online casino business. While online casinos are now limited to just a few states, over the long term we believe there is growth and additional profit potential for our Company from online gaming. By owning and operating an online gaming business, we will be able to leverage our nationwide portfolio and extensive customer database to grow in the online casino space. The acquired company is aggregated into our Midwest & South segment (See Note 14, Segment Information). Consideration Transferred The fair value of the consideration transferred on the date of the Merger Agreement included the purchase price of the net assets transferred. The total gross cash consideration was $175.2 million (with $7.3 million of cash acquired, for total cash paid for acquisitions, net of cash received of $167.9 million). Status of Purchase Price Allocation The Company is following the acquisition method of accounting pursuant to FASB Accounting Standards Codification Topic 805 ("ASC 805"). For purposes of these consolidated financial statements, we have allocated the purchase price to the assets acquired and the liabilities assumed based on preliminary estimates of fair value as determined by management with the assistance from third-party specialists. The excess of the purchase price over the preliminary estimated fair value of the assets acquired and liabilities assumed has been recorded as goodwill. The Company has recognized the assets acquired and liabilities assumed in the acquisition based on fair value estimates as of the date of the Merger. The determination of the fair values of the acquired intangible assets and the related determination of their estimated lives is currently in process. This determination requires significant judgment and as such, management has not completed its valuation analysis and calculations in sufficient detail necessary to finalize the determination of the fair value of the intangible assets acquired, along with the related allocation of goodwill. The final fair value determinations are expected to be completed dur ing second quarter 2023. The final fair value determinations may be significantly different than those reflected in the consolidated financial statements at December 31, 2022. The following table summarizes the preliminary allocation of the purchase price:
(In thousands) |  | As Recorded |
Current assets |  | $ | 10,456 |
Property and equipment |  |  | 445 |
Other assets |  |  | 740 |
Intangible assets |  |  | 77,000 |
Total acquired assets |  |  | 88,641 |
Current liabilities |  |  | 4,462 |
Other liabilities |  |  | 3,007 |
Total liabilities assumed |  |  | 7,469 |
Net identifiable assets acquired |  |  | 81,172 |
Goodwill |  |  | 94,037 |
Net assets acquired |  | $ | 175,209 |
The following table summarizes the values assigned to acquired property and equipment and estimated useful lives:
|  | Useful Lives |  |  |  |  |
(In thousands) |  | (in years) |  |  | As Recorded |
Buildings and improvements |  | 5 |  |  | $ | 22 |
Furniture and equipment |  | 2 - 5 |  |  |  | 423 |
Property and equipment acquired |  |  |  |  |  | $ | 445 |
The following table summarizes the preliminary values assigned to acquired intangible assets and preliminary weighted average useful lives of definite-lived intangible assets:
|  | Useful Lives |  |  |  |  |
(In thousands) |  | (in years) |  |  | As Recorded |
Developed technology |  | 10 |  |  | $ | 36,000 |
B2B relationships |  | 7 - 10 |  |  |  | 28,000 |
B2C relationships |  | 12 |  |  |  | 13,000 |
Total intangible assets acquired |  |  |  |  |  | $ | 77,000 |
The goodwill recognized is the excess of the purchase price over the preliminary values assigned to the assets acquired and liabilities assumed. All of the goodwill was assigned to reporting units included in non-reportable segments currently aggregated in the Midwest & South reportable segment. All of the goodwill, except $2.9 million allocated to Pala Canada, is expected to be deductible for income tax purposes. The Company recognized $5.5 million of acquisition related costs that were expensed for the year ended December 31, 2022. These costs are included in project development, preopening and writedowns on the consolidated statements of operations. The revenue and earnings from the Merger are not material for the period subsequent to acquisition through December 31, 2022. The pro-forma revenue and earnings from the Merger assuming all impacts as if it had been completed on January 1, 2022, are not material through December 31, 2022. Divestiture of Eldorado On December 10, 2020, Boyd Gaming completed the sale of the Eldorado Casino in Henderson, Nevada. The gain from the sale of this property is included in the project development, preopening and writedowns line in the consolidated statement of operations.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 + Details
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