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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets A reconciliation of goodwill and accumulated goodwill impairment losses, by reportable segment, is as follows:
(in thousands) | Northeast Segment |  | South Segment |  | West Segment |  | Midwest Segment |  | Other |  | Total
Balance as of January 1, 2017 |  |  |  |  |  |  |  |  |  |  |
Goodwill, gross | $ | 792,024 |  |  | $ | 100,929 |  |  | $ | 158,992 |  |  | $ | 1,045,983 |  |  | $ | 155,322 |  |  | $ | 2,253,250 |
Accumulated goodwill impairment losses | (707,593 | ) |  | (34,522 | ) |  | (1,812 | ) |  | (435,283 | ) |  | (84,355 | ) |  | (1,263,565 | )
Goodwill, net | 84,431 |  |  | 66,407 |  |  | 157,180 |  |  | 610,700 |  |  | 70,967 |  |  | 989,685 |
Goodwill acquired during year (1) | — |  |  | 35,929 |  |  | — |  |  | 669 |  |  | — |  |  | 36,598 |
Impairment losses during year | — |  |  | — |  |  | (14,821 | ) |  | — |  |  | (3,205 | ) |  | (18,026 | )
Other | — |  |  | — |  |  | — |  |  | — |  |  | (160 | ) |  | (160 | )
Balance as of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |
Goodwill, gross | 792,024 |  |  | 136,858 |  |  | 158,992 |  |  | 1,046,652 |  |  | 155,322 |  |  | 2,289,848 |
Accumulated goodwill impairment losses | (707,593 | ) |  | (34,522 | ) |  | (16,633 | ) |  | (435,283 | ) |  | (87,720 | ) |  | (1,281,751 | )
Goodwill, net | 84,431 |  |  | 102,336 |  |  | 142,359 |  |  | 611,369 |  |  | 67,602 |  |  | 1,008,097 |
Goodwill acquired during year | 56,400 |  |  | 48,300 |  |  | 51,431 |  |  | 63,400 |  |  | 794 |  |  | 220,325 |
Balance as of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Goodwill, gross | 848,424 |  |  | 185,158 |  |  | 210,423 |  |  | 1,110,052 |  |  | 156,116 |  |  | 2,510,173 |
Accumulated goodwill impairment losses | (707,593 | ) |  | (34,522 | ) |  | (16,633 | ) |  | (435,283 | ) |  | (87,720 | ) |  | (1,281,751 | )
Goodwill, net | $ | 140,831 |  |  | $ | 150,636 |  |  | $ | 193,790 |  |  | $ | 674,769 |  |  | $ | 68,396 |  |  | $ | 1,228,422 |
(1) | The amount in the South segment originated from the acquisitions of 1 st Jackpot Casino Tunica and Resorts Casino Tunica, described in Note 5, “Acquisitions and Other Investments.”
As of September 30, 2017, the Company identified an indicator of impairment on its goodwill as a result of a reversal of a significant deferred tax valuation allowance, which caused increases in the carrying amounts of certain of our reporting units. As a result of an interim assessment for impairment, the goodwill at Tropicana Las Vegas was fully impaired, resulting in an impairment charge of $14.8 million, and the goodwill at Sanford-Orlando Kennel Club was partially impaired, resulting in an impairment charge of $3.2 million. The estimated fair values of the reporting units were determined by using discounted cash flow models, which utilized Level 3 inputs. These impairments are included in “Provision for loan loss and unfunded loan commitments to the JIVDC, net of recoveries, and impairment losses” within our Consolidated Statements of Operations. As of December 31, 2018, six reporting units had negative carrying amounts. The amount of goodwill at these reporting units was as follows (in thousands):
Northeast segment |
Hollywood Casino at Charles Town Races | $ | 8,654 |
Hollywood Casino Columbus | $ | 6,200 |
Hollywood Casino Toledo | $ | 5,800 |
South segment |
Hollywood Casino Gulf Coast | $ | 2,700 |
Midwest segment |
Argosy Casino Alton | $ | 11,863 |
Hollywood Casino Joliet | $ | 4,600 |
The table below presents the gross carrying amount, accumulated amortization, and net carrying amount of each major class of other intangible assets:
| December 31, 2018 |  | December 31, 2017
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |
Gaming licenses | $ | 1,498,309 |  |  | $ | — |  |  | $ | 1,498,309 |  |  | $ | 374,709 |  |  | $ | — |  |  | $ | 374,709 |
Trademarks | 298,000 |  |  | — |  |  | 298,000 |  |  | — |  |  | — |  |  | — |
Other | 696 |  |  | — |  |  | 696 |  |  | 696 |  |  | — |  |  | 696 |
Amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 98,752 |  |  | (51,544 | ) |  | 47,208 |  |  | 75,252 |  |  | (42,432 | ) |  | 32,820 |
Other | 61,918 |  |  | (49,263 | ) |  | 12,655 |  |  | 56,231 |  |  | (41,850 | ) |  | 14,381 |
Total other intangible assets | $ | 1,957,675 |  |  | $ | (100,807 | ) |  | $ | 1,856,868 |  |  | $ | 506,888 |  |  | $ | (84,282 | ) |  | $ | 422,606 |
Other intangible assets increased by $1,434.3 million for the year ended December 31, 2018 primarily due to the Pinnacle Acquisition, which is discussed in Note 5, “Acquisitions and Other Investments.” Additionally, we purchased two Category 4 gaming licenses to operate up to 750 slot machines and initially up to 30 table games, under each license, in York County, Pennsylvania for $50.1 million and in Berks County, Pennsylvania for $7.5 million, and real money iGaming and sports betting licenses in Pennsylvania for $20.0 million, all of which have been classified as indefinite-lived intangible assets. There were no impairment charges recorded on other intangible assets for the years ended December 31, 2018, 2017 or 2016. Our amortizing intangible assets have a weighted-average remaining amortization period of 3.5 years. Amortization expense relating to our amortizing intangible assets were $17.1 million, $18.9 million, and $9.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. The following table presents the estimated amortization expense based on our amortizing intangible assets as of December 31, 2018 (in thousands):
Years ending December 31: |
2019 | $ | 22,085 |
2020 | 16,472 |
2021 | 4,795 |
2022 | 4,063 |
2023 | 4,003 |
Thereafter | 8,445 |
Total | $ | 59,863 |

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