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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The Company had goodwill of $114.2 million and $116.3 million as of September 30, 2025 and December 31, 2024, respectively, of which $36.2 million was deductible for tax purposes as of September 30, 2025. In July 2025, there was a reduction in goodwill related to the acquisition of Fairmount Park - Casino & Racing (“Fairmount”) due to the cancellation of 173,262 previously-issued shares that were being held in escrow due to revisions to the closing statement. The cancellation of these shares resulted in a $2.0 million reduction in the fair value of the consideration paid to acquire Fairmount. The following is a roll forward of the Company's goodwill (in thousands):
Goodwill balance as of January 1, 2025 | $ | 116,252 |
Cancellation of shares previously issued for Fairmount acquisition | (2,007) |
Goodwill balance as of September 30, 2025 | $ | 114,245 |
Goodwill is tested for impairment annually or when triggering events occur. There were no indicators of impairment of goodwill as of September 30, 2025. Other intangible assets Other intangible assets, net consist of definite-lived trade names, customer relationships, software applications and indefinite-lived operating licenses. Other intangible assets are amortized over their estimated 7 to 20-year useful lives. Other intangible assets consist of the following as of September 30, 2025 and December 31, 2024 (in thousands):
|  |  | September 30, 2025 |  | December 31, 2024
| Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer Relationships | 7 years |  | $ | 6,800 |  |  | $ | (3,915) |  |  | $ | 2,885 |  |  | $ | 6,800 |  |  | $ | (3,325) |  |  | $ | 3,475 |
Software Applications | 8 years |  | 7,800 |  |  | (3,250) |  |  | 4,550 |  |  | 7,800 |  |  | (2,519) |  |  | 5,281 |
Trade Names | 20 years |  | 11,700 |  |  | (1,714) |  |  | 9,986 |  |  | 11,700 |  |  | (1,265) |  |  | 10,435 |
Operating Licenses | Indefinite |  | 44,199 |  |  | N/A |  | 44,199 |  |  | 34,749 |  |  | N/A |  | 34,749 |
|  |  | $ | 70,499 |  |  | $ | (8,879) |  |  | $ | 61,620 |  |  | $ | 61,049 |  |  | $ | (7,109) |  |  | $ | 53,940 |
Amortization expense of other intangible assets was $0.6 million and $1.8 million for both the three and nine months ended September 30, 2025, and 2024, respectively. In May 2025, a one-time payment of $9.5 million was required to open the casino at Fairmount. This payment, which represents a one-time gaming license fee to register the gaming positions in the casino, was recorded as an indefinite-lived operating license. Indefinite-lived intangibles are tested for impairment annually or when triggering events occur. There were no indicators of impairment of indefinite-lived intangibles as of September 30, 2025.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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