Note 7 - Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Text Block]

7. Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net, consist of the following:

	December 31,			December 28,
	2015			2014
	(In thousands)
Goodwill	$	96,288		$	–

Indefinite-lived intangible assets:
Gaming licenses	$	960		$	–
Trade names		12,200			–
Other		50			–
	$	13,210		$	–

Finite-lived intangible assets:
Customer relationships	$	59,200		$	–
Less: Accumulated amortization		(1,744	)		–
		57,456			–
Player relationships		7,600			–
Less: Accumulated amortization		(279	)		–
		7,321			–
Gaming license		2,100			2,100
Less: Accumulated amortization		(367	)		(225	)
		1,733			1,875
Other intangible assets		1,248			627
Less: Accumulated amortization		(144	)		(223	)
		1,104			404

Total finite-lived intangible assets, net		67,614			2,279
Total intangible assets, net	$	80,824		$	2,279

See Note 3,

Merger with Sartini Gaming, Inc.

, for a description of the intangible assets resulting from the acquisition of Sartini Gaming during the third quarter of 2015

In April 2012, the Maryland Video Lottery Facility Location Commission awarded a video lottery operation license to the Company for Rocky Gap. Amortization of the Rocky Gap gaming license began on May 22, 2013, the date the gaming facility opened for public play. The Rocky Gap gaming license is being amortized over its 15 year term.

Total amortization expense related to intangible assets was $2.3 million, $0.1 million and $0.1 million for 2015, 2014, and 2013, respectively. The estimated future amortization expense related to the intangible assets is as follows:

	2016		2017		2018		2019		2020		Thereafter
	(In thousands)
Estimated amortization expense	$	5,213	$	5,150	$	5,063	$	5,063	$	5,063	$	42,062

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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