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Acquisitions (Tables) - ACEP Holdings [Member]
12 Months Ended
Dec. 31, 2018
Schedule of Acquisition Purchase Price Allocation

The following table summarizes the allocation of the purchase price, based on estimates of the fair values of the assets acquired and liabilities assumed:

 

(In thousands)

 

 

 

 

 

 

Current assets

 

 

 

$

83,079

 

Property and equipment

 

 

 

 

754,581

 

Other noncurrent assets

 

 

 

 

264

 

Intangible assets

 

 

 

 

66,140

 

Goodwill

 

 

 

 

52,479

 

Liabilities

 

 

 

 

(67,476

)

Total assets acquired, net of liabilities assumed

 

 

 

$

889,067

 

Summary of Values of Property and Equipment Acquired and Estimated Useful Lives by Category

The following table summarizes the values assigned to acquired property and equipment and estimated useful lives by category:

 

 

 

 

 

 

 

 

(In thousands)

 

Useful Life (Years)

 

 

 

 

Land

 

Not applicable

 

$

106,800

 

Land improvements

 

15

 

 

6,240

 

Building and improvements

 

45

 

 

607,698

 

Furniture, fixtures and equipment

 

3-4

 

 

32,829

 

Construction in process

 

Not applicable

 

 

1,014

 

Total property and equipment

 

 

 

$

754,581

 

Summary of Values of Intangible Assets Acquired and Estimated Useful Lives by Category

The following table summarizes the values assigned to acquired intangible assets and estimated useful lives by category:

 

 

 

 

 

 

 

 

(In thousands)

 

Useful Life (Years)

 

 

 

 

Trade names

 

Indefinite

 

$

34,510

 

Players loyalty programs

 

3

 

 

26,850

 

Leasehold interest

 

3-80

 

 

3,110

 

In-place lease value

 

3-4

 

 

1,670

 

Total intangible assets

 

 

 

$

66,140

 

Summary of Unaudited Pro Forma Combined Financial Information

The following table summarizes certain unaudited pro forma combined financial information derived from a combination of the historical consolidated financial statements of the Company and of American for the years ended December 31, 2017 and 2016, adjusted to give effect to the American Acquisition, related transactions (including the refinancing) and the adoption of ASC 606.

 

 

Year Ended December 31,

 

 

2017

 

 

2016

 

(In thousands, except per share data)

 

 

 

 

 

 

 

Pro forma combined revenues

$

843,589

 

 

$

791,372

 

Pro forma combined net income

 

23,131

 

 

 

28,200

 

Pro forma combined net income per share:

 

 

 

 

 

 

 

Basic

 

26,342

 

 

 

26,181

 

Diluted

 

27,897

 

 

 

26,500

 

Weighted-average common shares outstanding:

 

 

 

 

 

 

 

Basic

$

0.88

 

 

$

1.08

 

Diluted

 

0.83

 

 

 

1.06