XML 18 R9.htm IDEA: XBRL DOCUMENT
v3.22.2

Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The Company tests goodwill and indefinite-lived intangible assets for impairment annually during the fourth quarter of each year, and whenever events or circumstances indicate that it is more likely than not that the carrying value of a reporting unit exceeds its fair value. Finite-lived intangible assets are evaluated for potential impairment whenever there is an indicator that the carrying value of an asset group may not be recoverable. Based on the results of its interim impairment assessments conducted during the three and six months ended June 30, 2022 and 2021, the Company concluded that there was no impairment of the Company’s goodwill and intangible assets. The following table summarizes goodwill activity by reportable segment:
(In thousands) | Nevada Casino Resorts |  | Nevada Locals Casinos |  | Maryland Casino Resort |  | Distributed Gaming |  | Total Goodwill
Balance, December 31, 2021 and June 30, 2022 | $ | 22,105 |  |  | $ | 38,187 |  |  | $ | — |  |  | $ | 98,104 |  |  | $ | 158,396 |
Intangible assets, net, consisted of the following:
| June 30, 2022
(In thousands) | Useful Life (Years) |  | Gross Carrying Value |  | Cumulative Amortization |  | Cumulative Impairment |  | Intangible Assets, Net
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |
Trade names | Indefinite |  | $ | 53,690 |  |  | $ | — |  |  | $ | (6,890) |  |  | $ | 46,800 |
|  |  | 53,690 |  |  | — |  |  | (6,890) |  |  | 46,800 |
Amortizing intangible assets |  |  |  |  |  |  |  |  |
Customer relationships | 4-16 |  | 81,105 |  |  | (38,811) |  |  | — |  |  | 42,294 |
Player relationships | 2-14 |  | 42,990 |  |  | (40,134) |  |  | — |  |  | 2,856 |
Non-compete agreements | 2-5 |  | 9,840 |  |  | (8,738) |  |  | — |  |  | 1,102 |
Gaming license (1) | 15 |  | 2,100 |  |  | (1,280) |  |  | — |  |  | 820 |
In-place lease value | 4 |  | 1,170 |  |  | (1,170) |  |  | — |  |  | — |
Leasehold interest | 4 |  | 570 |  |  | (570) |  |  | — |  |  | — |
Other | 4-25 |  | 1,814 |  |  | (1,390) |  |  | — |  |  | 424 |
|  |  | 139,589 |  |  | (92,093) |  |  | — |  |  | 47,496 |
Balance, June 30, 2022 |  |  | $ | 193,279 |  |  | $ | (92,093) |  |  | $ | (6,890) |  |  | $ | 94,296 |
(1)Relates to Rocky Gap.
| December 31, 2021
(In thousands) | Useful Life (Years) |  | Gross Carrying Value |  | Cumulative Amortization |  | Cumulative Impairment |  | Intangible Assets, Net
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |
Trade names | Indefinite |  | $ | 53,690 |  |  | $ | — |  |  | $ | (6,890) |  |  | $ | 46,800 |
|  |  | 53,690 |  |  | — |  |  | (6,890) |  |  | 46,800 |
Amortizing intangible assets |  |  |  |  |  |  |  |  |
Customer relationships | 4-16 |  | 81,105 |  |  | (35,879) |  |  | — |  |  | 45,226 |
Player relationships | 2-14 |  | 42,990 |  |  | (39,812) |  |  | — |  |  | 3,178 |
Non-compete agreements | 2-5 |  | 9,840 |  |  | (8,349) |  |  | — |  |  | 1,491 |
Gaming license (1) | 15 |  | 2,100 |  |  | (1,210) |  |  | — |  |  | 890 |
In-place lease value | 4 |  | 1,170 |  |  | (1,155) |  |  | — |  |  | 15 |
Leasehold interest | 4 |  | 570 |  |  | (570) |  |  | — |  |  | — |
Other | 4-25 |  | 1,814 |  |  | (1,356) |  |  | — |  |  | 458 |
|  |  | 139,589 |  |  | (88,331) |  |  | — |  |  | 51,258 |
Balance, December 31, 2021 |  |  | $ | 193,279 |  |  | $ | (88,331) |  |  | $ | (6,890) |  |  | $ | 98,058 |
(1)Relates to Rocky Gap. Total amortization expense related to intangible assets was $1.9 million and $3.8 million for the three and six months ended June 30, 2022, respectively, and $2.0 million and $4.2 million for the three and six months ended June 30, 2021, respectively. To the extent the Company becomes aware of new facts and circumstances that would result in a triggering event, the Company will revise its cash flow projections accordingly, as its estimates of future cash flows are highly dependent upon certain assumptions, including, but not limited to, the nature, timing, and extent of elimination or change of the restrictions on the Company’s operations and the extent and timing of the economic recovery globally, nationally, and specifically within the gaming industry. If such assumptions are not accurate, the Company may be required to record impairment charges in future periods, whether in connection with its regular review procedures, or earlier, if an indicator of an impairment is present prior to such evaluation.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration