Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

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 months ended March 31, 2023 and 2022, the Company concluded that there was no impairment of the Company’s goodwill and intangible assets.

The following table summarizes goodwill balances by reportable segment:


(In thousands)	Nevada Casino Resorts		Nevada Locals Casinos		Maryland Casino Resort		Nevada Taverns		Distributed Gaming		Total Goodwill
Balance, December 31, 2022	$	22,105	$	38,187	$	—	$	20,459	$	77,645	$	158,396
Balance, March 31, 2023	$	22,105	$	38,187	$	—	$	20,459	$	—	$	80,751

Intangible assets, net, consisted of the following:


	March 31, 2023
(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
Player relationships	2-14	42,990		(40,616)		—		2,374
Non-compete agreements	2-5	3,957		(3,413)		—		544
In-place lease value	4	1,170		(1,170)		—		—
Leasehold interest	4	570		(570)		—		—
Other	4-25	45		(45)		—		—
		48,732		(45,814)		—		2,918
Balance, March 31, 2023		$	102,422	$	(45,814)	$	(6,890)	$	49,718


	December 31, 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		(41,743)		—		39,362
Player relationships	2-14	42,990		(40,455)		—		2,535
Non-compete agreements	2-5	9,840		(9,114)		—		726
In-place lease value	4	1,170		(1,170)		—		—
Leasehold interest	4	570		(570)		—		—
Other	4-25	1,366		(1,237)		—		129
		137,041		(94,289)		—		42,752
Balance, December 31, 2022		$	190,731	$	(94,289)	$	(6,890)	$	89,552

Total amortization expense related to intangible assets was $1.3 million and $1.9 million for the three months ended March 31, 2023 and 2022, respectively.