Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

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, 2024 and 2023, 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		Nevada Taverns		Total Goodwill
Balance, December 31, 2023	$	22,105	$	38,187	$	24,033	$	84,325
Balance, March 31, 2024	$	22,105	$	38,187	$	24,033	$	84,325

Intangible assets, net, consisted of the following:


	March 31, 2024
(In thousands)	Useful Life (Years)	Gross Carrying Value		Cumulative Amortization		Cumulative Impairment		Intangible Assets, Net
Indefinite-lived intangible assets
Trade names	Indefinite	$	54,790	$	—	$	(6,890)	$	47,900
		54,790		—		(6,890)		47,900
Amortizing intangible assets
Player relationships	2-14	43,916		(41,245)		—		2,671
Non-compete agreements	2-5	5,747		(2,849)		—		2,898
		49,663		(44,094)		—		5,569
Balance, March 31, 2024		$	104,453	$	(44,094)	$	(6,890)	$	53,469


	December 31, 2023
(In thousands)	Useful Life (Years)	Gross Carrying Value		Cumulative Amortization		Cumulative Impairment		Intangible Assets, Net
Indefinite-lived intangible assets
Trade names	Indefinite	$	54,790	$	—	$	(6,890)	$	47,900
		54,790		—		(6,890)		47,900
Amortizing intangible assets
Player relationships	2-14	43,916		(41,050)		—		2,866
Non-compete agreements	2-5	5,747		(2,578)		—		3,169
		49,663		(43,628)		—		6,035
Balance, December 31, 2023		$	104,453	$	(43,628)	$	(6,890)	$	53,935

Total amortization expense related to intangible assets was $0.5 million and $1.3 million for the three months ended March 31, 2024 and 2023, respectively.