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GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in carrying value of goodwill by reportable segment for the years ended December 31, 2020 and 2019 is as follows:

			Rhode Island						Mid-Atlantic						Southeast						West												Total
Goodwill as of December 31, 2018			$	83,101					$	—					$	48,934					$	—											$	132,035
Goodwill from current year business combinations			—						1,047						—						—												1,047
Goodwill as of December 31, 2019			$	83,101					$	1,047					$	48,934					$	—											$	133,082
Goodwill from current year business combinations			—						—						6,053						53,204												59,257
Impairment charges			—						—						—						(5,360)												(5,360)
Goodwill as of December 31, 2020			$	83,101					$	1,047					$	54,987					$	47,844											$	186,979

Schedule of Identifiable Intangible Assets

The change in intangible assets, net for the years ended December 31, 2020 and 2019 is as follows:

Intangible assets, net as of December 31, 2018			$	110,104
Intangible assets from current year business combinations			5,110
Other intangibles acquired			1,092
Less: Accumulated amortization			(5,933)
Intangible assets, net as of December 31, 2019			$	110,373
Intangible assets from current year business combinations			203,380
Other intangibles acquired(1)			357,793
Impairment charges			(3,299)
Less: Accumulated amortization			(4,852)
Intangible assets, net as of December 31, 2020			$	663,395

(1) Includes Naming rights and Bally’s trade name.

The Company’s identifiable intangible assets consist of the following:

			Weighted average remaining life (in years)						December 31, 2020
(in thousands, except years)									Gross Carrying Amount						Accumulated Amortization						Net
Amortizable intangible assets:
Naming rights - Sinclair(1)			10.0						$	338,241					$	—					$	338,241
Rhode Island contract for VLT’s			0.0						29,300						(29,300)						—
Trade names			8.6						21,600						(16,475)						5,125
Hard Rock license			26.5						8,000						(1,576)						6,424
Rated player relationships			5.8						10,515						(5,483)						5,032
Other			3.7						1,950						(750)						1,200
Total amortizable intangible assets									409,606						(53,584)						356,022
Intangible assets not subject to amortization:
Gaming licenses			Indefinite						287,108						—						287,108
Bally’s trade name			Indefinite						19,052						—						19,052
Novelty game licenses			Indefinite						1,213						—						1,213
Total unamortizable intangible assets									307,373						—						307,373
Total intangible assets, net									$	716,979					$	(53,584)					$	663,395

(1) Amortization will begin upon the commencement date of the re-branded Sinclair regional sports networks which had not occurred as of December 31, 2020. As such, there was no amortization expense for the year ended December 31, 2020.

			Weighted average remaining life (in years)						December 31, 2019
(in thousands, except years)									Gross amount						Accumulated amortization						Net Amount
Amortizable intangible assets:
Rhode Island contract for VLT’s			0.6						$	29,300					$	(27,629)					$	1,671
Trade names			7.0						19,500						(14,576)						4,924
Hard Rock license			27.5						8,000						(1,333)						6,667
Rated player relationships			5.1						7,765						(4,660)						3,105
Other			3.2						1,220						(534)						686
Total amortizable intangible assets									65,785						(48,732)						17,053
Intangible assets not subject to amortization:
Rhode Island VLT license			Indefinite						92,108						—						92,108
Novelty game licenses			Indefinite						1,212						—						1,212
Total unamortizable intangible assets									93,320						—						93,320
Total intangible assets, net									$	159,105					$	(48,732)					$	110,373

Schedule of Identifiable Intangible Assets

The change in intangible assets, net for the years ended December 31, 2020 and 2019 is as follows:

Intangible assets, net as of December 31, 2018			$	110,104
Intangible assets from current year business combinations			5,110
Other intangibles acquired			1,092
Less: Accumulated amortization			(5,933)
Intangible assets, net as of December 31, 2019			$	110,373
Intangible assets from current year business combinations			203,380
Other intangibles acquired(1)			357,793
Impairment charges			(3,299)
Less: Accumulated amortization			(4,852)
Intangible assets, net as of December 31, 2020			$	663,395

(1) Includes Naming rights and Bally’s trade name.

The Company’s identifiable intangible assets consist of the following:

			Weighted average remaining life (in years)						December 31, 2020
(in thousands, except years)									Gross Carrying Amount						Accumulated Amortization						Net
Amortizable intangible assets:
Naming rights - Sinclair(1)			10.0						$	338,241					$	—					$	338,241
Rhode Island contract for VLT’s			0.0						29,300						(29,300)						—
Trade names			8.6						21,600						(16,475)						5,125
Hard Rock license			26.5						8,000						(1,576)						6,424
Rated player relationships			5.8						10,515						(5,483)						5,032
Other			3.7						1,950						(750)						1,200
Total amortizable intangible assets									409,606						(53,584)						356,022
Intangible assets not subject to amortization:
Gaming licenses			Indefinite						287,108						—						287,108
Bally’s trade name			Indefinite						19,052						—						19,052
Novelty game licenses			Indefinite						1,213						—						1,213
Total unamortizable intangible assets									307,373						—						307,373
Total intangible assets, net									$	716,979					$	(53,584)					$	663,395

(1) Amortization will begin upon the commencement date of the re-branded Sinclair regional sports networks which had not occurred as of December 31, 2020. As such, there was no amortization expense for the year ended December 31, 2020.

			Weighted average remaining life (in years)						December 31, 2019
(in thousands, except years)									Gross amount						Accumulated amortization						Net Amount
Amortizable intangible assets:
Rhode Island contract for VLT’s			0.6						$	29,300					$	(27,629)					$	1,671
Trade names			7.0						19,500						(14,576)						4,924
Hard Rock license			27.5						8,000						(1,333)						6,667
Rated player relationships			5.1						7,765						(4,660)						3,105
Other			3.2						1,220						(534)						686
Total amortizable intangible assets									65,785						(48,732)						17,053
Intangible assets not subject to amortization:
Rhode Island VLT license			Indefinite						92,108						—						92,108
Novelty game licenses			Indefinite						1,212						—						1,212
Total unamortizable intangible assets									93,320						—						93,320
Total intangible assets, net									$	159,105					$	(48,732)					$	110,373

Schedule of Remaining Amortization Expense

The following table shows the remaining amortization expense associated with finite lived intangible assets as of December 31, 2020:

(in thousands)
2021			$	27,610
2022			36,005
2023			35,924
2024			35,274
2025			35,274
Thereafter			185,935
			$	356,022

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