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ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid and the fair values of the assets acquired and liabilities assumed in connection with the acquisition of Bally’s Lake Tahoe on April 6, 2021:
| As of April 6, 2021
(in thousands) | Preliminary as of December 31, 2021 |  | Year to Date Adjustments |  | Final
Total current assets | $ | 4,683 |  |  | $ | — |  |  | $ | 4,683 |
Property and equipment, net | 6,361 |  |  | — |  |  | 6,361 |
Right of use assets, net | 57,017 |  |  | — |  |  | 57,017 |
Intangible assets, net | 5,430 |  |  | — |  |  | 5,430 |
Accounts payable and accrued liabilities | (3,402) |  |  | (144) |  |  | (3,546) |
Lease liabilities | (52,927) |  |  | — |  |  | (52,927) |
Other long-term liabilities | (941) |  |  | 37 |  |  | (904) |
Net assets acquired | 16,221 |  |  | (107) |  |  | 16,114 |
Bargain purchase gain | (2,049) |  |  | 107 |  |  | (1,942) |
Total purchase price | $ | 14,172 |  |  | $ | — |  |  | $ | 14,172 |
The following table summarizes the consideration paid and the fair values of the assets acquired and liabilities assumed in connection with the acquisition of Bally’s Evansville on June 3, 2021. There were no purchase accounting adjustments recorded during the six months ended June 30, 2022.
|  |  |  |  | As of June 3, 2021
(in thousands) |  |  |  |  | Final
Cash and cash equivalents |  |  |  |  | $ | 9,355 |
Accounts receivable, net |  |  |  |  | 1,474 |
Inventory and prepaid expenses and other current assets |  |  |  |  | 1,202 |
Property and equipment, net |  |  |  |  | 12,325 |
Right of use assets, net |  |  |  |  | 285,772 |
Intangible assets, net |  |  |  |  | 154,210 |
Other assets |  |  |  |  | 468 |
Accounts payable and accrued liabilities |  |  |  |  | (10,927) |
Lease liabilities |  |  |  |  | (285,772) |
Deferred tax liability |  |  |  |  | (7,233) |
Other long-term liabilities |  |  |  |  | (310) |
Net assets acquired |  |  |  |  | 160,564 |
Bargain purchase gain |  |  |  |  | (20,856) |
Total purchase price |  |  |  |  | $ | 139,708 |
The following table summarizes the consideration paid and the fair values of the assets acquired and liabilities assumed in connection with the Bally’s Quad Cities acquisition on June 14, 2021.
| As of June 14, 2021
(in thousands) | Preliminary as of December 31, 2021 |  | Year to Date Adjustments |  | Final
Cash and cash equivalents | $ | 2,933 |  |  | $ | — |  |  | $ | 2,933 |
Accounts receivable, net | 2,986 |  |  | — |  |  | 2,986 |
Inventory and prepaid expenses and other current assets | 798 |  |  | — |  |  | 798 |
Property and equipment, net | 73,135 |  |  | — |  |  | 73,135 |
Intangible assets, net | 31,180 |  |  | — |  |  | 31,180 |
Goodwill | 14,593 |  |  | (1,285) |  |  | 13,308 |
Total current liabilities | (6,697) |  |  | 1,285 |  |  | (5,412) |
Total purchase price | $ | 118,928 |  |  | $ | — |  |  | $ | 118,928 |
The following table summarizes the consideration paid and the fair values of the assets acquired and liabilities assumed in connection with the North America Interactive Acquisitions.
(in thousands) | As of June 30, 2022(1)
Cash and cash equivalents | $ | 8,689 |
Accounts receivable, net | 4,498 |
Prepaid expenses and other current assets | 3,104 |
Property and equipment, net | 596 |
Intangible assets, net | 167,075 |
Goodwill | 250,730 |
Total current liabilities | (14,787) |
Deferred tax liability | (15,811) |
Acquired non-controlling interest | (3,760) |
Net investment in the North America Interactive Acquisitions | $ | 400,334 |
__________________________________ (1) As of June 30, 2022, the purchase price allocations of AVP, Telescope and Degree 53 are preliminary and are final for Bally’s Interactive, SportCaller and MKF. During the three and six months ended June 30, 2022, the Company recorded purchase accounting adjustments for the North America Interactive Acquisitions, increasing both goodwill and accrued liabilities by $0.2 million. The following table summarizes the consideration paid and the preliminary fair values of the assets acquired and liabilities assumed in connection with the acquisition of Gamesys as of October 1, 2021.
(in thousands) | Preliminary as of December 31, 2021 |  | Year to Date Adjustments |  | Preliminary as of June 30, 2022
Cash and cash equivalents and restricted cash | $ | 183,306 |  |  | $ | — |  |  | $ | 183,306 |
Accounts receivable, net | 35,851 |  |  | — |  |  | 35,851 |
Prepaid expenses and other current assets | 27,876 |  |  | 542 |  |  | 28,418 |
Property and equipment, net | 15,230 |  |  | — |  |  | 15,230 |
Right of use assets, net | 14,185 |  |  | — |  |  | 14,185 |
Goodwill | 1,678,476 |  |  | (542) |  |  | 1,677,934 |
Intangible assets, net | 1,513,023 |  |  | — |  |  | 1,513,023 |
Other assets | 17,668 |  |  | — |  |  | 17,668 |
Accounts payable | (47,881) |  |  | — |  |  | (47,881) |
Accrued income taxes | (40,250) |  |  | — |  |  | (40,250) |
Accrued liabilities | (177,109) |  |  | — |  |  | (177,109) |
Long-term debt, net | (456,469) |  |  | — |  |  | (456,469) |
Lease liabilities | (14,185) |  |  | — |  |  | (14,185) |
Deferred tax liability | (143,924) |  |  | — |  |  | (143,924) |
Other long-term liabilities | (6,680) |  |  | — |  |  | (6,680) |
Total purchase price | $ | 2,599,117 |  |  | $ | — |  |  | $ | 2,599,117 |
Business Acquisition, Pro Forma Information |
| Three Months Ended |  |  |  | Six Months Ended
(in thousands) | June 30, 2021 |  |  |  | June 30, 2021
Revenue | $ | 575,116 |  |  |  |  | $ | 1,081,731 |
Net loss | $ | (40,989) |  |  |  |  | $ | (26,319) |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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