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ACQUISITIONS (Tables)

6 Months Ended

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)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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

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