XML 26 R10.htm IDEA: XBRL DOCUMENT
v3.22.0.1

GOODWILL AND OTHER INTANGIBLES | 12 Months Ended
--- | ---
Dec. 31, 2021
GOODWILL AND OTHER INTANGIBLES |
GOODWILL AND OTHER INTANGIBLES | 4. GOODWILL AND OTHER INTANGIBLES Goodwill: The following tables set forth changes in the carrying value of goodwill by segment:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | December 31, 2021
​ |  | Gross |  | ​ | ​ |  | Balance at
​ | ​ | Carrying | ​ | Accumulated | ​ | End of the
​ | ​ | Value | ​ | Impairments | ​ | Year
Mississippi | ​ | $ | 14,671 | ​ | $ | — | ​ | $ | 14,671
Colorado | ​ |  | 4,806 | ​ |  | — | ​ |  | 4,806
Nevada | ​ |  | 5,809 | ​ |  | (4,000) | ​ |  | 1,809
​ | ​ | $ | 25,286 | ​ | $ | (4,000) | ​ | $ | 21,286
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | December 31, 2020
​ |  | Gross |  | ​ | ​ |  | Balance at
​ | ​ | Carrying | ​ | Accumulated | ​ | End of the
​ | ​ | Value | ​ | Impairments | ​ | Year
Mississippi | ​ | $ | 14,671 | ​ | $ | — | ​ | $ | 14,671
Colorado | ​ |  | 4,806 | ​ |  | — | ​ |  | 4,806
Nevada | ​ |  | 5,809 | ​ |  | (4,000) | ​ |  | 1,809
​ | ​ | $ | 25,286 | ​ | $ | (4,000) | ​ | $ | 21,286
​ Other Intangible Assets: The following tables set forth changes in the carrying value of intangible assets other than goodwill:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | December 31, 2021
​ |  | Estimated |  | Gross |  | ​ | ​ |  | Accumulated |  | Other
​ | ​ | Life | ​ | Carrying | ​ | Accumulated | ​ | Impairments, | ​ | Intangible
​ | ​ | (Years) | ​ | Value | ​ | Amortization | ​ | Net | ​ | Assets, Net
Land Lease and Water Rights |  | 46 | ​ |  | 1,420 | ​ |  | (288) | ​ |  | — | ​ |  | 1,132
Casino Lease Option |  | 3 | ​ |  | 190 | ​ |  | (190) | ​ |  | — | ​ |  | —
Gaming Licenses |  | Indefinite | ​ |  | 18,046 | ​ |  | — | ​ |  | (10,203) | ​ |  | 7,843
Trade Names |  | Indefinite | ​ |  | 1,800 | ​ |  | — | ​ |  | — | ​ |  | 1,800
Trademarks |  | Indefinite | ​ |  | 121 | ​ |  | — | ​ |  | — | ​ |  | 121
​ | ​ | ​ | ​ | $ | 21,577 | ​ | $ | (478) | ​ | $ | (10,203) | ​ | $ | 10,896
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | December 31, 2020
​ |  | Estimated |  | Gross |  | ​ | ​ |  | Accumulated |  | Other
​ | ​ | Life | ​ | Carrying | ​ | Accumulated | ​ | Impairments, | ​ | Intangible
​ | ​ | (Years) | ​ | Value | ​ | Amortization | ​ | Net | ​ | Assets, Net
Land Lease and Water Rights |  | 46 |  | ​ | 1,420 |  | ​ | (257) |  | ​ | — |  | ​ | 1,163
Casino Lease Option |  | 3 | ​ | ​ | 190 | ​ | ​ | (151) | ​ | ​ | — | ​ | ​ | 39
Gaming Licenses |  | Indefinite |  | ​ | 18,046 |  | ​ | — |  | ​ | (10,203) |  | ​ | 7,843
Trade Names |  | Indefinite |  | ​ | 1,800 |  | ​ | — |  | ​ | — |  | ​ | 1,800
Trademarks |  | Indefinite |  | ​ | 118 |  | ​ | — |  | ​ | — |  | ​ | 118
​ | ​ | ​ | ​ | $ | 21,574 | ​ | $ | (408) | ​ | $ | (10,203) | ​ | $ | 10,963
​ There were no impairments to goodwill or other intangible assets for the years ended December 31, 2021, 2020, and 2019. Land Lease Acquisition Costs and Water Rights. Silver Slipper recognized intangible assets related to its lease agreement with Cure Land Company, LLC (see Note 7). The lease was valued at $970,000 and represents the excess fair value of the land over the estimated net present value of the land lease payments, and the water rights value of $450,000 represents the fair value of the water rights based upon market rates in Hancock County, Mississippi. Casino Lease Option. Casino lease option represents total amounts paid in order to extend the lease option for the Imperial Casino, previously known as the Christmas Casino at Bronco Billy’s until September 2020. The Company is currently evaluating other concepts for the leased space, which is located on a key corner in Cripple Creek, Colorado. Although the Company has an option to buy out the lease prior to expiration of the lease term as extended, the option amounts paid cannot be applied to the purchase price. Therefore, the total option amounts paid were fully amortized in 2021 according to the initial lease term, which commenced in August 2018 (see Note 7). Gaming Licenses. Gaming licenses primarily represent the value of the license to conduct gaming in certain jurisdictions, which are subject to highly extensive regulatory oversight and, in some cases, a limitation on the number of licenses available for issuance. The values of gaming licenses were primarily estimated using a multi-period excess earning method of the income approach, which examines the economic returns contributed by the identified tangible and intangible assets of a company, and then isolates the excess return, which is attributable to the asset being valued, based on cash flows attributable to the gaming license. Trade Names. Trade names represents the value of the Bronco Billy’s casino name, which has existed for approximately 30 years and provides brand recognition. The value was estimated using a relief-from-royalty method of the income approach based upon comparable trade name royalty agreements. Current and Future Amortization. Intangible asset amortization expense was approximately $70,000, $95,000, and $94,000 for the years ended December 31, 2021, 2020, and 2019, respectively. Future amortization expense for intangible assets is as follows:
​ | ​ | ​ | ​
(In thousands) | ​ | ​ | ​
​ | ​ | ​ | ​
For Years ending December 31, |  | Amortization Expense
2022 | ​ | $ | 31
2023 | ​ |  | 31
2024 | ​ |  | 31
2025 | ​ |  | 31
2026 | ​ |  | 31
Thereafter | ​ |  | 977
​ | ​ | $ | 1,132
​

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration