3. GOODWILL AND INTANGIBLE ASSET

Goodwill

Changes in the carrying amount of goodwill related to the Company’s Edmonton property and CPL for the six months ended June 30, 2013 are as follows:


Amounts in thousands	Edmonton	Casinos Poland	Total
Balance – January 1, 2013	$ 4,941	$ 0	$ 4,941
Purchase of Casinos Poland	0	8,221	8,221
Effect of foreign currency translation	(265)	(386)	(651)
Balance – June 30, 2013	$ 4,676	$ 7,835	$ 12,511

Goodwill related to the purchase of additional ownership in CPL was $8.2 million as of June 30, 2013 (Note 2).

Intangible Asset

Casinos Poland currently has nine casino licenses each with a term of six years. As of April 8, 2013, the Company began reporting the Polish casino licenses as intangible assets on the Company’s condensed consolidated balance sheets. Changes in the carrying amount of the Casinos Poland licenses from the date of acquisition to June 30, 2013 are as follows:


Amounts in thousands
Balance – April 8, 2013	$ 2,533
Amortization	(121)
Effect of foreign currency translation	(116)
Balance – June 30, 2013	$ 2,296

As of June 30, 2013, estimated amortization expense for the CPL casino licenses over the next five years is as follows:


Amounts in thousands
2013	$ 258
2014	$ 516
2015	$ 516
2016	$ 482
2017	$ 393

Such estimates do not reflect the impact of future foreign exchange rate changes or the renewal of the licenses. The weighted average period before the next renewal is 4.5 years.