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Goodwill And Intangible Assets | 6 Months Ended
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Jun. 30, 2016
Goodwill And Intangible Assets [Abstract] |
Goodwill And Intangible Assets | ﻿ 5.GOODWILL AND INTANGIBLE ASSETS ﻿ Goodwill The Company test s goodwill for impairment as of October 1 each year, or more frequently as circumstances indicate it is necessary. Testing compares the estimated fair values of our reporting units to the reporting units’ carrying values. The reporting units with goodwill balances as of June 30, 2016 include the Edmonton casino property and the CDR and CPL operations. The Company consider s a variety of factors whe n estimating the fair value of its reporting units, including estimates about the future operating results of each reporting unit, multiples of earnings, various market analyses, and recent sales of comparable businesses, if such information is available. The Company makes a variety of estimates and judgments about the relevance and comparability of these factors to the reporting units in estimating their fair values. If the carrying value of a reporting unit exceeds its estimated fair value, the fair value of each reporting unit is allocated to the reporting unit’s assets and liabilities to determine the implied fair value of the reporting unit’s goodwill and whether impairment is necessary. There have been no indications of impairment at the Company’s Edmonton property, CDR or CPL since the Company’s last annual analysis that would necessitate additional impairment testing by the Company. Changes in the carrying amount of goodwill related to the Company’s Edmonton property, CDR and CPL are as follows: ﻿
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﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Canada |  | Poland |  |  |
﻿Amounts in thousands |  | Edmonton |  | Century Downs |  | Casinos Poland |  | Total
﻿Balance – December 31, 2015 |  | $ | 3,551 |  | $ | 137 |  | $ | 6,485 |  | $ | 10,173
﻿Effect of foreign currency translation |  |  | 227 |  |  | 8 |  |  | (26) |  |  | 209
﻿Balance -- June 30, 2016 |  | $ | 3,778 |  | $ | 145 |  | $ | 6,459 |  | $ | 10,382
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ Intangible Assets Trademarks The Company currently owns two trademarks, the Century Casinos trademark and the Casinos Poland trademark, which are reported as intangible assets on the Company’s condensed consolidated balance sheets. Changes in the carrying amount of the trademarks are as follows:
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﻿Amounts in thousands |  | Century Casinos |  | Casinos Poland |  | Total
﻿Balance -- December 31, 2015 |  | $ | 108 |  | $ | 1,546 |  | $ | 1,654
﻿Effect of foreign currency translation |  |  | 0 |  |  | (6) |  |  | (6)
﻿Balance -- June 30, 2016 |  | $ | 108 |  | $ | 1,540 |  | $ | 1,648
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﻿ The Company has determined both trademarks have indefinite useful lives and therefore the Company does not amortize the trademarks. Rather, the Company tests its trademarks for impairment annually or more frequently as circumstances indicate it is necessary. The Company tests trademarks for impairment using the relief-from-royalty method. If the fair value of an indefinite-lived intangible asset is less than its carrying amount, the Company would recognize an impairment charge equal to the difference. No impairment charges related to the Century Casinos and Casinos Poland trademarks have been recorded. Casino Licenses Casino licenses consist of the following: ﻿
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﻿ |  | June 30, |  | December 31, |
﻿Amounts in thousands |  | 2016 |  | 2015 |
﻿Casino licenses |  | $ | 4,271 |  | $ | 4,131 |
﻿Less: accumulated amortization |  |  | (1,255) |  |  | (1,103) |
﻿Casino licenses, net |  | $ | 3,016 |  | $ | 3,028 |
﻿ |  |  |  |  |  |  |
﻿ Casinos Poland As of June 30, 2016, Casinos Poland had nine casino licenses, each with an original term of six years, which are finite-lived intangible assets and are amortized over their respective useful lives. Changes in the carrying amount of the Casinos Poland licenses a re as follows: ﻿
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﻿ |  |  |
﻿Amounts in thousands |  |  | Casinos Poland
﻿Balance – December 31, 2015 |  | $ | 730
﻿Amortization |  |  | (200)
﻿Effect of foreign currency translation |  |  | 41
﻿Balance -- June 30, 2016 |  | $ | 571
﻿ |  |  |
﻿ As of June 30, 2016, estimated amortization expense for the CPL casino licenses over the next five years was as follows: ﻿ ﻿
﻿ |  |  |
﻿ |  |  |
﻿Amounts in thousands |  |  |
﻿2016 |  | $ | 191
﻿2017 |  |  | 280
﻿2018 |  |  | 87
﻿2019 |  |  | 13
﻿2020 |  |  | 0
﻿ |  | $ | 571
﻿ |  |  |
﻿ Such estimates do not reflect the impact of future foreign exchange rate changes or the extension of the current licenses. The weighted average period before the current casino licenses expire is 1.4 years. In Poland, gaming licenses are not renewed. Once a gaming license has expired, any gaming company can apply for the license. On July 7, 2016, the casino license at the Katowice casino expired. The Company has applied for the license and expects a decision in September 2016. Until the license is awarded, the casino operations at the Katowice casino have been moved to the Sosnowiec casino. If the license is not granted, the Company will continue operations at the Sosnowiec casino until its license expires in May 2017. The casino license at the Lim Center casino in Warsaw will expire in September 2016. The Company has appl ied for the license and expects a decision in September 2016. ﻿ Century Downs Racetrack and Casino CDR currently has two licenses, one from the AGLC and one from HRA. The licenses are indefinite-lived intangible assets and therefore are not amortized. No impairment charges related to the CDR licenses have been recorded. Changes in the carrying amount of the CDR licenses a re as follows: ﻿ ﻿
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﻿ |  |  |
﻿Amounts in thousands |  | Century Downs
﻿Balance – December 31, 2015 |  | $ | 2,298
﻿Effect of foreign currency translation |  |  | 147
﻿Balance -- June 30, 2016 |  | $ | 2,445
﻿ |  |  |
﻿ ﻿

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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