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Goodwill And Intangible Assets | 9 Months Ended
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Sep. 30, 2019
Goodwill And Intangible Assets [Abstract] |
Goodwill And Intangible Assets | 4.GOODWILL AND INTANGIBLE ASSETS ﻿ Goodwill The Company tests 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 September 30, 2019 include the operations at CRA, CDR, CSA and CPL. The Company considers a variety of factors when 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 CRA, CDR, CSA 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 CRA, CDR, CSA and CPL are as follows: ﻿
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﻿ |  | Canada |  | Poland |  |  |
﻿Amounts in thousands |  | Century Resorts Alberta |  | Century Downs |  | Century Casino St. Albert |  | Casinos Poland |  | Total
﻿Balance – December 31, 2018 |  | $ | 3,603 |  | $ | 139 |  | $ | 3,446 |  | $ | 6,805 |  | $ | 13,993
﻿Effect of foreign currency translation |  |  | 109 |  |  | 4 |  |  | 104 |  |  | (424) |  |  | (207)
﻿Balance -- September 30, 2019 |  | $ | 3,712 |  | $ | 143 |  | $ | 3,550 |  | $ | 6,381 |  | $ | 13,786
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﻿ 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, 2018 |  | $ | 108 |  | $ | 1,622 |  | $ | 1,730
﻿Effect of foreign currency translation |  |  | — |  |  | (101) |  |  | (101)
﻿Balance -- September 30, 2019 |  | $ | 108 |  | $ | 1,521 |  | $ | 1,629
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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 as of October 1 each year, 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. There have been no indications of impairment related to the Century Casinos and Casinos Poland trademarks since the Company’s last annual analysis that would necessitate additional impairment testing by the Company. ﻿ Casino Licenses Casino licenses consist of the following:
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﻿ |  | September 30, |  | December 31,
﻿Amounts in thousands |  | 2019 |  | 2018
﻿Finite-lived |  |  |  |  |  |
﻿Casino licenses |  | $ | 2,795 |  | $ | 2,883
﻿Less: accumulated amortization |  |  | (716) |  |  | (708)
﻿Total finite-lived casino licenses, net |  |  | 2,079 |  |  | 2,175
﻿Infinite-lived |  |  |  |  |  |
﻿Casino licenses |  |  | 12,749 |  |  | 12,453
﻿Total infinite-lived casino licenses |  |  | 12,749 |  |  | 12,453
﻿Casino licenses, net |  | $ | 14,828 |  | $ | 14,628
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﻿ Poland As of September 30, 2019, Casinos Poland had eight 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 are as follows:
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﻿Amounts in thousands |  |  | Casinos Poland
﻿Balance – December 31, 2018 |  | $ | 2,175
﻿New casino license |  |  | 412
﻿Amortization |  |  | (362)
﻿Effect of foreign currency translation |  |  | (146)
﻿Balance -- September 30, 2019 |  | $ | 2,079
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As of September 30, 2019, estimated amortization expense for the CPL casino licenses over the next five years was as follows: ﻿ ﻿
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﻿Amounts in thousands |  |  |
﻿2019 |  | $ | 117
﻿2020 |  |  | 466
﻿2021 |  |  | 466
﻿2022 |  |  | 452
﻿2023 |  |  | 388
﻿Thereafter |  |  | 190
﻿ |  | $ | 2,079
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These estimates do not reflect the impact of future foreign exchange rate changes or the continuation of the licenses following their expiration. The weighted average period before the current CPL casino licenses expire is 3.7 years. In Poland, gaming licenses are not renewable. Once a gaming license has expired, any gaming company can apply for the license. In April 2019, CPL combined the two licenses used to operate casinos in the Warsaw Marriott Hotel into one license and transferred the remaining license to the Hilton Hotel in Warsaw. This transfer extends the Hilton Hotel’s license to September 2022 and the Marriott Hotel’s license to July 2024. CPL opened a third casino in Warsaw at the LIM Center in August 2019. ﻿ Canada and Corporate and Other The licenses at CDR, CSA and CCB are infinite-lived intangible assets that are not amortized. CDR holds licenses from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”) and Horse Racing Alberta (“HRA”). CSA holds a license from the AGLC. CCB holds licenses from the Great Britain Gambling Commission. No impairment charges related to the licenses have been recorded. Changes in the carrying amount of the licenses are as follows: ﻿
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﻿ |  | Canada |  | Corporate and Other
﻿Amounts in thousands |  | Century Downs |  | Century Casino St. Albert |  | Century Casino Bath
﻿Balance – December 31, 2018 |  | $ | 2,332 |  | $ | 8,960 |  | $ | 1,161
﻿Effect of foreign currency translation |  |  | 70 |  |  | 270 |  |  | (44)
﻿Balance -- September 30, 2019 |  | $ | 2,402 |  | $ | 9,230 |  | $ | 1,117
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- 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
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