Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company tests goodwill and indefinite-lived intangible assets for impairment annually during the fourth quarter of each year, and whenever events or circumstances indicate that it is more likely than not that the carrying value of a reporting unit exceeds its fair value. Finite-lived intangible assets are evaluated for potential impairment whenever there is an indicator that the carrying value of an asset group may not be recoverable. Based on the results of its interim impairment assessments conducted during the three and nine months ended September 30, 2023 and 2022, the Company concluded that there was no impairment of the Company’s goodwill and intangible assets.

The following table summarizes goodwill balances by reportable segment:


(In thousands)	Nevada Casino Resorts		Nevada Locals Casinos		Nevada Taverns		Distributed Gaming		Total Goodwill
Balance, December 31, 2022	$	22,105	$	38,187	$	20,459	$	77,645	$	158,396
Balance, September 30, 2023	$	22,105	$	38,187	$	20,459	$	—	$	80,751

Intangible assets, net, consisted of the following:


	September 30, 2023
(In thousands)	Useful Life (Years)	Gross Carrying Value		Cumulative Amortization		Cumulative Impairment		Intangible Assets, Net
Indefinite-lived intangible assets
Trade names	Indefinite	$	53,690	$	—	$	(6,890)	$	46,800
		53,690		—		(6,890)		46,800
Amortizing intangible assets
Player relationships	2-14	42,990		(40,908)		—		2,082
Non-compete agreements	2-5	3,957		(3,776)		—		181
Other	4-25	45		(45)		—		—
		46,992		(44,729)		—		2,263
Balance, September 30, 2023		$	100,682	$	(44,729)	$	(6,890)	$	49,063


	December 31, 2022
(In thousands)	Useful Life (Years)	Gross Carrying Value		Cumulative Amortization		Cumulative Impairment		Intangible Assets, Net
Indefinite-lived intangible assets
Trade names	Indefinite	$	53,690	$	—	$	(6,890)	$	46,800
		53,690		—		(6,890)		46,800
Amortizing intangible assets
Customer relationships	4-16	81,105		(41,743)		—		39,362
Player relationships	2-14	42,990		(40,455)		—		2,535
Non-compete agreements	2-5	9,840		(9,114)		—		726
Other	4-25	1,366		(1,237)		—		129
		135,301		(92,549)		—		42,752
Balance, December 31, 2022		$	188,991	$	(92,549)	$	(6,890)	$	89,552

Total amortization expense related to intangible assets was $0.3 million and $2.0 million for the three and nine months ended September 30, 2023, respectively, and $1.9 million and $5.6 million for the three and nine months ended September 30, 2022, respectively.