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Goodwill and Intangible Assets, Net
6 Months Ended
Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net

Note 4 – Goodwill and Intangible Assets, Net

Goodwill consisted of the following:

 

(In thousands)

 

June 30, 2017

 

 

December 31, 2016

 

Distributed Gaming

 

$

97,859

 

 

$

97,859

 

Casinos

 

 

7,796

 

 

 

7,796

 

Total Goodwill

 

$

105,655

 

 

$

105,655

 

 

Goodwill was acquired in connection with the 2015 acquisition of Sartini Gaming, Inc. through a merger transaction (the “Merger”), as well as the Montana Acquisitions. See Note 2, Acquisitions, for a description of the intangible assets acquired through the Montana Acquisitions.

 

Intangible assets, net, consisted of the following:

 

 

 

June 30, 2017

 

 

 

Weighted-

 

Gross

 

 

 

 

 

 

 

 

 

 

 

Average Life

 

Carrying

 

 

Cumulative

 

 

Intangible

 

(In thousands)

 

Remaining

 

Value

 

 

Amortization

 

 

Assets, Net

 

Indefinite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming licenses

 

Indefinite

 

$

960

 

 

$

 

 

$

960

 

Trade names

 

Indefinite

 

 

12,200

 

 

 

 

 

 

12,200

 

Other

 

Indefinite

 

 

185

 

 

 

 

 

 

185

 

 

 

 

 

 

13,345

 

 

 

 

 

 

13,345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortizing intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

12.7 years

 

 

78,100

 

 

 

(9,654

)

 

 

68,446

 

Player relationships

 

9.9 years

 

 

7,300

 

 

 

(1,232

)

 

 

6,068

 

Gaming license

 

10.8 years

 

 

2,100

 

 

 

(577

)

 

 

1,523

 

Non-compete agreements

 

3.5 years

 

 

6,000

 

 

 

(1,813

)

 

 

4,187

 

Other

 

8.7 years

 

 

1,769

 

 

 

(421

)

 

 

1,348

 

 

 

 

 

 

95,269

 

 

 

(13,697

)

 

 

81,572

 

Balance, June 30, 2017

 

 

 

$

108,614

 

 

$

(13,697

)

 

$

94,917

 

 

 

 

December 31, 2016

 

 

 

Weighted-

 

Gross

 

 

 

 

 

 

 

 

 

 

 

Average Life

 

Carrying

 

 

Cumulative

 

 

Intangible

 

(In thousands)

 

Remaining

 

Value

 

 

Amortization

 

 

Assets, Net

 

Indefinite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming licenses

 

Indefinite

 

$

960

 

 

$

 

 

$

960

 

Trade names

 

Indefinite

 

 

12,200

 

 

 

 

 

 

12,200

 

Other

 

Indefinite

 

 

110

 

 

 

 

 

 

110

 

 

 

 

 

 

13,270

 

 

 

 

 

 

13,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortizing intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

13.2 years

 

 

78,100

 

 

 

(6,932

)

 

 

71,168

 

Player relationships

 

10.4 years

 

 

7,300

 

 

 

(910

)

 

 

6,390

 

Gaming license

 

11.4 years

 

 

2,100

 

 

 

(508

)

 

 

1,592

 

Non-compete agreements

 

4.0 years

 

 

6,000

 

 

 

(1,168

)

 

 

4,832

 

Other

 

9.5 years

 

 

1,648

 

 

 

(297

)

 

 

1,351

 

 

 

 

 

 

95,148

 

 

 

(9,815

)

 

 

85,333

 

Balance, December 31, 2016

 

 

 

$

108,418

 

 

$

(9,815

)

 

$

98,603

 

 

Total amortization expense related to intangible assets was $2.0 million for both the three months ended June 30, 2017 and 2016, and $3.9 million and $3.4 million for the six months ended June 30, 2017 and 2016, respectively.