Intangible Assets, Net

12 Months Ended

Dec. 31, 2012

Intangible Assets, Net

Note 6 — Intangible Assets, Net

Intangible assets consist of the following (in thousands):

	December 31,
	2012			2011
Sands Bethlehem gaming license and certificate	$	66,500		$	66,500
Marina Bay Sands gaming license		30,710			28,849
Less — accumulated amortization		(27,440	)		(16,161	)
		3,270			12,688
Trademarks and other		1,139			1,121
Less — accumulated amortization		(291	)		(241	)
		848			880
Total intangible assets, net	$	70,618		$	80,068

In August 2007 and July 2010, the Company was issued a gaming license and certificate from the Pennsylvania Gaming Control Board for its slots and table games operations at Sands Bethlehem, respectively, which were acquired for $50.0 million and $16.5 million, respectively. The license and certificate were determined to have indefinite lives and therefore, are not subject to amortization. In April 2010, the Company was issued a gaming license from the Singapore Casino Regulatory Authority (the “CRA”) for its gaming operations at Marina Bay Sands, which required payment of a license fee of SGD 37.5 million (approximately $30.7 million at exchange rates in effect on December 31, 2012). This license is being amortized over its three-year term and is renewable upon submitting an application, paying the applicable license fee and meeting the requirements as determined by the CRA. The Company has filed a renewal application and believes that it meets the renewal requirements as determined by the CRA; however, no assurance can be given that the license renewal will be granted or for what period of time it will be granted.

Amortization expense was $10.0 million, $10.0 million and $6.3 million for the years ended December 31, 2012, 2011 and 2010, respectively. The estimated future amortization expense is approximately $3.3 million and $38,000 for the years ending December 31, 2013 and thereafter, respectively.