Business and Asset Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Consideration Transferred and Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of consideration transferred and the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):




Cash paid	$	106,578
Contingent consideration	7,136
Total consideration	$	113,714
Cash	$	8,861
Location contracts acquired	53,200
Property and equipment:
Video game terminals and equipment	18,000
Land	28
Buildings	548
Vehicles	600
Goodwill	34,511
Total assets acquired	115,748
Accounts payable assumed	(532		)
Accrued expenses assumed	(1,502		)
Net assets acquired	$	113,714

The following table summarizes the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):




Cash paid at closing	$	48,000
Issuance of common stock to seller	10,794
Contingent stock consideration	3,675
Due to seller	2,055
Contingent consideration	595
Total consideration	$	65,119
Cash	$	4,926
Video game terminals and equipment	6,363
Vehicles	126
Amusement and other equipment	1,148
Location contracts acquired	52,716
Total assets acquired	65,279
Accrued expenses assumed	(160		)
Net assets acquired	$	65,119

The following table summarizes the consideration paid and the fair values of the tangible and intangible assets acquired at the acquisition dates for the Company’s 2018 business acquisitions (in thousands):



	Quad B		Skyhigh		G3		Mike's Amusement		Family Amusement		Total
Cash paid at closing	$	610	$	9,268	$	36,500	$	3,500	$	1,512	$	51,390
Contingent consideration payable	—		4,324		1,026		—		—		5,350
Promissory note	—		—		—		—		3,368		3,368
Due to seller	—		618		3,019		—		—		3,637
Total Consideration	$	610	$	14,210	$	40,545	$	3,500	$	4,880	$	63,745
Cash	$	—	$	1,126	$	2,507	$	—	$	—	$	3,633
Video game terminals and equipment	—		506		3,009		—		—		3,515
Amusement and other equipment	472		59		204		420		300		1,455
Location contracts acquired	138		12,519		34,825		3,080		4,580		55,142
Total fair value of net assets acquired	610		14,210		40,545		3,500		4,880		63,745

Schedule of Unaudited Pro Forma Results

The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the years ended December 31, 2019, 2018 and 2017 as if the acquisitions of Grand River, Quad B, Skyhigh, G3, Mike’s Amusements, Family Amusement and Fair Share Gaming, had occurred as of the beginning of the fiscal year prior to the fiscal year of acquisition, after giving effect to certain purchase accounting adjustments. These amounts are based on available financial information of the acquirees prior to the acquisition dates and are not necessarily indicative of what Company’s operating results would have been had the acquisitions actually taken place at the beginning of the fiscal year prior to the fiscal year of acquisition. This unaudited pro forma information for the years ended December 31, does not project revenues and income before income tax expense post acquisition (in thousands).



	2019			2018		2017
Revenues	$	466,466		$	409,142	$	467,676
Net (loss) income	(2,598		)	16,098		26,535

Schedule of Consideration Payable

Current and long-term portions of consideration payable consist of the following at December 31 (in thousands) :



	2019				2018
	Current		Long-Term		Current		Long-Term
TAV	$	490	$	3,497	$	194	$	1,232
Abraham	55		—		207		—
Fair Share Gaming	1,057		899		1,027		—
Family Amusement	293		2,815		357		3,011
Skyhigh	763		3,948		550		3,971
G3	2,952		154		221		806
Grand River	2,304		5,113		—		—
IGS	2,379		—		—		—
Total	$	10,293	$	16,426	$	2,556	$	9,020