XML 25 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Intangible Assets
6 Months Ended
Jun. 30, 2018
Intangible Assets  
Intangible Assets Disclosure [Text Block]

 

5. Intangible Assets

 

Indefinite‑life intangible assets consist primarily of gaming licenses. The table below presents the gross carrying value, accumulated amortization, and net book value of each major class of other intangible assets at June 30, 2018 and December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2018

 

December 31, 2017

 

 

 

(in thousands)

 

 

    

Gross

    

 

 

    

 

 

    

Gross

    

 

 

    

 

 

 

 

 

Carrying

 

Accumulated

 

Net Book

 

Carrying

 

Accumulated

 

Net Book

 

 

 

Value

 

Amortization

 

Value

 

Value

 

Amortization

 

Value

 

Indefinite-life intangible assets

 

$

433,005

 

$

 —

 

$

433,005

 

$

375,405

 

$

 —

 

$

375,405

 

Other intangible assets

 

 

135,195

 

 

92,883

 

 

42,312

 

 

131,483

 

 

84,282

 

 

47,201

 

Total

 

$

568,200

 

$

92,883

 

$

475,317

 

$

506,888

 

$

84,282

 

$

422,606

 

 

Total other intangible assets increased by $52.7 million for the six months ended June 30, 2018 primarily due to the purchase of two Category 4 gaming licenses to operate up to 750 slot machines and initially up to 30 table games in York County, Pennsylvania for $50.1 million and in Berks/Lancaster County, Pennsylvania for $7.5 million, partially offset by $8.6 million in amortization of definite-lived intangible assets.  Other intangible assets have a weighted average remaining amortization period of approximately 4.4 years.

 

The Company’s intangible asset amortization expense was $4.1 million and $8.6 million, for the three and six months ended June 30, 2018, respectively, as compared to $5.3 million and $10.5 million for the three and six months ended June 30, 2017, respectively.

 

The following table presents expected intangible asset amortization expense based on existing intangible assets as of June 30, 2018 (in thousands):

 

 

 

 

Remaining 2018

$

6,092

2019

 

9,897

2020

 

6,777

2021

 

3,869

2022

 

3,635

Thereafter

 

12,042

Total

$

42,312