Political Illusions of the Cajun Mafia

Note 9—Goodwill and Other Intangible Assets
Goodwill. Goodwill consists of the excess of the acquisition cost over the fair value of the net assets acquired in business
combinations. Goodwill is subject to an annual assessment for impairment during the fourth quarter, or more frequently if there
are indications of possible impairment. There were no impairments to goodwill for the years ended December 31, 2014, 2013,
and 2012. During 2013, we recorded $864.1 million of goodwill related to our acquisitions of Ameristar and Pinnacle Retama
Partners, LLC.
Other Intangible Assets. Other intangible assets consist of indefinite-lived intangible assets that include gaming licenses,
trademarks and a racing license, and amortizing intangible assets, which include customer relationships and favorable leasehold
interests. Our indefinite-lived intangible assets are not subject to amortization, but instead are reviewed annually for
impairment during the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate the carrying
value may not be recoverable.
During 2014, we recorded a $50.0 million intangible asset related to Belterra Park's video lottery terminal (“VLT”) license.
Such amount is included in “Intangible assets, net” in our unaudited Condensed Consolidated Balance Sheet. As of December
31, 2014, we have made payments of $25.0 million for Belterra Park's VLT license and have accrued $25.0 million for the
remaining amount due in 2015. Such amount is included in “Other accrued liabilities” in our unaudited Condensed
Consolidated Balance Sheet.
During 2013, we acquired $529.2 million of intangible other assets related to our acquisition of Ameristar and Pinnacle
Retama Partners, LLC. In November 2013, we completed the sale of our equity interests in the entity developing the Ameristar
Casino Lake Charles project, and as a result, we no longer hold a $29.8 million gaming license acquired through the Ameristar
acquisition.
There were no impairments to indefinite-lived intangible assets for the years ended December 31, 2014 and 2012. During
2013, we determined there was an indication of impairment for our Boomtown Bossier City gaming license due to a decrease in
forecasted financial performance resulting from new competition, and we recorded an impairment of $10.0 million. The fair
value of the license was calculated using discounted cash flows using Level 3 inputs.
The following tables set forth changes in the carrying value of goodwill and other intangible assets:
December 31, 2014
Weighted
Average
Remaining
Useful Life
(years)
Gross
Carrying
Value
Cumulative
Amortization
Cumulative
Impairment
Losses
Intangible
Assets, Net
Goodwill:
(in millions)
Ameristar acquisition Indefinite $ 860.8 $ — $ — $ 860.8
Belterra Park Indefinite 35.8 — — 35.8
Boomtown New Orleans Indefinite 16.8 — — 16.8
Other Indefinite 5.9 — — 5.9
919.3 — — 919.3
Indefinite-lived Intangible Assets:
Gaming licenses Indefinite 318.6 — (31.1) 287.5
Trade names Indefinite 187.2 — — 187.2
Racing license Indefinite 5.0 — — 5.0
510.8 — (31.1) 479.7
Amortizing Intangible Assets:
Player relationships 5 75.1 (29.7) — 45.4
Favorable leasehold interests 31 4.4 (0.2) — 4.2
79.5 (29.9) — 49.6
Total Goodwill and Other Intangible Assets $ 1,509.6 $ (29.9) $ (31.1) $ 1,448.6
Page 275 of 410
82