Note 5. Other and Intangible Assets, net

Other and intangible assets, net, consisted of the following amounts (in thousands):

	September 30, 2015			December 31, 2014
	(unaudited)
Goodwill	$	66,826		$	66,826


Gaming licenses (indefinite-lived)	$	482,074		$	482,074
Trade names		6,700			6,700
Customer loyalty program		4,800			4,800

		493,574			493,574
Accumulated amortization trade names		(1,982	)		(547	)
Accumulated amortization customer loyalty programs		(4,800	)		(1,114	)

Total gaming licenses and other intangible assets, net	$	486,792		$	491,913


Land held for development	$	906		$	906
Other		6,298			5,354

Total other assets, net	$	7,204		$	6,260

Goodwill, the excess of the purchase price of acquiring MTR Gaming over the fair market value of the net assets acquired, in the amount of $66.8 million was recorded as of the Merger Date. For financial reporting purposes, goodwill is not amortized, but is reviewed no less than annually or when events or circumstances indicate the carrying value might exceed the market value to determine if there has been an impairment in the recorded value.

The gaming licenses represents intangible assets acquired from the purchase of a gaming entity located in a gaming jurisdiction where competition is limited, such as when only a limited number of gaming operators are allowed to operate. Included in gaming licenses are the gaming and racing licenses of Mountaineer, Presque Isle Downs and Scioto Downs totaling $461.5 million, which reflects the fair value of the licenses calculated as of the Merger Date, as well as the Eldorado Shreveport gaming license in the amount of $20.6 million as of September 30, 2015 and December 31, 2014. Gaming license rights are not subject to amortization as the Company has determined that they have an indefinite useful life.

Trade names are amortized on a straight-line basis over a 3.5 year useful life and the customer loyalty program was amortized on a straight-line basis over a one year useful life. Amortization expense with respect to trade names and the customer loyalty program for the three and nine months ended September 30, 2015 was $1.5 million and $5.0 million, respectively, and $0.2 million and $1.7 million for the three and nine months ended September 30, 2014, respectively, which is included in depreciation and amortization in the accompanying unaudited consolidated statements of operations. Based upon the amortizable intangible assets as of September 30, 2015, the estimated aggregate future amortization expense is $0.5 million for the remainder of 2015, $1.9 million for the years ended December 31, 2016 and 2017 and $0.4 million for the year ended December 31, 2018.