Note 7. Other and Intangible Assets, net

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


	December 31,
	2015		2014

Goodwill	$	66,826	$	66,826
Gaming license (indefinite-lived)		482,074		482,074
Trade names		9,800		6,700
Loyalty programs		7,700		4,800
		499,574		493,574
Accumulated amortization trade names		(2,462)		(547)
Accumulated amortization loyalty programs		(5,079)		(1,114)
Total goodwill and other intangible assets	$	492,033	$	491,913
Land held for development	$	906	$	906
Other		6,048		5,354
Total Other Assets, net	$	6,954	$	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 December 31, 2015. 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.

Included in gaming licenses is the Eldorado Shreveport gaming license recorded at $20.6 million at both December 31, 2015 and 2014. The license represents an intangible asset 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 $482.1 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 December 31, 2015 and 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 loyalty program is amortized on a straight‑line basis over a one year useful life. Amortization expense with respect to trade names and the loyalty program amounted to $1.9 million and $4.0 million, respectively, for the year ended December 31, 2015, which is included in depreciation and amortization in the consolidated statements of operations. Such amortization expense is expected to be $1.9 million during each of the years ended December 31, 2016 through 2017 and $0.4 million for the year ended December 31, 2018.