Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

. Intangible Assets, net

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


	June 30, 2020		December 31, 2019		Useful Life
Goodwill	$	810,187	$	909,717	Indefinite

Gaming licenses	$	872,158	$	893,302	Indefinite
Trade names	146,279		165,479		Indefinite
Player loyalty programs	97,935		100,694		3 - 4 years
Subtotal	1,116,372		1,159,475
Accumulated amortization player loyalty programs	(59,943)		(48,077)
Total gaming licenses and other intangible assets, net	$	1,056,429	$	1,111,398

Gaming licenses represent 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 in the jurisdiction. These gaming license rights are not subject to amortization as the Company has determined that they have indefinite useful lives.

Goodwill represents the excess of the purchase prices of acquiring MTR Gaming, Isle, Elgin and Tropicana over the fair market value of the net assets acquired. The following table presents the change to goodwill for the six months ended June 30, 2020 (in thousands):


	Goodwill		Accumulated Impairment		Goodwill, net
December 31, 2019	$	921,408	$	(11,691)	$	909,717
Impairments	—		(99,530)		(99,530)
Assets held for sale (see Note 5)	(5)		5		—
June 30, 2020	$	921,403	$	(111,216)	$	810,187

During the six months ended June 30, 2020, the Company recognized impairment charges related to goodwill and trade names totaling $99.5 million and $15.6 million, respectively, due to declines in recent performance and the expected impact on future cash flows as a result of COVID-19.

Additionally, in conjunction with the classification of MontBleu’s operations as assets held for sale as of June 30, 2020 (see Note 5) as a result of the announced sale, an impairment charge totaling $45.6 million was recorded due to the carrying value exceeding the estimate sales proceeds. Trade names, property, plant and equipment and right-of-use assets were impaired by $4.6 million, $23.2 million and $17.8 million, respectively. Impairment charges recorded by segment for the six months ended June 30, 2020 (in thousands) were as follows:


	West		South		Midwest		Total
Goodwill	$	52,805	$	15,625	$	31,100	$	99,530
Trade names	8,990		5,700		5,500		20,190
Property, plant and equipment (see Note 5)	23,228		—		—		23,228
Right of use assets (see Note 5)	17,810		—		—		17,810
	$	102,833	$	21,325	$	36,600	$	160,758

Amortization expense with respect to player loyalty programs for the three months ended June 30, 2020 and 2019 totaled $6.7 million and $7.7 million, respectively, and $14.2 million and $15.3 million for the six months ended June 30, 2020 and 2019, respectively, which is included in depreciation and amortization in the Consolidated Statements of Operations. Such amortization expense is expected to be $12.8 million for the remainder of 2020 and $21.2 million and $4.2 million for the years ended December 31, 2021 and 2022, respectively.