NOTE 7 - INTANGIBLE ASSETS, NET |
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| INTANGIBLE ASSETS, NET | NOTE 7 — INTANGIBLE ASSETS, NET
Intangible assets, net at December 31, 2025 and 2024 are summarized as follows:
*Includes intangible asset acquisition of gaming license of $4.0 million.
Trademarks, domain names and gaming license have no amortization as the Company recognizes these identified intangibles assets as having an indefinite useful life. The Company considered various economic and competitive factors, including but not limited to, the life of trademarks that have been in existence with trademarks generally in the casino industry. The Company expects to generate cash flows from these intangible assets for an indefinite period of time. The Company’s trademarks and domain names are located in Europe. During the year ended December 31, 2025, no indicators of impairment have been noted. During the year ended December 31, 2023, the Company acquired the Fruta.com domain for $40 thousand. There was no impairment during the years ended December 31, 2025 and 2024.
For the year ended December 31, 2025, the Company capitalized $161 thousand of costs incurred with respect to internal-use software, related to development of enhancements to the functionality of the software placed into service during the fourth quarter of 2024. The customer database was fully amortized in 2014, but was still in use through December 31, 2025. The Company recorded $253 thousand in amortization expense on internal-use software for the year ended December 31, 2025, which is included in general and administrative expenses in the consolidated statements of operations. The Company’s internal use software is in use in Europe. The Company recorded $199 thousand in amortization expense on internal-use software for the year ended December 31, 2024.
As of December 31, 2025, the estimated future amortization expense associated with the Company’s finite-lived intangible assets for each of the five succeeding fiscal years is as follows:
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