| GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS Goodwill by reportable segment is as follows: | | | | | | | | | | | | | (in thousands) | June 30, 2026 (Successor) | | December 31, 2025 (Successor) | | Casinos & Resorts | $ | 638,990 | | | $ | 642,055 | | Bally’s Intralot B2B(1) | 976,265 | | | 994,179 | | | Bally’s Intralot B2C | 1,714,264 | | | 1,755,394 | | | | | | | Corporate & Other | 41,265 | | | 41,265 | | | Total | $ | 3,370,784 | | | $ | 3,432,893 | |
__________________________________ (1) Amounts are shown net of accumulated goodwill impairment charges of $73.3 million.
The change in intangible assets, net is as follows (in thousands):
| | | | | | Intangible assets, net as of December 31, 2025 (Successor) | $ | 3,000,983 | | | | | Measurement period adjustments | 20,634 | | | Additions in current period | 2,000 | | | Effect of foreign exchange | (40,473) | | | | | Software development costs | 17,620 | | | Amortization expense | (138,035) | | Intangible assets, net as of June 30, 2026 (Successor) | $ | 2,862,729 | |
The Company’s identifiable intangible assets consist of the following: | | | | | | | | | | | | | | | | | | | June 30, 2026 (Successor) | | (in thousands) | Gross Carrying Amount | | Accumulated
Amortization | | Net | | Amortizable intangible assets: | | | | | | | Trade names | $ | 141,724 | | | $ | (14,128) | | | $ | 127,596 | | | Customer relationships | 583,986 | | | (143,067) | | | 440,919 | | | Developed technology | 523,996 | | | (89,557) | | | 434,439 | | | Internally developed software | 48,415 | | | (4,070) | | | 44,345 | | | Gaming licenses | 1,281,780 | | | (69,095) | | | 1,212,685 | | | Licensing asset | 33,933 | | | (3,769) | | | 30,164 | | | Backlog | 303,113 | | | (27,494) | | | 275,619 | | | Other | 25,355 | | | (6,393) | | | 18,962 | | | Total amortizable intangible assets | 2,942,302 | | | (357,573) | | | 2,584,729 | | | Intangible assets not subject to amortization: | | | | | | | Trade names | 278,000 | | | — | | | 278,000 | | | Total unamortizable intangible assets | 278,000 | | | — | | | 278,000 | | | Total intangible assets, net | $ | 3,220,302 | | | $ | (357,573) | | | $ | 2,862,729 | |
| | | | | | | | | | | | | | | | | | | December 31, 2025 (Successor) | | (in thousands) | Gross Carrying Amount | | Accumulated
Amortization | | Net | | Amortizable intangible assets: | | | | | | | Gaming licenses | $ | 1,279,780 | | | $ | (43,882) | | | $ | 1,235,898 | | | Customer relationships | 588,320 | | | (91,471) | | | 496,849 | | | Developed technology | 535,530 | | | (53,724) | | | 481,806 | | | Backlog | 297,551 | | | (8,554) | | | 288,997 | | | Trade names | 144,801 | | | (8,628) | | | 136,173 | | | Licensing asset | 34,902 | | | (1,384) | | | 33,518 | | | Internally developed software | 31,214 | | | (1,351) | | | 29,863 | | | Other | 25,412 | | | (5,533) | | | 19,879 | | | Total amortizable intangible assets | 2,937,510 | | | (214,527) | | | 2,722,983 | | | Intangible assets not subject to amortization: | | | | | | | Trade names | 278,000 | | | — | | | 278,000 | | | Total unamortizable intangible assets | 278,000 | | | — | | | 278,000 | | | Total intangible assets, net | $ | 3,215,510 | | | $ | (214,527) | | | $ | 3,000,983 | |
Amortization of intangible assets was approximately $69.3 million and $58.8 million for the three months ended June 30, 2026 and 2025 (Successor), and $138.0 million, $91.7 million and $14.8 million for the six months ended June 30, 2026 (Successor), the period from February 8, 2025 to June 30, 2025 (Successor), and the period from January 1, 2025 to February 7, 2025 (Predecessor), respectively. The following table reflects the remaining amortization expense associated with the finite-lived intangible assets as of June 30, 2026 (Successor): | | | | | | | (in thousands) | | Remaining 2026 | $ | 148,429 | | 2027 | 296,127 | | 2028 | 274,595 | | 2029 | 204,754 | | 2030 | 179,866 | | | Thereafter | 1,480,958 | | | Total | $ | 2,584,729 | |
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