GOODWILL AND INTANGIBLE ASSETS (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Goodwill |
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.
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| Intangible Asset, Finite-Lived |
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 | |
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| Intangible Asset, Indefinite-Lived |
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 | |
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| Schedule of Remaining Amortization Expense |
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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