Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.22.1
GOODWILL AND OTHER INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill. A goodwill balance of $1,091,000 was created as a result of a transaction completed in October 2011 with Prime Table Games, LLC (“PTG”).

Other intangible assets, net. Other intangible assets, net consisted of the following at December 31, 2021 and 2020:

 

 

 

2021

 

 

2020

 

Patents

 

$

13,507,997

 

 

$

13,507,997

 

Customer relationships

 

 

14,040,856

 

 

 

13,942,115

 

Trademarks

 

 

2,880,967

 

 

 

2,880,967

 

Non-compete agreements

 

 

660,000

 

 

 

660,000

 

Software

 

 

283,340

 

 

 

183,415

 

Other intangible assets, gross

 

 

31,373,160

 

 

 

31,174,494

 

Less: accumulated amortization

 

 

(17,695,896

)

 

 

(15,087,598

)

Other intangible assets, net

 

$

13,677,264

 

 

$

16,086,896

 

 

For the years ended December 31, 2021 and 2020, amortization expense related to the finite-lived intangible assets was $2,608,299 and $1,908,858 respectively.

 

Estimated future amortization expense is as follows:

 

Year Ended December 31,

 

Total

 

2022

 

$

2,325,888

 

2023

 

 

1,459,601

 

2024

 

 

1,444,126

 

2025

 

 

1,436,968

 

2026

 

 

1,436,968

 

Thereafter

 

 

5,523,691

 

Total amortization

 

$

13,627,242