Company: ACEL
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001698991-25-000051
Chunk: 20

Company: Accel Entertainment, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 20
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 are amortized over their estimated 7 to 20-year useful lives.

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Table of ContentsAccel Entertainment, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements — (Continued)

Other intangible assets consist of the following as of September 30, 2025 and December 31, 2024 (in thousands):September 30, 2025December 31, 2024Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer Relationships7 years$6,800 $(3,915)$2,885 $6,800 $(3,325)$3,475 Software Applications8 years7,800 (3,250)4,550 7,800 (2,519)5,281 Trade Names20 years11,700 (1,714)9,986 11,700 (1,265)10,435 Operating LicensesIndefinite44,199 N/A44,199 34,749 N/A34,749 $70,499 $(8,879)$61,620 $61,049 $(7,109)$53,940  Amortization expense of other intangible assets was $0.6 million and $1.8 million for both the three and nine months ended September 30, 2025, and 2024, respectively. In May 2025, a one-time payment of $9.5 million was required to open the casino at Fairmount. This payment, which represents a one-time gaming license fee to register the gaming positions in the casino, was recorded as an indefinite-lived operating license. Indefinite-lived intangibles are tested for impairment annually or when triggering events occur. There were no indicators of impairment of indefinite-lived intangibles as of September 30, 2025.

Note 9. Debt

The Company’s debt as of September 30, 2025 and December 31, 2024, consisted of the following (in thousands):September 30,2025December 31,2024Revolving credit facility$— $6,500 Term Loan facility600,000 293,125 Delayed Draw Term Loan facility— 297,750 Total borrowings600,000 597,375 Add: Remaining premium on interest rate caplets financed as