Company: ACEL
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001698991-25-000034
Chunk: 18

Company: Accel Entertainment, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 18
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ortization expense of location contracts acquired was $5.0 million and $10.1 million for the three and six months ended June 30, 2025, respectively. In comparison, amortization expense for location contracts acquired was $4.4 million and $8.7 million for the three and six months ended June 30, 2024, respectively.

Note 8. Goodwill and Other Intangible Assets

The Company had goodwill of $116.3 million as of both June 30, 2025 and December 31, 2024, respectively, of which $37.2 million was deductible for tax purposes as of June 30, 2025. Goodwill is tested for impairment annually or when triggering events occur. There were no indicators of impairment of goodwill as of June 30, 2025.Other intangible assetsOther intangible assets, net consist of definite-lived trade names, customer relationships, software applications and indefinite-lived operating licenses. Other intangible assets are amortized over their estimated 7 to 20-year useful lives.Other intangible assets consist of the following as of June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 2024Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountCustomer Relationships7 years$6,800 $(3,718)$3,082 $6,800 $(3,325)$3,475 Software Applications8 years7,800 (3,006)4,794 7,800 (2,519)5,281 Trade Names20 years11,700 (1,568)10,132 11,700 (1,265)10,435 Operating LicensesIndefinite44,199 N/A44,199 34,749 N/A34,749 $70,499 $(8,292)$62,207 $61,049 $(7,109)$53,940  Amortization expense of other intangible assets was $0.6 million and $1.2 million for both the three and six months ended June 30, 2025, and 2024, respectively. In May 2025, a one-time payment of $9.5 million was required to open the casino at Fairmount Park - Casino