Quarterly report pursuant to Section 13 or 15(d)

ACCRUED LIABILITIES

v3.21.2
ACCRUED LIABILITIES
 6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]  
ACCRUED LIABILITIES ACCRUED LIABILITIES
Accrued liabilities consist of the following:
June 30,
2021		 December 31,
2020
MGM profit share buyout $ —  $ 20,000 
Accrued payroll and vacation 11,093  4,860 
Other accruals 3,558  4,229 
Total accrued liabilities $ 14,651  $ 29,089 
MGM Profit Share Buyout
As further described in Note 4 to these condensed consolidated financial statements, in October 2020, the Company and MGM agreed to amend the Marketing Agreement to terminate the profit share provision. In exchange, the Company agreed to remit to MGM a one-time payment of $20.0 million, payable on the earliest to occur of (i) the PIPE Investment, (ii) the date that the Company waives MGM’s commitment to participate in the PIPE Investment, or (iii) two years from the date of the MGM Amendment. At the Closing of the Business Combination, the Company satisfied all obligations related to the MGM profit share buyout.
Accrued payroll and vacation
Accrued payroll and vacation includes a $5.0 million transaction bonus to employees per the terms of the Merger Agreement. This amount was subsequently paid in July 2021.
Other Accruals
Other accruals include various expenses for accrued accounts payable, deferred rent, accrued legal and accounting services, accrued royalties, accrued property and equipment, accrued advertising, and income taxes payable.