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EXHIBIT 12.1
Calculation of Ratio of Earnings to Fixed Charges
Jacobs Entertainment, Inc. ratio of earnings to fixed charges for the years ended 2000 through 2004 and for the three month peirods ended March 31, 2004 and 2005.
| | As of and for Year Ended December 31, | As of and for the Three Months Ended March 31, | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2000 | 2001 | 2002 | 2003 | 2004 | 2004 | 2005 | ||||||||||||||||
| | (in thousands, except ratio data) | ||||||||||||||||||||||
| Earnings: | |||||||||||||||||||||||
| (Loss) income before equity earnings of investments and minority interests | $ | (1,108 | ) | $ | (45 | ) | $ | 4,745 | $ | 2,631 | $ | 3,891 | $ | 3,455 | $ | 1.098 | |||||||
| Add: Fixed charges | 3,206 | 4,831 | 18,703 | 20,327 | 20,468 | 5,052 | 5,429 | ||||||||||||||||
| Add: Amortization of capitalized interest | 59 | 59 | 59 | 62 | 65 | 16 | 16 | ||||||||||||||||
| Add: Distributed income of equity investees | 2,500 | 6,208 | 126 | ||||||||||||||||||||
| Less: Interest capitalized | (140 | ) | (110 | ) | (1 | ) | (4 | ) | |||||||||||||||
| Total Earnings | $ | 4,657 | $ | 11,053 | $ | 23,633 | 22,880 | $ | 24,314 | $ | 8,522 | $ | 6,539 | ||||||||||
| Fixed Charges: | |||||||||||||||||||||||
| Interest expense | $ | 2,519 | $ | 4,230 | $ | 18,300 | $ | 19,645 | $ | 19,705 | $ | 4,892 | $ | 5,263 | |||||||||
| Interest capitalized | 140 | 110 | 1 | 4 | |||||||||||||||||||
| Amortization of capitalized expenses related to indebtedness | 28 | 4 | |||||||||||||||||||||
| Estimated interest on rental expense | 659 | 597 | 403 | 542 | 653 | 159 | 162 | ||||||||||||||||
| Total Fixed Charges | $ | 3,206 | $ | 4,831 | $ | 18,703 | $ | 20,327 | $ | 20,468 | $ | 5,052 | $ | 5,429 | |||||||||
| Ratio of Earnings to | |||||||||||||||||||||||
| Fixed Charges | 1.45 | 2.29 | 1.26 | 1.13 | 1.19 | 1.69 | 1.20 | ||||||||||||||||
Calculation of Ratio of Earnings to Fixed Charges