Exhibit 12.1
Lakes Entertainment, Inc.
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except percentages)
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands, except percentages)
The following table sets forth our ratio of earnings to fixed charges for the periods specified. As earnings were inadequate to cover the fixed charges in certain periods, we have provided the deficiency amounts.
For the | For the | For the | For the | For the | Nine Months | |||||||||||||||||||
Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended | |||||||||||||||||||
January 2, | January 1, | December 31, | December 30, | December 28, | September 27, | |||||||||||||||||||
(in thousands) | 2005 | 2006 | 2006 | 2007 | 2008 | 2009 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes and loss from equity investee | $ | (901 | ) | $ | (9,889 | ) | $ | 18,866 | $ | (5,315 | ) | $ | (68,917 | ) | $ | 6,114 | ||||||||
Add: Fixed Charges | 75 | 141 | 10,628 | 1,180 | 1,720 | 1,465 | ||||||||||||||||||
Earnings as defined | $ | (826 | ) | $ | (9,748 | ) | $ | 29,494 | $ | (4,135 | ) | $ | (67,197 | ) | $ | 7,579 | ||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | — | 66 | 9,465 | 951 | 1,551 | 1,321 | ||||||||||||||||||
Amortization of debt discount | — | — | 498 | 33 | — | — | ||||||||||||||||||
Amortization of debt issuance costs | — | — | 590 | 95 | 5 | 23 | ||||||||||||||||||
Estimated interest within rental expense | 75 | 75 | 75 | 101 | 164 | 121 | ||||||||||||||||||
Total Fixed Charges | $ | 75 | $ | 141 | $ | 10,628 | $ | 1,180 | $ | 1,720 | $ | 1,465 | ||||||||||||
Ratio of Earnings to Fixed Charges | — | — | 2.8 | — | — | 5.2 | ||||||||||||||||||
Coverage deficiency | $ | (901 | ) | $ | (9,889 | ) | $ | — | $ | (5,315 | ) | $ | (68,917 | ) | $ | — | ||||||||