Golden Entertainment (GDEN) 10-K2017 FY Annual report

Filed: 16 Mar 18, 12:00am

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Removed: accelerated, accrual, accrue, add, advanced, Alai, alleging, Argovitz, arrangement, attendant, awarding, back, Beach, bid, Boyd, carryback, Certification, Clean, closed, commenced, compensatory, complexity, compute, Concurrently, Conservation, convention, create, Dania, DEC, delinquent, developed, dispute, duly, effected, exchanged, filer, Florida, forfeiture, Hawk, identification, indirect, institution, Interactive, involvement, Jai, Jerry, knowledge, lack, LACO, loaned, mark, Minnetonka, necessarily, NOL, Occupational, occurring, par, poker, post, posted, preceding, Proportional, protect, qualifying, racetrack, redeeming, relate, rendered, resource, response, restated, safety, seasoned, shell, Shingle, shorter, site, split, standpoint, submit, submitted, supporting, thereunto, transition, ultimately, undersigned, unpaid, utilized, vest, Web, weekly, wholly

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Exhibit 12.1

Golden Entertainment, Inc.

Computation of Ratio of Earnings to Fixed Charges

	Fiscal Year Ended
	Dec. 29,		Dec. 28,			Dec. 31,		Dec. 31,		Dec. 31,
(In thousands)	2013		2014			2015⁽¹⁾		2016		2017
Computation of earnings:
Income (loss) before income tax benefit	$	18,651	$	(24,845	)	$	14,551	$	11,975	$	(5,750	)
Fixed charges, as calculated below		1,265		1,228			3,500		8,272		22,386
Total Earnings	$	19,916	$	(23,617	)	$	18,051	$	20,247	$	16,636

Computation of fixed charges:
Interest expense, including amortization of debt discount and issuance costs		1,244		1,209			2,810		6,455		19,664
Estimated interest expense portion of rental expense⁽²⁾		21		19			690		1,817		2,722
Total Fixed Charges	$	1,265	$	1,228		$	3,500	$	8,272	$	22,386

Ratio of earnings (loss) to fixed charges⁽³⁾		15.74	-				5.16		2.45		0.74

(1)

(2)

(3)

Our consolidated financial statements include the operating results of Sartini Gaming, Inc. from and after August 1, 2015, following the consummation of the acquisition thereof.

Rental expense amounts relate to the interest factor inherent in our operating leases. The portion of total rental expense that represents the interest factor is estimated to be the effective rate during such time.

Our earnings were inadequate to cover fixed charges for the fiscal year ended December 28, 2014 by $24.8 million.

For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are identical to the ratios presented in the tables above.

US-DOCS\95517139.1