EXHIBIT 12.1
ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC. AND SUBSIDIARY
RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||
| December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000(1) | |||||||||||||||||
| (In thousands) | |||||||||||||||||||||
| Income (loss) before income taxes | $ | (9,218 | ) | $ | (16,895 | ) | $ | (6,985 | ) | $ | (3,274 | ) | $ | 19,034 | |||||||
| Fixed charges | 9,631 | 13,593 | 13,810 | 13,562 | 3,865 | ||||||||||||||||
| Amortization of capitalized interest | 353 | 303 | 237 | — | — | ||||||||||||||||
| Income (loss) as defined | $ | 766 | $ | (2,999 | ) | $ | 7,062 | $ | 10,288 | $ | 22,899 | ||||||||||
| Fixed charges: | |||||||||||||||||||||
| Interest expense | $ | 7,767 | $ | 12,026 | $ | 11,640 | $ | 11,279 | $ | 3,499 | |||||||||||
| Interest capitalized | 86 | 300 | 766 | 1,207 | — | ||||||||||||||||
| Amortized capitalized expenses related to indebtedness | 1,116 | 555 | 555 | 174 | 10 | ||||||||||||||||
| Estimated interest within rental expense | 662 | 712 | 849 | 902 | 356 | ||||||||||||||||
| Fixed charges as defined | $ | 9,631 | $ | 13,593 | $ | 13,810 | $ | 13,562 | $ | 3,865 | |||||||||||
| Ratio of income (loss) to fixed charges | 0.1 | x | (0.2 | )x | 0.5 | x | 0.8 | x | 5.9 | x | |||||||||||
| Deficiency of less than one-to-one ratio | $ | 8,865 | $ | 16,592 | $ | 6,748 | $ | 3,274 | $ | — | |||||||||||
| (1) | Income before income taxes includes $14,795 of gain on pre-petition debt discharge and is presented for combined full year 2000. |