Exhibit 12.1
American Casino & Entertainment Properties LLC
Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratios)
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| Nine Months Ended |
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| September 30, |
| Year ended December 31, |
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| 2009 |
| 2008 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
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Income (loss) before income taxes and extraordinary items |
| (4,231 | ) | (13,345 | ) | (39,760 | ) | 54,233 |
| 43,962 |
| 48,823 |
| 30,972 |
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Fixed Charges (1) |
| 28,737 |
| 46,547 |
| 65,667 |
| 21,052 |
| 21,912 |
| 19,043 |
| 19,162 |
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Amortization of capitalized interest |
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| 21 |
| 59 |
| 59 |
| 206 |
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Earnings as defined |
| 24,506 |
| 33,202 |
| 25,907 |
| 75,306 |
| 65,933 |
| 67,925 |
| 50,340 |
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Fixed Charges (including capitalized items) |
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Interest Expense |
| 24,027 |
| 41,186 |
| 57,097 |
| 19,378 |
| 20,072 |
| 17,794 |
| 17,793 |
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Interest Capitalized |
| — |
| — |
| — |
| 21 |
| 110 |
| — |
| — |
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Amortized capitalized expenses related to indebtedness |
| 4,378 |
| 4,923 |
| 8,015 |
| 1,174 |
| 1,132 |
| 1,052 |
| 1,146 |
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Estimated interest within rental expense |
| 332 |
| 438 |
| 556 |
| 479 |
| 599 |
| 197 |
| 223 |
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Fixed charges as defined |
| 28,737 |
| 46,547 |
| 65,668 |
| 21,052 |
| 21,913 |
| 19,043 |
| 19,162 |
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Ratio of income (loss) to fixed charges |
| — | (2) | — | (2) | — | (2) | 3.6 |
| 3.0 |
| 3.6 |
| 2.6 |
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(1) Fixed charges consist of interest, whether expensed or capitalized, amortization of debt discounts, premiums and issuance costs.
(2) Due to our losses for the nine months ended September 30, 2009 and September 30, 2008 and for the twelve months ended December 31, 2008, the ratio coverage was less than 1:1 for these periods. We would have had to have generated additional earnings of $4,231,000, $13,345,000 and $39,761,000 for the nine months ended September 30, 2009 and September 30, 2008 and the twelve months ended December 31, 2008, respectively, to have achieved coverage ratios of 1:1.