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- S-4 Registration of securities issued in business combination transactions
- 3.3 Exhibit 3.3
- 3.4 Exhibit 3.4
- 3.5 Exhibit 3.5
- 3.6 Exhibit 3.6
- 3.7 Exhibit 3.7
- 3.8 Exhibit 3.8
- 3.9 Exhibit 3.9
- 3.10 Exhibit 3.10
- 3.11 Exhibit 3.11
- 3.12 Exhibit 3.12
- 3.13 Exhibit 3.13
- 3.14 Exhibit 3.14
- 3.15 Exhibit 3.15
- 3.16 Exhibit 3.16
- 3.17 Exhibit 3.17
- 3.18 Exhibit 3.18
- 3.19 Exhibit 3.19
- 3.20 Exhibit 3.20
- 3.21 Exhibit 3.21
- 3.22 Exhibit 3.22
- 3.23 Exhibit 3.23
- 3.24 Exhibit 3.24
- 3.25 Exhibit 3.25
- 3.26 Exhibit 3.26
- 3.27 Exhibit 3.27
- 3.28 Exhibit 3.28
- 3.29 Exhibit 3.29
- 3.30 Exhibit 3.30
- 3.31 Exhibit 3.31
- 3.32 Exhibit 3.32
- 3.33 Exhibit 3.33
- 3.34 Exhibit 3.34
- 3.35 Exhibit 3.35
- 3.36 Exhibit 3.36
- 3.37 Exhibit 3.37
- 3.38 Exhibit 3.38
- 3.39 Exhibit 3.39
- 3.40 Exhibit 3.40
- 3.41 Exhibit 3.41
- 3.42 Exhibit 3.42
- 3.43 Exhibit 3.43
- 3.44 Exhibit 3.44
- 3.45 Exhibit 3.45
- 3.46 Exhibit 3.46
- 3.47 Exhibit 3.47
- 3.48 Exhibit 3.48
- 3.49 Exhibit 3.49
- 3.50 Exhibit 3.50
- 3.51 Exhibit 3.51
- 3.52 Exhibit 3.52
- 3.53 Exhibit 3.53
- 3.54 Exhibit 3.54
- 3.55 Exhibit 3.55
- 3.56 Exhibit 3.56
- 3.57 Exhibit 3.57
- 3.58 Exhibit 3.58
- 3.59 Exhibit 3.59
- 3.60 Exhibit 3.60
- 3.61 Exhibit 3.61
- 3.62 Exhibit 3.62
- 3.63 Exhibit 3.63
- 3.64 Exhibit 3.64
- 3.65 Exhibit 3.65
- 3.66 Exhibit 3.66
- 3.67 Exhibit 3.67
- 3.68 Exhibit 3.68
- 3.69 Exhibit 3.69
- 3.70 Exhibit 3.70
- 3.71 Exhibit 3.71
- 3.72 Exhibit 3.72
- 3.73 Exhibit 3.73
- 3.74 Exhibit 3.74
- 3.75 Exhibit 3.75
- 5.1 Exhibit 5.1
- 5.2 Exhibit 5.2
- 12.1 Exhibit 12.1
- 21.1 Exhibit 21.1
- 23.1 Exhibit 23.1
- 25.1 Exhibit 25.1
- 99.1 Exhibit 99.1
- 99.2 Exhibit 99.2
- 99.3 Exhibit 99.3
- 99.4 Exhibit 99.4
- 99.5 Exhibit 99.5
- 20 Jan 10 Registration of securities issued in business combination transactions (amended)
- 11 Dec 09 Registration of securities issued in business combination transactions (amended)
- 20 Nov 09 Registration of securities issued in business combination transactions (amended)
- 30 Sep 09 Registration of securities issued in business combination transactions
Exhibit 12.1
American Casino & Entertainment Properties LLC
Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratios)
|
| Six Months Ended |
|
|
|
|
|
|
|
|
|
|
| ||
|
| June 30, |
| Year ended December 31, |
| ||||||||||
|
| 2009 |
| 2008 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes and extraordinary items |
| (2,449 | ) | (5,378 | ) | (39,760 | ) | 54,233 |
| 43,962 |
| 48,823 |
| 30,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges (1) |
| 22,908 |
| 29,187 |
| 65,667 |
| 21,052 |
| 21,912 |
| 19,043 |
| 19,162 |
|
Amortization of capitalized interest |
|
|
|
|
|
|
| 21 |
| 59 |
| 59 |
| 206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings as defined |
| 20,459 |
| 23,809 |
| 25,907 |
| 75,306 |
| 65,933 |
| 67,925 |
| 50,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges (including capitalized items) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense |
| 18,825 |
| 25,658 |
| 57,097 |
| 19,378 |
| 20,072 |
| 17,794 |
| 17,793 |
|
Interest Capitalized |
| — |
| — |
| — |
| 21 |
| 110 |
| — |
| — |
|
Amortized capitalized expenses related to indebtedness |
| 3,852 |
| 3,235 |
| 8,015 |
| 1,174 |
| 1,132 |
| 1,052 |
| 1,146 |
|
Estimated interest within rental expense |
| 231 |
| 294 |
| 556 |
| 479 |
| 599 |
| 197 |
| 223 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges as defined |
| 22,908 |
| 29,187 |
| 65,668 |
| 21,052 |
| 21,913 |
| 19,043 |
| 19,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of income (loss) to fixed charges |
| — | (2) | — | (2) | — | (2) | 3.6 |
| 3.0 |
| 3.6 |
| 2.6 |
|
(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 twelve months ended December 31, 2008 and for the six months ended June 30, 2008 and June 30, 2009, the ratio coverage was less than 1:1 for these periods. We would have had to have generated additional earnings of $39,761,000, $5,378,000 and $2,449,000 for the twelve months ended December 31, 2008 and the six months ended June 30, 2008 and June 30, 2009, respectively, to have achieved coverage ratios of 1:1.