Caesars Entertainment (CZR) S-3ASR Automatic shelf registration

EXHIBIT 12.1

ELDORADO RESORTS, INC.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six months ended June 30,							Year ended December 31,
(dollars in thousands)	2017				2016			2016			2015				2014				2013			2012
	(unaudited)
Earnings available for fixed charges:
Pre-tax (loss) income from continuing operations before (income) loss from unconsolidated affiliates and noncontrolling interests		(85,199	)			21,976			38,046			41,143				(15,156	)			15,542			7,961
Add: Fixed charges (from below)		40,490				25,797			50,941			61,876				30,752				15,681			16,069
Add: Distributions from unconsolidated affiliates		—				—			—			—				509				1,626			893
Less: Capitalized interest		—				—			—			(151	)			—				—			—
Less: Net loss—noncontrolling interest		—				—			—			—				103				—			—
Total (Loss) Earnings available for fixed charges		(44,709	)			47,773			88,987			102,868				16,208				32,849			24,923
Fixed charges:
Interest expense		40,490				25,797			50,941			61,725				30,752				15,681			16,069
Capitalized interest		—				—			—			151				—				—			—
Total Fixed charges		40,490				25,797			50,941			61,876				30,752				15,681			16,069
Ratio of earnings to fixed charges		-1.1		x		1.9	x		1.7	x		1.7		x		0.5		x		2.1	x		1.6	x
Excess (Deficiency) of fixed charges over earnings		(85,199	)			21,976			38,046			40,992				(14,544	)			17,168			8,854