Mohegan Ventures Wisconsin S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

	For the Fiscal Years Ended September 30,
	2013			2012			2011		2010			2009
(in thousands, except ratios)
Net income	$	47,542		$	61,241		$	111,843	$	7,454		$	117,352
Fixed charges		178,196			155,595			130,402		133,737			132,691
Amortization of capitalized interest		2,204			2,221			2,229		2,231			2,214
Capitalized interest		(1,976	)		(34	)		—		(66	)		(1,062	)
Loss attributable to non-controlling interests		2,784			2,019			2,134		2,258			1,992
Earnings	$	228,750		$	221,042		$	246,608	$	145,614			253,187
Interest expense, net of capitalized interest and amortization of debt issuance costs and accretion of bond discounts	$	157,865		$	136,070		$	109,899	$	109,032		$	101,407
Capitalized interest		1,976			34			—		66			1,062
Amortization of debt issuance costs and accretion of bond discounts		12,285			9,987			7,811		7,752			8,282
Interest portion of rental expense (1)		1,096			1,256			1,326		1,461			1,515
Accretion of discount to the relinquishment liability		4,974			8,248			11,366		15,426			20,425
Fixed charges	$	178,196		$	155,595		$	130,402	$	133,737		$	132,691
Ratio of earnings to fixed charges (2)		1.28			1.42			1.89		1.09			1.91

(1) A 10% factor was utilized to calculate the interest portion of rental expense, which the Authority believes to be a reasonable approximation.

(2) Pursuant to Item 503 of Regulation S-K.