EXHIBIT 12.2 HOLLYWOOD PARK, INC. CALCULATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT THE RATIO) NINE MONTHS YEAR ENDED ENDED DECEMBER 31, SEPTEMBER 30, 1996 1997 ------------ ------------- Earnings: Pre tax income (loss)............................ $(33,402) $13,547 Fixed charges.................................... 20,520 12,037 Less capitalized interest........................ (1,446) (15) -------- ------- Total Earnings................................. $(14,328) $25,569 ======== ======= Fixed charges: Capitalized interest............................. $ 1,446 $ 15 Interest expense................................. 15,468 11,051 Amortization of debt issuance costs.............. 444 293 Portion of rent expense representative of the interest factor................................. 3,162 678 -------- ------- Total fixed charges............................ $ 20,520 $12,037 ======== ======= Ratio of earnings to fixed charges............... -- (2) 2.12x ======== ======= - -------- (1) In computing the ratio of earnings to fixed charges: (a) earnings have been based on income from continuing operations before income taxes and fixed charges (exclusive of interest capitalized) and (b) fixed charges consist of interest and amortization of debt discount and expense (including amounts capitalized) and the estimated interest portion of rents. (2) The Company's earnings were not sufficient to cover its fixed charge requirements by $34.8 million for the year ended December 31, 1996.