<Page>
                                                                    EXHIBIT 12.1

                             MTR GAMING GROUP, INC.
               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
                             (DOLLARS IN THOUSANDS)

<Table>
<Caption>
                                                                                                                PRO FORMA
                                                                                                         ------------------------
                                                                                                                        ADJUSTED
                                                                                               THREE       ADJUSTED       THREE
                                                                                              MONTHS         YEAR        MONTHS
                                                    YEAR ENDED DECEMBER 31,                    ENDED        ENDED         ENDED
                                      ----------------------------------------------------   MARCH 31,   DECEMBER 31,   MARCH 31,
                                        1998       1999       2000       2001       2002       2003          2002         2003
                                      --------   --------   --------   --------   --------   ---------   ------------   ---------
                                                                                                
EARNINGS
Net income before income taxes,
  discontinued operations,
  extraordinary items and cumulative
  effect of change in accounting
  method............................  $ 7,764    $10,942    $23,023    $23,928    $27,624     $ 5,226       $22,605      $ 3,954
Plus fixed charges..................    5,040      5,391      4,715      5,802      5,763       1,713        11,712        2,985
Minus capitalized interest..........     (132)      (444)    (1,308)      (988)      (465)          0          (930)           0
                                      -------    -------    -------    -------    -------     -------       -------      -------
TOTAL EARNINGS......................  $12,672    $15,889    $26,430    $28,742    $32,922     $ 6,939       $33,387      $ 6,939
                                      =======    =======    =======    =======    =======     =======       =======      =======
FIXED CHARGES
Interest expense....................  $ 4,259    $ 4,270    $ 3,057    $ 4,043    $ 4,376     $ 1,471       $ 9,502      $ 2,675
Plus:
  -capitalized interest.............      132        444      1,308        988        465           0           930            0
  -amortization of original issue
    discount and deferred financing
    costs...........................      508        462        215        631        802         225          1160          293
  -interest portion of rental
    expense.........................      141        215        135        140        120          17           120           17
                                      -------    -------    -------    -------    -------     -------       -------      -------
TOTAL FIXED CHARGES.................  $ 5,040    $ 5,391    $ 4,715    $ 5,802    $ 5,763     $ 1,713       $11,712      $ 2,985
                                      =======    =======    =======    =======    =======     =======       =======      =======
RATIO OF EARNINGS TO FIXED
  CHARGES...........................      2.5x       2.9x       5.6x       5.0x       5.7x        4.1x          2.9x         2.3x
</Table>

The pro forma ratio of earnings to fixed charges gives effect to the pro rata
increase in interest expense and deferred financing costs resulting from the
issuance of the $130 million Senior Notes and the use of $93.4 million of the
proceeds to repay the amounts outstanding under the Second Amended and Restated
Credit Facility.