EX-12.1 3 eri-ex121_508.htm EX-12.1 eri-ex121_508.htm

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

ELDORADO RESORTS, INC.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

Year ended December 31,

 

(dollars in thousands)

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax (loss) income before (loss) income from

   unconsolidated affiliates and noncontrolling

   interests

 

$

(42,963

)

 

$

38,046

 

 

$

41,143

 

 

$

(15,156

)

 

$

15,542

 

Add: Fixed charges (from below)

 

 

100,262

 

 

 

50,941

 

 

 

61,876

 

 

 

30,752

 

 

 

15,681

 

Add: Distributions from unconsolidated affiliates

 

 

-

 

 

 

-

 

 

 

-

 

 

 

509

 

 

 

1,626

 

Less: Capitalized interest

 

 

-

 

 

 

-

 

 

 

(151

)

 

 

-

 

 

 

-

 

Less: Net loss - noncontrolling interest

 

 

-

 

 

 

-

 

 

 

-

 

 

 

103

 

 

 

-

 

Total earnings available for fixed charges

 

$

57,299

 

 

$

88,987

 

 

$

102,868

 

 

$

16,208

 

 

$

32,849

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

100,262

 

 

 

50,941

 

 

 

61,725

 

 

 

30,752

 

 

 

15,681

 

Capitalized interest

 

 

-

 

 

 

-

 

 

 

151

 

 

 

-

 

 

 

-

 

Total fixed charges

 

$

100,262

 

 

$

50,941

 

 

$

61,876

 

 

$

30,752

 

 

$

15,681

 

Ratio of earnings to fixed charges

 

 

-

 

(a)

 

1.7

x

 

 

1.7

x

 

 

-

 

(a)

 

2.1

x

(Deficiency) excess of fixed charges over

   earnings

 

$

(42,963

)

 

$

38,046

 

 

$

40,992

 

 

$

(14,544

)

 

$

17,168

 

(a) Due to our pre-tax loss in 2017 and 2014, the

   ratio coverage for both years was less than 1:1.