EX-12.1 144 d46094a1exv12w1.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
Calculation of Ratio of Earnings to Fixed Charges
(In Thousands)
                                                         
                                            Pro Forma     Six Months Ended  
    2002(1)     2003(1)     2004(1)     2005(1)     2006(1)     2006(2)     30-Jun-07  
 
Earnings:
                                                       
Pretax income from:
                                                       
Continuing operations before income taxes
  $ 18,963     $ 19,823     $ 24,662     $ 34,206     $ 31,933     $ (20,134 )   $ 10,150  
Minority interest not incurring fixed charges
    (2,594 )   $ (2,278 )   $ (1,801 )   $ (1,809 )   $ (1,652 )   $ (1,652 )   $ (2,317 )
Fixed charges
    3,538       4,086       3,911       11,109       43,299       262,758       121,194  
Amortization of capitalized interest
                            6       64       32  
Less: Capitalized interest
                            (254 )     (1,286 )      
 
 
                                                       
Total earnings
  $ 19,907     $ 21,631     $ 26,772     $ 43,506     $ 73,332     $ 239,750     $ 129,059  
 
 
                                                       
Fixed Charges:
                                                       
Interest expense
  $ 1,030     $ 774     $ 909     $ 5,390     $ 34,509     $ 227,174     $ 101,403  
Capitalized interest
                            254       1,286        
Amortization of debt costs
                      603       1,054       21,021       12,675  
Interest portion of rentals
    2,508       3,312       3,002       5,116       7,482       13,277       7,116  
 
Total fixed charges
  $ 3,538     $ 4,086     $ 3,911     $ 11,109     $ 43,299     $ 262,758     $ 121,194  
 
 
                                                       
Rentals
    5,015       6,624       6,003       10,232       14,963       26,553       14,232  
Times rentals by 50%
    2,508       3,312       3,002       5,116       7,482       13,277       7,116  
 
 
                                                       
Ratio of Earnings to Fixed Charges
    5.63       5.29       6.85       3.92       1.69             1.06  
 
 
(1)   Reflects calculation of ratio of earnings to fixed charges of Tropicana Casinos and Resorts.
 
(2)   Reflects calculation of ratio of earnings to fixed charges of Tropicana Entertainment on a pro forma basis to give effect to the Aztar Acquisition and the corporate reorganization that occurred immediately prior to the consummation of the Aztar Acquisition. For this period, earnings were inadequate to cover fixed charges by $23 million.