EXHIBIT 12.1

Boyd Gaming Corporation

Computation of Ratio of Earnings to Fixed Charges

($ in thousands, except for ratios)

(unaudited)

	Three Months Ended March 31,						Year Ended December 31,
	2004			2003			2003			2002			2001			2000			1999
Earnings Calculation:
Income before provision for income taxes and cumulative effect of a change in accounting principle and before operating and non-operating results from Borgata	$	24,775		$	30,528		$	76,011		$	85,460		$	42,852		$	103,601		$	68,894
Add:
Interest expense		17,842			18,612			74,549			72,904			75,374			79,303			69,230
Interest component of rent expense		684			694			2,842			2,670			2,262			1,767			1,470
Amortization of capitalized interest		234			—			468			—			—			—			—
Earnings available for fixed charges	$	43,535		$	49,834		$	153,870		$	161,034		$	120,488		$	184,671		$	139,594
Fixed charges:
Interest expense	$	17,842		$	18,612		$	74,549		$	72,904		$	75,374		$	79,303		$	69,230
Capitalized interest		414			4,419			9,168			17,673			18,009			6,253			1,786
Interest component of rent expense		684			694			2,842			2,670			2,262			1,767			1,470
Total fixed charges	$	18,940		$	23,725		$	86,559		$	93,247		$	95,645		$	87,323		$	72,486
Ratio of earnings to fixed charges		2.3	x		2.1	x		1.8	x		1.7	x		1.3	x		2.1	x		1.9	x