EX-12.1 28 d46094exv12w1.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   Three Months Ended
    2002(1)   2003(1)   2004(1)   2005(1)   2006(1)   2006(2)   March 31, 2007 (3)
Earnings:
                                                        
Pretax income from:
                                                        
Continuing operations before income taxes
   $ 18,963     $ 19,823     $ 24,662     $ 34,206     $ 31,933     $ (16,484 )   $ (5,457 )
Minority interest not incurring fixed charges
     (2,594 )     (2,278 )     (1,801 )     (1,809 )     (1,652 )     (1,652 )     (551 )
Fixed charges
     3,538       4,086       3,911       11,109       43,299       259,108       74,225  
 
                                                        
Amortization of capitalized interest
     —       —       —       —       6       32       16  
 
                                                        
Less: Capitalized interest
     —       —       —       —       (254 )     (1,286 )     —  
     
Total earnings
   $ 19,907     $ 21,631     $ 26,772     $ 43,506     $ 73,332     $ 239,718     $ 68,233  
     
 
                                                        
Fixed Charges:
                                                        
Interest expense
   $ 1,030     $ 774     $ 909     $ 5,390     $ 34,509     $ 225,562     $ 68,204  
Capitalized interest
     —       —       —       —       254       1,286       —  
Amortization of debt costs
     —       —       —       603       1,054       18,983       3,836  
Interest portion of rentals
     2,508       3,312       3,002       5,116       7,482       13,277       2,185  
     
Total fixed charges
   $ 3,538     $ 4,086     $ 3,911     $ 11,109     $ 43,299     $ 259,108     $ 74,225  
     
 
                                                        
Rentals
   $ 5,015     $ 6,624     $ 6,003     $ 10,232     $ 14,963     $ 26,553     $ 6,620  
     
Times rentals by 50%
     2,508       3,312       3,002       5,116       7,482       13,277       2,185  
     
 
                                                        
Ratio of Earnings to Fixed Charges
     5.63       5.29       6.85       3.92       1.69       —       —  
     
 
(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 $19.3 million .
 
(3)   Reflects calculation of ratio of earnings to fixed charges of Tropicana Entertainment. Includes Aztar’s results of operations from January 3, 2007, the date of its acquisition and earnings were inadequate to cover fixed charges by $6.0 million.