American Casino & Entertainment Properties LLC Reports First Quarter Results

American Casino & Entertainment Properties LLC Reports First
Quarter Results 


LAS VEGAS, May 9  /PRNewswire-FirstCall/ -- American Casino & Entertainment
Properties LLC ("ACEP") today reported the following first quarter financial
results:

For the quarter ended March 31, 2005, consolidated gross revenues increased to
$88.8 million from $81.2 million for the three months ended March 31, 2004. 
This increase was primarily due to:

   * increased casino revenues;
   * increased hotel revenues as a result of an increase in average daily
     room rate; and
   * increased food and beverage revenues.



Net income for the quarter ended March 31, 2005 was $10.1 million, an increase
from net income of $6.2 million for the quarter ended March 31, 2004. Net
income for the quarter ended March 31, 2005 reflected the effects of increased
net revenues, partially offset by an increase in selling, general and
administrative expenses, as well as an increase in the provision for income
taxes.

The following table presents a reconciliation of net income to EBITDA for
ACEP's actual first quarter 2005 and 2004 results:

                  Reconciliation of Net Income to EBITDA
                              (in millions)

                                             For the Quarter Ended March 31
                                                2005               2004
                                               Actual             Actual

  Net income                                    $10.1              $6.2

  Interest expense                                4.5               4.4
  Interest income                                (0.1)             (0.3)
  Provision for income taxes                      5.3               4.6
  Depreciation and amortization expense           5.4               5.9
  EBITDA                                        $25.2             $20.8



ACEP owns three Las Vegas casinos, Stratosphere Casino Hotel & Tower, Arizona
Charlie's Decatur and Arizona Charlie's Boulder.

This release contains certain "forward-looking statements" many of which are
beyond our ability to control or predict. Forward-looking statements may be
identified by words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "will" or words of similar meaning and
include, but are not limited to, statements about the expected future business
and financial performance of ACEP. Among these risks and uncertainties are
changes in general economic conditions, the extent, duration and strength of
any economic recovery, risks related to our hotel and casino operations,
including the effect of regulation, substantial competition, rising operating
costs and economic downturns, and other risks and uncertainties detailed from
time to time in our filings with the SEC. We undertake no obligation to
publicly update or review any forward-looking information, whether as a result
of new information, future developments or otherwise. 

DATASOURCE: American Casino & Entertainment Properties LLC



CONTACT:  Denise Barton, Chief Financial Officer of American Casino &

Entertainment Properties LLC, [phone]

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