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EXHIBIT 12.1


GB HOLDINGS, INC. AND SUBSIDIARIES


RATIO OF EARNINGS TO FIXED CHARGES


|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |        |        |  |   |        |       | 
|----------------------------------------- | ------------------------------------------------------ | ------------------------ | ------- | ----- | ---- | - | ------- | ------ |  | - | ------ | ------ |  | -------- | ------ | ------ |  | - | ------ | ----- | 
|                                          |                                                        | Years Ended December 31, |        
|                                          |                                                        |                          |        
|                                          |                                                        | 2004                     |         |       | 2003 |   |         | 2002   |  |   | 2001   |        |  | 2000 (1) |       
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|                                          |                                                        | (In thousands)           |        
|Income (loss) before income taxes         |                                                        | $                        | (11,836 | )     |      | $ | (16,755 | )      |  | $ | (6,537 | )      |  | $        | (1,779 | )      |  | $ | 19,034 |      
|Fixed charges as defined                  |                                                        |                          | 11,863  |       |      |   | 13,593  |        |  |   | 13,810 |        |  |          | 13,562 |        |  |   | 3,865  |      
|Amortization of capitalized interest      |                                                        |                          | 353     |       |      |   | 303     |        |  |   | 237    |        |  |          |       |        |  |   |       |      
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|Earnings (loss) as defined                |                                                        | $                        | 380     |       |      | $ | (2,859  | )      |  | $ | 7,510  |        |  | $        | 11,783 |        |  | $ | 22,899 |      
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|Fixed charges:                            |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |        |        |  |   |        |      
|                                          | Interest expense                                       |                          | $       | 9,903 |      |   | $       | 12,026 |  |   | $      | 11,640 |  |          | $      | 11,279 |  |   | $      | 3,499 | 
|                                          | Interest capitalized                                   |                          |         | 86    |      |   |         | 300    |  |   |        | 766    |  |          |        | 1,207  |  |   |        |      | 
|                                          | Amortized capitalized expenses related to indebtedness |                          |         | 1,212 |      |   |         | 555    |  |   |        | 555    |  |          |        | 174    |  |   |        | 10    | 
|                                          | Estimated interest within rental expense               |                          |         | 662   |      |   |         | 712    |  |   |        | 849    |  |          |        | 902    |  |   |        | 356   | 
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|Fixed charges as defined                  |                                                        | $                        | 11,863  |       |      | $ | 13,593  |        |  | $ | 13,810 |        |  | $        | 13,562 |        |  | $ | 3,865  |      
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|Ratio of earnings (loss) to fixed charges |                                                        |                          | 0.0     | x     |      |   | (0.2    | )x     |  |   | 0.5    | x      |  |          | 0.9    | x      |  |   | 5.9    | x    
|                                          |                                                        |                          |         |       |      |   |         |        |  |   |        |        |  |          |       
|Deficiency of less than one-to-one ratio  |                                                        | $                        | 11,483  |       |      | $ | 16,452  |        |  | $ | 6,300  |        |  | $        | 1,779  |        |  | $ |       |      






|    |                                                                                                                                         
|--- | ----------------------------------------------------------------------------------------------------------------------------------------
|(1) | Income before income taxes includes $14,795 of gain on
    pre-petition debt discharge and is presented for combined full
    year 2000.