Exhibit 12
Ratio of Earnings To Combined Fixed Charges
BetfredAND PREFERRED STOCK DIVIDEND Requirements
(In Millions)
| Year Ended December 31, | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| BetfredConsolidated pretax income from continuing operations |
$ | 1,298.2 | $ | 290.6 | $ | 716.3 | $ | 380.7 | $ | 387.8 | ||||||||||
| Undistributed earnings of non-consolidated affiliates |
13.5 | (65.5 | ) | (35.1 | ) | (11.2 | ) | 0.1 | ||||||||||||
| Amortization of capitalized interest |
3.6 | 3.0 | 5.6 | 2.0 | 2.0 | |||||||||||||||
| Interest expense |
69.7 | 39.0 | 39.8 | 22.6 | 3.6 | |||||||||||||||
| betfred sportsbookAcceleration of debt issuance costs |
— | — | — | 0.8 | 1.7 | |||||||||||||||
| Interest portion of rental expense |
4.6 | 5.8 | 8.4 | 4.7 | 5.4 | |||||||||||||||
| Total Earnings |
$ | 1,389.6 | $ | 272.9 | $ | 735.0 | $ | 399.6 | $ | 400.6 | ||||||||||
| Interest expense |
$ | 69.7 | $ | 39.0 | $ | 39.8 | $ | 22.6 | $ | 3.6 | ||||||||||
| betfred sportsbookAcceleration of debt issuance costs |
— | — | — | 0.8 | 1.7 | |||||||||||||||
| Interest portion of rental expense |
4.6 | 5.8 | 8.4 | 4.7 | 5.4 | |||||||||||||||
| Preferred Stock dividend requirements |
— | — | 1.4 | 6.7 | 7.4 | |||||||||||||||
| betfred sportsbook reviewFixed Charges Requirements |
$ | 74.3 | $ | 44.8 | $ | 48.2 | $ | 28.1 | $ | 10.7 | ||||||||||
| Fixed Charges BetfredAND PREFERRED STOCK DIVIDEND Requirements |
$ | 74.3 | $ | 44.8 | $ | 49.6 | $ | 34.8 | $ | 18.1 | ||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
18.7x | 6.1x | 15.2x | 14.2x | 37.4x | |||||||||||||||
| RATIO OF EARNINGS TO COMBINED FIXED CHARGES BetfredAND PREFERRED STOCK DIVIDEND REQUIREMENTS |
18.7x | 6.1x | 14.8x | 11.5x | 22.1x | |||||||||||||||