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American Casino & Entertainment Results Up

LAS VEGAS – (PRESS RELEASE) -- American Casino & Entertainment Properties LLC ("ACEP") today reported the following second quarter financial results:

For the quarter ended June 30, 2005, consolidated gross revenues increased to $86.6 million from $78.9 million for the three months ended June 30, 2004.

This increase was primarily due to:

* increased casino revenues;

* increased hotel revenues as a result of an increase in occupancy and average daily room rate;

* and increased food and beverage revenues.

Net income for the quarter ended June 30, 2005 was $8.7 million, an increase from net income of $5.0 million for the quarter ended June 30, 2004. Net income for the quarter ended June 30, 2005 reflected the effects of increased net revenues, partially offset by an increase in selling, hotel and food and beverage expenses, as well as an increase in the provision for income taxes.

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

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