PRESS RELEASE

LAS VEGAS, NEVADA, February 10, 2014 -- American Casino & Entertainment Properties LLC (“ACEP”) today reported financial results for the fourth quarter ended December 31, 2013.

American Casino & Entertainment Properties LLC (the “Company”) is electing to provide selected preliminary unaudited financial data for the fiscal year ending December 31, 2013. The Company does not generally release preliminary unaudited results and does not expect to provide similar information in the future. The Company expects to provide this data to prospective lenders in connection with seeking proposed amendments to its existing senior secured credit facility, a process which the Company commenced on February 10, 2014. The proposed amendments seek, among other things, to reduce the interest rates applicable to borrowings under the first lien term loan portion of the existing senior secured credit facility. The selected preliminary unaudited financial data presented below (in millions) are subject to revision based upon the Company’s financial closing procedures and the completion of its audited financial statements. The Company’s actual results may be materially different from these results. Based on the information available to the management of the Company as of the date of this press release, Net revenue was $78.3 million for the fourth quarter of 2013 compared to $79.0 million for the fourth quarter of 2012, a decrease of 0.9%. ACEP reported a fourth quarter Net Loss of $2.8 million for 2013 compared to a Net Loss of $8.3 million for the fourth quarter of 2012. Adjusted EBITDA increased 9.2% to $11.9 million for the fourth quarter of 2013 compared to $10.9 million for the fourth quarter of 2012. Adjusted EBITDA Margin also increased to 15.2% compared to 13.8% in 2012.

The Stratosphere – Stratosphere’s Net revenue was unchanged in the fourth quarter as compared to the fourth quarter of 2012. In the fourth quarter, net revenue per occupied room increased approximately 5.8% including a 3.1% increase in casino revenue per occupied room. Hotel revenue increased 0.5% compared to the fourth quarter of 2012, however occupancy decreased by 9,332 rooms. Casino revenues declined due to lower slot coin-in and table games drop. Tower revenue decreased 2.3% due primarily to a 3.2% decrease in patrons. Stratosphere increased both Adj. EBITDA and Adj. EBITDA margin during the quarter due to the flat net revenue and expense management.

Arizona Charlie’s – The Arizona Charlie’s Net revenue increased 1.4% in the fourth quarter as compared to the fourth quarter of 2012. Casino revenues increased 0.6%. During the period, the properties increased slot head counts, coin in, and hold, however, increased promotional expenses kept slot revenue relatively flat. Table games revenue decreased due to lower holds and lower volumes and race and sports, bingo and keno revenues all increased. Hotel and food and beverage revenues increased at both Arizona Charlie’s properties. The increase in hotel revenue was due to increased occupancy at Arizona Charlie’s Boulder and higher average daily room rates at both properties. Food and beverage revenues increased due to increased covers. Adjusted EBITDA and Adjusted EBITDA margin remained relatively flat.

The Aquarius – The Aquarius’ Net revenue decreased 3.8% in the fourth quarter as compared to the fourth quarter of 2012. Occupancy was relatively flat at 39.8% compared to 39.4% in 2012. ADR decreased 1.9%. Casino revenue decreased 3.3% on a 0.3% percentage point decrease in slot hold percentage, a combination of lower volume and hold percentage in the tables, the elimination of Keno and a 118.6% increase in race and sports revenue. The decrease in slot hold percentage created a negative variance of approximately $700,000, a portion of which was offset by a 2.5% increase in coin-in. Adj. EBITDA decreased and Adj. EBITDA Margin increased.

2000 Las Vegas Boulevard South ∙ Las Vegas, Nevada 89104

Financial Statistics as of December 31, 2013:

For the year ended December 31, 2013, Net revenue was $337.4 million compared to $339.8 million in 2012, a decrease of 0.7%. ACEP reported a Net loss of $15.1 million for 2013 compared to a Net loss of $15.8 million in 2012. Adjusted EBITDA decreased 0.3% to $62.2 million compared to $62.4 million in 2012. Adjusted EBITDA Margin was flat at 18.4%.

For more information regarding American Casino & Entertainment Properties LLC, please visit our web site at www.acepllc.com.

Please see the comments at the end of this release for information about non-GAAP financial measures.

Numbers may vary due to rounding.

Numbers may vary due to rounding.

Following are selected statistics related to revenues that we use to make strategic decisions in the day-to-day evaluation of our business, which we believe will be useful to investors when evaluating the performance of our business:

Numbers may vary due to rounding.

“Unrestricted Cash” means, cash and cash equivalents in accordance with GAAP, excluding amounts required by ACEP and its Restricted Subsidiaries to be maintained to satisfy minimum bankroll requirements, mandatory game security reserves, allowances for redemption of casino chips and tokens or payment of winning wagers to gaming patrons.

“Consolidated Capital Expenditures” means, for any period, the aggregate of all expenditures on a consolidated basis that, in accordance with GAAP, are, or should be included in “purchase of property and equipment” or similar items and further defined in the first and second lien credit agreements.

“Consolidated Total Debt” means, as at any date of determination, the aggregate principal amount of all Indebtedness (or, if higher, the par value or stated face amount of all such Indebtedness (other than zero coupon Indebtedness)) as defined in the first and second lien credit agreements determined on a consolidated basis in accordance with GAAP; provided that Consolidated Total Debt shall not include Indebtedness in respect of Letters of Credit, except to the extent of the unreimbursed amount thereunder.

Non-GAAP Measures:

We have included certain “non-GAAP financial measures” in this earnings release. We believe that our presentation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin is an important supplemental measure of our operating performance to investors. Management uses these non-GAAP financial measures to evaluate our operating performance and make strategic decisions about our business on a day-to-day basis. EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are also a commonly used performance measure in our industry, hotel and gaming. We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin together with performance measures calculated in accordance with Generally Accepted Accounting Principles, GAAP, provide investors a more complete understanding of our operating results before the impact of investing transactions, financing transactions and income taxes, and facilitates more meaningful comparisons between the Company and its competitors. We calculate EBITDA as earnings before interest expense, depreciation and amortization, and income taxes. Adjusted EBITDA is EBITDA plus gains/losses on the disposal of assets, non-cash impairment charges, loss on debt redemption, pre-opening expenses, and management fees. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Net revenues.

Contact:

Investor Relations

Phyllis Gilland

(702) 380-7777