IPIP Blog

Matt Lauer will remain on Today, reports Entertainment Weekly. Lauer announced the news on Fridays show. According to TMZ, Lauer nearly doubled his current $17 million a year salary with his new long-term contract.But Lauers good news may be bad news for Ann Curry . Sources claim that Lauer does not want her as his co-host. If Curry was to be replaced, says an NBC snitch, her likely replacement would be Savannah Guthrie .

Olbermann sues Current TV

Keith Olbermann is suing his former employer Current TV for more than $50 million, reports the Associated Press. His breach-of-contract lawsuit was filed in Los Angeles on Thursday. The lawsuit also seeks a judges ruling that he didnt badmouth the network before he got canned last month and that his former bosses violated his agreement by revealing how much he was paid. Current TV filed a countersuit Friday in Los Angeles, claiming the former Countdown host was fired partly because he rarely showed up to work, reports TMZ. Olbermann headed to Current TV in June after eight years at MSNBC.

Reinhart: Season 11 Idol will be a girl

Husky-voiced Haley Reinhart fell just short of snapping the guys stronghold on American Idol crowns last year. She has a feeling one of the Season 11 contestants will end the drought, though. Ooh, I love Jessica Sanchez , Reinhart, who finished third in Season 10, told Grapevine this week, after singing the national anthem at Opening Day at Comerica Park. Shes a 16-year-old powerhouse!

A girl hasnt won Idol since Season 6, when Jordin Sparks took the title. Since, it has been David Cook , Kris Allen , Lee DeWyze and Scotty McCreery who have captured the hearts of the audience, which largely consists of teenage girls.

Also hellip;

Actress Amanda Bynes was arrested on suspicion of driving under the influence in Los Angeles on Friday, reports RadarOnline.com. Bynes sideswiped a police car she was trying to pass, authorities said. The actress was later released from jail.

Pearl Jam front man Eddie Vedder announced his 15-city spring solo tour will now kick off on Oct. 31, reports Rolling Stone. Vedder has temporary nerve damage in his right arm because of a recent back injury.

uwatson@detnews.com

(313) 222-2613

Tony Paul contributed.

Following the unusual press release last July where Ape Entertainment announced they were in negotiations with Sesame Workshop to produce a series of comic books featuring the characters from Sesame Street, Ape Entertainment confirmed this week that they have indeed completed those negotiations and will publish Sesame Street comics this fall.

We are excited about our new relationship with Sesame Workshop to bring the Sesame Street characters to comics, which is a dream come true for all of us here at Ape,” said Ape Entertainment COO Brent E. Erwin in a press release. “Elmo, Big Bird, Cookie Monster, Grover, and the whole Sesame Street gang have always been a part of our lives, now we feel like a part of their family, and that’s a great feeling.

According to the release, the comics will emphasize educational and entertaining content for younger readers, in standard comic-sized printed editions for $3.99 and digest-sized hardcover comic book editions for $7.99. Ape CEO David Hedgecock told USA Today that the hardcover versions will contain additional content and are aimed at the younger crowd. Itll be in a sturdier format so when you pick it up and you want to read it to your three-year-old, theyre going to finger it and play with it and its not going to fall apart in your hands, he said. They will also be available digitally through Apple’s App Store for iPad, iPhone and iPod touch.

Ape has built up a solid library of kids titles over the past few years, licensing kid-friendly properties like Richie Rich, Strawberry Shortcake, Casper and Kung Fu Panda, as well as popular mobile games like Cut the Rope and the mega-popular Pocket God. Adding Grover, Big Bird and the rest to their line-up seems like an A-OK move.

Chatting with the famed documentarian about his new film, Comic-Con Episode IV: A Fans Hope

Wrekin Hill Entertainment

Comic-Con and Morgan Spurlock belong together. The Comic-Con phenomenon, with the annual July event in San Diego as its centerpiece, is arguably the premiere pop-cultural force in America today, bestowed with an unparalleled ability to shape a range of media, from Hollywood movies to video games and television. Spurlock, meanwhile, has perfected a form of populist documentary infotainment, most notably in Super Size Me, in which he famously ate nothing but McDonalds for a month.

But Comic Con: Episode IV: A Fans Hope isnt the sort of fast-paced, graphics-heavy, performance-piece doc one expects from Spurlock. The filmmaker stays off-screen here, stepping back to focus on four individuals and one couple attending the 2010 San Diego Con, all of whom are hoping to achieve various significant goals. Theres a veteran seller hawking a valuable comic, two illustrators armed with portfolios, a costume designer hoping to garner industry attention when her work is displayed during the Comic-Con Masquerade, and a boyfriend planning to propose during a Kevin Smith panel.

With the movie opening in limited release and premiering on demand this week, Spurlock shares his thoughts on the genesis of the film, the challenges he faced in getting it made, and the joys of proudly being a nerd in later adulthood.

What told you that the time was right for a Comic-Con documentary?

It was 2009 when I was at Comic-Con doing The Simpsons [20th anniversary] special for Fox. I was there and I was like, Wow, this is a movie. This is just getting bigger. The popularity is just growing. Its something thats affected so many different pieces now. Its not just comics. Its not just movies. Its video games, its television, its toys, its painters [and] its artists. I was like, Theres a bigger thing that is still growing around this.

I didnt know that Comic-Con as a geek job fair existed. … People were going there with their portfolios to get jobs.

Are there any downsides to Comic-Cons extraordinary influence?

Personally, being somebody who was a geek and a nerd throughout my childhood and into my adulthood, and still into my later adulthood, I find it to be a really positive thing. People love to say that movies have ruined Comic-Con. When I look at that, Im like, No, movies have ruined the press coverage of Comic-Con, because thats all that the press likes to talk about. You go to Comic-Con and movies arent dominating Comic-Con. Youll have movies in Hall H, and 6,000 people are in Hall H, and therere 144,000 people that are anywhere else but Hall H. I think there is a much larger cultural phenomenon beyond this Hollywood takeover.

What do you see as Comic-Cons primary achievement?

Its just continued to popularize a lot of these things that many of us knew were cool for years. We grew up knowing comics were cool. We grew up knowing video games were cool. And theyve only gotten cooler. Theyve only gotten deeper. Theyre like little movies themselves now. What its done is its helped these things become part of the mainstream.

Whats something new that you learned about the event?

When I first started exploring what Comic-Con was and we started thinking about making this movie, I didnt know that Comic-Con as a geek job fair existed. The fact that people were going there with their portfolios to get jobs, the fact that people were competing in the Masquerade in the hopes of breaking in to the costume business in Hollywood, these are things that I didnt really know.

How did not being in front of the camera change the filmmaking process for you?

It changed the fundraising process. When we started meeting with investors and started pitching the film to investors, they were like, Oh great, we really like it. Youre going to be in the film, right? I said, No, Im not going to be in one frame. They were like, Well, Ill tell you what. Well finance the film, so long as youre in it. And Im like, Well find the money somewhere else. We met with probably four or five investors [who] said that to us that they would invest in the movie if I would suddenly be in the film, which I walked away from every time.

Why was it so important for you to stay off-screen?

From phones to cameras to TVs game consoles, if youve played with a Sony device over the past 5 years, then youll be quite familiar with the companys Xross Media Bar (XMB), which also forms the backbone of of its 2012 TV interface. This year Sony is also pushing its Entertainment Network even harder, which for some reason meant adding a new, completely different-looking interface on top of the old one and keeping both.

Content
Sonys 2012 app selection, as seen on the HX750 series I recently tested, is basically the same as last year (Sony recently added Amazon Instant Video to its PS3 console but the service already existed on Bravia TVs). High-profile apps include Netflix, Hulu Plus, Cinema Now for video, Pandora and Slacker for audio, and Skype (optional camera/speakerphone required), Facebook and Twitter for networking. The Sony remotes also carry a dedicated Netflix button for easy access to the video service.

The only major missing video services are Vudu and MLB TV, while subscription music services are conspicuously absent, probably so they dont compete with Music Unlimited.

more

3 days ago 

VIENNA, Va. (AP) — Nicole and Alana Feld come from a long line of circus folk, so they are well aware of the challenge of bringing a century-and-a-half old attraction to families with many entertainment choices.

Like tightrope walkers, the Feld sisters seek to maintain a balance between innovation and tradition in producing the Ringling Bros. and Barnum and Bailey Circus.

After Ringling phased out the traditional three-ring format a few years ago so audiences could focus on one act at a time, there was some initial naysaying but the change came to be regarded as a success. But when they eliminated lions and tigers that same year in response to survey results showing that elephants were the top animal draw, fans weren’t happy — and Ringling quickly brought back the big cats.

“People expect to see animals, and they expect to see clowns,” Nicole Feld said. “We want to deliver on those expectations.”

The circus is the flagship product for Vienna, Va.-based Feld Entertainment, a privately held family company that bought the circus in 1967. It’s unclear how profitable the show is. But the sisters said business remains steady, with the circus drawing more than 10 million people a year to its shows across the country.

Still, the company remains under siege from animal-rights activists who accuse it of treating elephants and other animals cruelly. Last year, the U.S. Department of Agriculture imposed a $270,000 fine against Ringling — the largest ever assessed by the federal government against an animal exhibitor under the Animal Welfare Act — for a variety of violations.

The issue is a sore point for Ringling, which agreed to pay the fine but admitted no wrongdoing. A company spokesman says the violations are a byproduct of heavy regulation — in one four-month period, one of the circus’ traveling units was inspected 82 times by 18 different agencies.

By most measures, the circus has come a long way since P.T. Barnum assembled a traveling troupe of freaks, contortionists and Jumbo the Elephant into The Greatest Show on Earth.

In other ways, the circus maintains the traditions that have been there for nearly 150 years: exotic animals, acrobatics and an unwavering commitment to showmanship and pleasing audiences.

The balancing act requires the Felds to keep the show contemporary in the face of increased competition for the entertainment dollar and evolving public tastes. At the same time, much of the circus’ appeal comes from its tradition, and the circus ignores those traditions at its peril.

It was Nicole and Alana’s grandfather, Irvin Feld — who sold snake oil at carnivals as a child during the Depression and established himself as one of the country’s top rock-and-roll concert promoters in the 1950s — who acquired the circus in 1967.

Before buying it outright, though, the elder Feld made one of the biggest changes to revive the circus, which had folded in 1956. He did away with the Big Top — the fabled circus tent — and moved the show to the indoor arenas that he used to book his rock and roll shows.

The change enabled the circus to survive, continuing the traditions that dated back to “P.T. Barnum’s Grand Traveling Museum, Menagerie, Caravan and Circus” in 1870. Feld himself died in 1984.

In modern times, the company has endured its share of difficulties. It owned the Siegfried and Roy show in Las Vegas, which closed in 2003 when Roy Horn was mauled by one of his tigers. The family endured an embarrassing lawsuit from Karen Feld, sister of Feld CEO Kenneth Feld, who claimed her brother’s bodyguards roughed her up at a family memorial service. Jurors dismissed the lawsuit.

And then there are the ongoing complaints from animal rights activists, which at least one performer takes issue with.

Alexander Lacey, who performs with lions and tigers on Ringling’s “Dragons” show, said his rapport with his animals is built on mutual respect and rewarding animals for correct behavior. He says circus life for big cats is a better fate than critics suppose.

“Look at the wild. That’s not necessarily a good place to be,” he said before a recent show in Richmond, Va. He cited the threats from disease and human encroachment on their habitat that threaten lions and tigers in the wild.

The circus’ big cats “have an opportunity to eat, sleep and reproduce in an environment that is stimulating for them,” said Lacey, one of a number of Ringling performers who come from multi-generational circus backgrounds. The key, he said, is to make sure that the lions and tigers’ days are interesting for the time they are awake — they typically sleep 18 to 20 hours a day. With many days containing multiple performances, the big cats have active days.

The performers say that at its core, the circus isn’t much different than it was decades ago. What’s changed, they say, is the presentation. Bulky costumes have gone by the wayside. Music tends to be more contemporary. And technological improvements in lighting and staging help speed the pace of the show. Acts featuring children used to be common, but now are rare.

“It’s more theatrical now,” said George Caceres, leader of The Flying Caceres trapeze troupe. Caceres is a third-generation performer; his mother continues to work on the Ringling show as a costume designer.

The circus has always had to balance innovation and tradition, says David Carlyon, an author and academic from Larchmont, N.Y., who has studied 19th-century circuses and was himself a Ringling clown in the late 70s.

A century ago, Carlyon said, the appeal of the circus was almost self-evident. No other entertainment of its kind was available. Performers demonstrated mastery and partnership with animals to a population that was used to working with horses and other farm animals. And there was a sex appeal as well — in a Victorian era, it was rare to see the human body so clearly on display.

As entertainment options have exploded in the modern era, the circus has worked to keep pace. Carlyon recalled a somewhat feeble effort by Ringling in the 1980s to incorporate a Menudo-style boy band into its act.

Despite the occasional missteps, Carlyon said, “the Felds, as near as I can tell, are doing a good job.”

Some of the biggest changes at Feld Entertainment have been outside the circus world altogether. While the circus remains Feld’s flagship operation, in 2008 and 2009, Feld acquired a variety of motor sports properties, including monster truck shows, motocross and the International Hot Rod Association. In 2010, it created a theatrical motorcycle stunt show called Nuclear Cowboyz.

Combined with long-running brands such as Disney on Ice, Feld’s shows draw annual attendance of more than 30 million, meaning that the circus accounts for roughly a third of the company’s business.

The motorsports allow Feld to target young men and teens, a slightly different audience than the family with children ages 2 to 11 who make up the primary target audience for Ringling.

Still, the Feld family is at heart a circus family. Nicole and Alana, as children, performed as clowns.

“It’s an old circus saying — ‘You have sawdust in your veins,’” said Nicole, who joined the company in 2001 after spending a few years out of college in other jobs. “It wasn’t until I wasn’t able to be around it that I realized just how much I missed it.”

On the Net:

The Bollywood superstar Shah Rukh Khan will deliver a lecture at Yale University on Thursday as a Chubb Fellow, one of the Ivy League institutions highest honours, the university said in a statement.

The Chubb Fellowship is an honour Yale has previously awarded to heads of states and Nobel Prize winners.

Khan has been among his generations most important examples of the power of art to promote higher human ideals and aspirations, read the statement.

Lagercopters: Lagerfeld designs helicopters

Hes tried his hand at editing newspapers, blowing glass and, somewhere along the way, designing clothes, but Karl Lagerfeld is now extending his visual sense to helicopters, it was announced on Friday. Chanels creative director will team up with the Italian company AgustaWestland to work on the fit-out for AW139 twin-turbine helicopters, capable of seating 15 passengers, in a limited line of crafts catering to the ultra-VIP market.

Backlash at Kanye Wests new song

Kanye Wests serenade song for his alleged new girlfriend Kim Kardashian, Theraflu, released on Wednesday, has received a backlash from the titular medicine brand. We in no way endorse or approve of the reference or use of the image and likeness of Theraflu in this manner, a Theraflu company representative told TMZ. In the track, Kanye compares his coldness toward his enemies with a rather nasty flu, encouraging them to take the medicine as a remedy. Less vocal has been the animal rights group Peta, which responded to lyrics in the song about dragging a mink on the floor with: Whats dragging on the floor is Kanyes reputation.

Quebec band adapts Game of Thrones

A French-Canadian Celtic punk band, Irish Moutarde, have adapted words from George RR Martins fantasy novels A Song of Ice and Fire for their new single The Bear and the Maiden Fair.

Its a song often referred to in the books, and we should hear HBOs version soon in Game of Thrones, said the bands vocalist Mathieu Audet. Listen to the song at www.irishmoutarde.com.

Heidi Klum serves divorce papers to Seal

The German supermodel Heidi Klum filed for divorce on Friday from her British singer husband Seal, two and a half months after the pair announced their separation, a spokeswoman for both Klum and Seal confirmed to AFP.

Klum cited irreconcilable differences in her divorce petition filed in Los Angeles County Superior Court, which shows that the pair signed a postnuptial agreement, according to the TMZ celebrity news website.

In divorce papers published by TMZ, Klum asks for joint legal custody of their four children – two boys and two girls, ages seven, six, five and two – but she wants primary physical custody, with Seal getting visitation rights.

Kidman to play Grace Kelly

Nicole Kidman is in negotiations to portray the Hollywood icon Grace Kelly in Grace of Monaco, an indie project centring on the actress-turned-princess, sources told The Hollywood Reporter.

Olivier Dahan, who directed Marion Cotillard in her Oscar-winning role of Edith Piaf in La Vie en Rose, is helming the period movie. Kidman is in the process of attaching herself to what is being envisioned as a US$30m (Dh110m) production and is being compared in tone to The Kings Speech.

Monaco is the second high-profile project in the works featuring mid-century Hollywood stars. Fox Searchlight is weeks away from Alfred Hitchcock and the Making of Psycho; the movie sees Anthony Hopkins playing the filmmaker.

Airline employee resigns amid celeb tip-off claims

A Virgin Atlantic employee has resigned following allegations she routinely fed information about the airlines celebrity clientele – from Madonna to Sienna Miller – to a paparazzi agency.

The employee was a junior member of the team that looks after high-profile clients, Virgin said on Friday. She resigned on Thursday before reports published in The Guardian and the Press Gazette alleged that she had passed the booking information of more than 60 celebrities on to the Big Pictures photo agency.

Among those allegedly targeted are Princess Beatrice; the singers Madonna and Rihanna; the actors Charlize Theron, Kate Winslet, Daniel Radcliffe and Miller; the comedians Sacha Baron Cohen and Russell Brand; and a slew of UK celebrities and sports figures.

In a statement, Virgin Atlantic Airways Ltd called the allegations extremely serious and said it had launched an investigation.

KANSAS CITY, Mo., Apr 06, 2012 (BUSINESS WIRE) –
AMC Entertainment Inc. (“AMC”) announced today the completion of its
redemption of $51,035,000 aggregate principal amount, or approximately
26.7%, of its outstanding $191,035,000 aggregate principal amount of 8%
Senior Subordinated Notes due 2014 (the “Notes”). The redemption price
was 100.00% of the principal amount, plus accrued but unpaid interest.
After the redemption, $140,000,000 aggregate principal amount of the
Notes remains outstanding.

Forward-Looking Statements

In addition to historical information, the disclosure relating to the
redemption and the Notes contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, or the
“Securities Act,” and Section 21E of the Securities Exchange Act of
1934, as amended, or the “Exchange Act.” The words “forecast,”
“estimate,” “project,” “intend,” “expect,” “should,” “believe” and
similar expressions are intended to identify forward-looking statements.
These forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors which may cause our actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include, but
are not limited to, the following: national, regional and local economic
conditions that may affect the markets in which we or our joint venture
investees operate; the levels of expenditures on entertainment in
general and movie theatres in particular; increased competition within
movie exhibition or other competitive entertainment mediums;
technological changes and innovations, including alternative methods for
delivering movies to consumers; the popularity of major film releases;
shifts in population and other demographics; our ability to renew
expiring contracts at favorable rates, or to replace them with new
contracts that are comparably favorable to us; our need for, and ability
to obtain, additional funding for acquisitions and operations; risks and
uncertainties relating to our significant indebtedness; fluctuations in
operating costs; capital expenditure requirements; changes in interest
rates; and changes in accounting principles, policies or guidelines.
This list of factors that may affect future performance and the accuracy
of forward-looking statements is illustrative but not exhaustive. In
addition, new risks and uncertainties may arise from time to time.
Accordingly, all forward-looking statements should be evaluated with an
understanding of their inherent uncertainty. Readers are urged to
consider these factors carefully in evaluating the forward-looking
statements. For further information about these and other risks and
uncertainties, see Item 1A. “Risk Factors” in our Annual Report on Form
10-K for the fiscal year ended March 31, 2011 and the information
contained in the documents relating to the Tender Offer. All subsequent
written and oral forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their entirety
by these cautionary statements. The forward-looking statements included
herein are made only as of the date of the Tender Offer, and we do not
undertake any obligation to release publicly any revisions to such
forward-looking statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events.

About AMC Entertainment Inc.

AMC Entertainment Inc. delivers distinctive and affordable movie-going
experiences in 347 theatres with 5,048 screens primarily in the United
States and Canada. The company operates 24 of the 50 highest grossing
theatres in the country, including the top three. AMC has propelled
industry innovation and continues today by delivering premium sight and
sound, enhanced food and beverage and diverse content. AMCTheatres.com.

SOURCE: AMC Entertainment

AMC Entertainment
Ryan Noonan, 816-480-4724
rnoonan@amctheatres.com

Copyright Business Wire 2012

Disney is a small cruise line. Disney entertainment is big. Combine those two extremes, and suddenly a four-ship cruise line appears bigger than it is, creating the appearance Disney is everywhere when you shop for cruises around North America.

Disney Entertainment runs through every phase of the 91-year-old company, founded by two brothers as a cartoon studio. Today it is theme parks, resorts and a cruise line. Even Karl Holz, President of Disney Cruises, calls his ships one big stage.

Two new ships – the Dream last year and the Fantasy last month – combine to give Disney imagineers their biggest floating stage to date. In a way, theyre a throwback. Seeing these ships, with their elongated bows and fake stack, conjures up the steamship liners from the 1920s and 30s.

The atrium and grand stair-case are huge. That grand-ship feel continues and, yes, you are still greeted by the staffers, calling out your family name to the cheers of thousands. Okay, dozens.

Many popular features from the Disney Dream have been included in the Fantasy, such as the AquaDuck water coaster that floats around the top deck. Yet there is much thats new on the entertainment and technology side. Disney updated the childrens area with more interactivity and more space. The outer deck received a face-lift – AquaLab for the kids and Satellite Falls for the adults – although I have yet to under-stand the full value of this.

But the you-have-to-be-kid-ding moment comes in the restaurant, Animators Palate. I discovered in an interview with Bruce Vaughn, chief creative executive for imagineer-ing, that what I was about to see has been under wraps for a year. You know, top security, waiting to be installed on the Fantasy.

Heres the scoop: Kids and adults at dinner are encouraged to take crayons and paper to draw cartoons, anything from stick drawings to some-thing elaborate. Their works are mixed with Disney animation and song and each kids (or adults) drawing comes to life, with some of Disneys biggest characters singing and dancing. No, I dont know how they do it, and nobody at Disney is telling.

The Fantasys shows include Wishes (aimed at teens and families) and a theatre production of Aladdin. All of these – in fact, all entertainment at Disney – gets its start in the CBC building in Toronto. Entertainers from around the world have their own studio, where the shows are rehearsed for weeks, prepping for the next stage of rehearsing in the parks and on the ships. With singers such as Jennifer Hudson and Broad-way dancers getting their start on ships, it has become a go-to place for young entertainers to gain experience.

And Disney is always for the young, or young at heart. The Muppets are featured in a game show that sends you searching the ship for clues. The kids can look like their favourite princess at Bibbidi Bobbidi Boutique, a transplant from the parks – $50 for hair and makeup, and much more for clothes.

Headlining late-night entertainment on the Fantasy are bars with varying themes, all under the umbrella of Europa, and including an Irish pub that doubles as a sports bar.

You will find much the same on Dream, but featuring major cities.

Cruising with Disney can be costly, and many other cruise lines cater to and entertain children. Youre paying for the Disney experience, so you have to decide if cruising with part of the famous theme park on your ship is worth the expense. You have to decide if you want to, as they say at Disney, have a magical day.

The Fantasy is sailing seven-day alternating Western and Eastern Caribbean cruises. For more about the ship, check my portsandbows.com blogs that started on March 27.

Visit portsandbows.com for daily updates on the latest cruise news, best deals and behind-the-scenes stories from the industry. You can also sign up for an email newsletter on the site for even more cruise information. Phil can be contacted directly at portsandbows@gmail.com.

HONG KONG, Mar 14, 2012 (BUSINESS WIRE) –
Asia Entertainment & Resources Ltd. (“AERL” or the “Company”)

/quotes/zigman/117046/quotes/nls/aerl AERL
-1.15%

, which operates through its subsidiaries and related promoter
companies as VIP room gaming promoters, today announced unaudited
financial results for the three months and year ended December 31, 2011.
All currency amounts are stated in United States dollars. Please refer
to Form 20-F to be filed with the SEC for the full audited financial
statements and related disclosures for the year ended December 31, 2011.

–
Rolling Chip Turnover (a metric used by casinos to measure the
aggregate amount of players’ bets and overall volume of VIP gaming
room business transacted that is defined below) for the year ended
December 31, 2011 in our VIP gaming rooms was $19.9 billion, up 91%
year-over-year, compared to $10.4 billion in the same period of 2010
and $5.6 billion for the three months ended December 31, up 51%
year-over-year, compared to $3.7 billion in the same period of 2010.

–
Net income including the change in fair value of contingent
consideration of $6.2 million related to the King’s Gaming
acquisition, grew 134% to $77.3 million or $2.00 per share (fully
diluted) in the year ended December 31, 2011 from $33.0 million or
$1.88 per share (fully diluted) in the same period of 2010.

–
Non-GAAP income before amortization of intangible assets and the
change in fair value of contingent consideration related to the
acquisition of King’s Gaming was $76.1 million or $1.97 per share
(fully diluted) for the year ended December 31, 2011 as compared to
income, of $38.1 million or $2.17 per share (fully diluted) for the
year ended December 31, 2010. The increase in Non-GAAP income was
approximately 99%.

–
Net income including the change in fair value of contingent
consideration of $2.1 million related to the King’s Gaming
acquisition, grew 54% to $16. 3 million or $0.38 per share (fully
diluted) in the fourth quarter of 2011 from $10.6 million or $0.33 per
share (fully diluted) in the same period of 2010.

–
Non-GAAP income before amortization of intangible assets and the
change in fair value of contingent consideration related to the
acquisition of King’s Gaming was $19.8 million or $0.46 (fully
diluted) for the three months ended December 31, 2011 as compared to
income of $11.5 million or $0.36 (fully diluted) for the three months
ended December 31, 2010. The increase in Non-GAAP income was
approximately 72%.

The increase in net income and Non-GAAP income in each of the periods
was due primarily to higher revenue generated from increased Rolling
Chip Turnover, organic growth, the reinvestment of accumulated earnings,
increased lines of credit from the casino license holders, increased
shareholder loans, the $35.5 million from the exercise of warrants in
October 2010 as additional cage capital and the acquisition of the VIP
gaming room at the Venetian Macao-Resort-Hotel in connection with the
Company’s acquisition of King’s Gaming and the opening of the VIP gaming
room at Galaxy Resort Macau in May 2011.

AERL Chairman Lam stated, “We are pleased with our fourth quarter and
full year 2011 performance led by our effective ability to increase
Rolling Chip Turnover for our VIP gaming rooms and the addition of VIP
rooms at the Venetian Macao-Resort-Hotel and Galaxy Resort Macau. For
2011, AERL generated 97% year-over-year revenue growth, exceeding the
overall growth in Macau of 42% according to the Macau Gaming Inspection
and Coordination Bureau (DICJ), while our Non-GAAP income, before
amortization of intangible assets and change in fair value of contingent
consideration, increased 99% from the prior-year period. As we continue
into 2012, we expect another full year of substantial Rolling Chip
Turnover and revenue growth.”

Outlook for 2012

For the first two months of 2012, AERL’s Rolling Chip Turnover averaged
$1.809 billion. The Company’s Rolling Chip Turnover year-to-date through
February 2012 in Macau was $3.617 billion, an increase of 30%
year-over-year, compared to $2.775 billion for the first two months of
2011.

Chairman Lam further stated, “Aided by the addition of the VIP gaming
room at the Venetian Macao-Resort-Hotel and the VIP gaming room at
Galaxy Resort Macau, we are forecasting continued double-digit growth in
Rolling Chip Turnover for 2012. We are increasing our Rolling Chip
Turnover guidance for our three existing VIP rooms in Macau of $2.08
billion per month (subject to monthly fluctuations), which equates to a
total of approximately $24.96 billion for full year 2012, up from $19.9
billion in 2011.”

“We believe that for remainder of 2012, all of our business will remain
on a fixed commission basis. Our Non-GAAP income guidance for the year
ended December 31, 2012 is $88 million to $95 million based on the
current and expected performance of our existing three VIP gaming rooms
in Macau, and do not take into consideration any possible future
expansion or additional VIP gaming rooms,” concluded Chairman Lam.

Definition of Rolling Chip Turnover

Rolling Chip Turnover is used by casinos to measure the volume of VIP
business transacted and represents the aggregate amount of bets players
make. Bets are wagered with “non-negotiable chips” and winning bets are
paid out by casinos in so-called “cash” chips. “Non-negotiable chips”
are specifically designed for VIP players to allow casinos to calculate
the commission payable to VIP room gaming promoters. Commissions are
paid based on the total amount of “non-negotiable chips” purchased by
each player. VIP room gaming promoters therefore require the players to
“roll,” from time to time, their “cash chips” into “non-negotiable”
chips for further betting so that they may receive their commissions
(hence the term “Rolling Chip Turnover”). Through the promoters,
“non-negotiable chips” can be converted back into cash at any time.
Betting using rolling chips, as opposed to using cash chips, is also
used by the DICJ (Macau Gaming Control Board) to distinguish between VIP
table revenue and mass market table revenue.

About Asia Entertainment & Resources Ltd.

AERL, formerly known as CS China Acquisition Corp., acquired Asia Gaming
& Resort Limited (“AGRL”) on February 2, 2010. AERL is a holding company
which operates through its subsidiaries and related promoter companies
as a VIP room gaming promoter, and is entitled to receive all of the
profits of the VIP gaming promoters from VIP gaming rooms. AERL’s VIP
room gaming promoters currently participate in the promotion of three
major luxury VIP gaming facilities in Macau, China, the largest gaming
market in the world. One VIP gaming facility is located in the luxury
5-star hotel, the Star World Hotel & Casino in downtown Macau, which is
operated by Galaxy Casino, S.A. Another VIP gaming room is located in
the all new Galaxy Resort Macau in Cotai, which is operated by Galaxy
Casino, S.A. The third VIP gaming room is located at the Venetian
Macao-Resort-Hotel in Cotai.

Forward-Looking Statements

This press release includes forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements, based upon the current beliefs and
expectations of AERL’s management, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. The gaming industry is characterized by an
element of chance. Theoretical win rates for AERL’s VIP room gaming
promoters’ VIP gaming room operations depend on a variety of
factors, some beyond their control. In addition to the element of
chance, theoretical win rates are also affected by other factors,
including gaming patrons’ skill and experience, the mix of games played,
the financial resources of gaming patrons, the spread of table limits,
the volume of bets placed by AERL’s VIP room gaming promoters’ gaming
patrons and the amount of time gaming patrons spend on gambling — thus
VIP gaming rooms’ actual win rates may differ greatly over short time
periods, such as from quarter to quarter, and could cause their
quarterly results to be volatile. These factors, alone or in
combination, have the potential to negatively impact the VIP gaming
rooms’ win rates.

Conference Call and Replay Information

AERL will conduct a conference call to discuss the financial results for
the three months and year ended December 31, 2011 on March 15, 2012 at
10:00AM EDT/10:00PM Macau. To participate, please dial 1-877-723-917
(U.S. callers) or 1-719-325-4785 (International callers) at least 10
minutes prior to the scheduled start of the call. Interested parties may
also access the live call on the Internet at
www.aerlf.com
(select Events and Presentations).

Following its completion, a replay of the call can be accessed on the
Internet at the above link or for one week by calling either
877-870-5176 (U.S. callers) or 1-858-384-5517 (International callers)
and providing conference ID 6738949.

ASIA ENTERTAINMENT & RESOURCES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
For the Three Months Ended December 31, 2011 For the Three Months Ended December 31, 2010 For the Year Ended December 31, 2011 For the Year Ended December 31, 2010
—————————————— —————————————— ———————————- ———————————-
(Unaudited) (Unaudited) (Unaudited) *
Revenue from VIP Gaming Operations $ 69,705,359 $ 43,095,212 $ 250,575,452 $ 127,036,361
————– ————– ————– ————– ———— ———— ———— ————
Expenses
– Commission to Agents 44,487,138 27,097,890 155,968,504 76,607,712
– Selling, General and Administrative Expenses 4,910,184 4,145,264 16,550,387 11,246,938
– Special Rolling Tax 557,441 368.805 1,993,208 1,042,400
– Amortization of Intangible Assets 1,265,409 843,061 5,058,204 843,061
————– ————– ———— ————
Total Expenses 51,220,172 32,455,020 179,570,303 89,740,111
————– ————– ———— ————
Operating income attributable to ordinary shareholders before change 18,485,187 10,640,192 71,005,149 37,296,250
in fair value of contingent consideration and prior owners’ interest
in pre-acquisition profit
Prior Owners’ Interest in Pre-Acquisition Profit – – – (4,329,385)
————– ————– ———— ———— ———-
Operating income attributable to ordinary shareholders before change 18,485,187 10,640,192 71,005,149 32,966,865
in fair value of contingent consideration
Change in Fair Value of Contingent Consideration for the Acquisition (2,128,679) – 6,248,361 -
of King’s Gaming
————– ————– ————– ———— ————
Net Income Attributable to Ordinary Shareholders 16,356,508 10,640,192 77,253,510 32,966,865
============== ============== ============ ============
Comprehensive (Loss) Income
Foreign Currency
– Translation Adjustment 191,861 (83,053) (64,,634) (41,534)
————– ————– ————– ———— ———- ———— ———-
Total Comprehensive Income $ 16,548,369 $ 10,557,139 $ 77,188,876 $ 32,925,331
============== ============== ============== ============== ============ ============ ============ ============
Net Income Per Share
Basic $ 0.42 $ 0.54 $ 2.07 $ 2.33
============== ============== ============== ============== ============ ============ ============ ============
Diluted $ 0.38 $ 0.33 $ 2.00 $ 1.88
============== ============== ============== ============== ============ ============ ============ ============
Weighted Average Shares Outstanding
Basic 38,824,741 19,513,341 37,371,426 14,177,408
============== ============== ============ ============
Diluted 42,619,352 32,024,708 38,691,186 17,571,255
============== ============== ============ ============

*Derived from the audited financial statements for the year ended
December 31, 2010.

ASIA ENTERTAINMENT & RESOURCES LTD.
CONSOLIDATED BALANCE SHEETS
DECEMBER 31,
2011 2010
------------------- -------------------
(Unaudited) *
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents $ 16,718,565 $ 13,843,622
Accounts Receivable, Net 1,240,142 10,802,582
Markers Receivable 240,131,089 120,140,393
Prepaid Expenses and Other Assets 292,559 152,869
----------- -----------
Total Current Assets 258,382,355 144,939,466
Intangible Assets (net of accumulated amortization of $5,902,419 54,983,937 60,110,307
and
$842,712 at December 31, 2011 and 2010, respectively)
Goodwill 14,992,009 15,008,424
Property and Equipment (net of accumulated depreciation of 26,855 -
$1,101
and $0 at December 31, 2011 and 2010, respectively)
Other Assets 22,158 -
----------- -----------
TOTAL ASSETS $ 328,407,314 $ 220,058,197
------ ----------- ------ -----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Lines of Credit Payable $ 46,270,563 $ 11,840,640
Accrued Expenses 16,157,439 10,815,135
Payable-King's Gaming Acquisition, current portion 12,057,600 12,835,395
Loan Payable, Shareholders, current 2,641,619 61,066,220
----------- -----------
Total Current Liabilities 77,127,221 96,557,390
Loan Payable, Shareholders 60,000,000 -
Long-term Payable-King's Gaming Acquisition, net of current portion 32,492,985 38,022,169
----------- -----------
Total Liabilities 169,620,206 134,579,559
----------- -----------
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred Shares, $0.0001 par value Authorized 1,150,000 - -
shares,;
none issued
Ordinary Shares, $0.0001 par value Authorized 200,000,000 3,881 2,255
shares;
issued and outstanding 38,804,064 at December 31, 2011
and
22,544,064 at December 31, 2010
Additional Paid-in Capital 52,581,098 52,581,098
Retained Earnings 106,308,297 32,936,819
Accumulated Comprehensive Loss (106,168) (41,534)
----------- - ----------- -
Total Shareholders' Equity 158,787,108 85,478,638
----------- -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 328,407,314 $ 220,058,197
====== =========== ====== ===========
*Derived from the audited financial statements for the year
ended December 31, 2010.

Cash Flow Information
For the Year Ended December 31,
2011 2010 *
---------- --------------------
(Unaudited)
Net cash provided by (used in) operating activities $ 5,280,509 $ (76,451,485)
Net cash used in investing activities $ (27,956) $ (9,028,590)
Net cash (used in) provided by financing activities $ (2,305,762) $ 99,009,722
--- ---------- --- --- -----------
Net increase in cash and cash equivalents $ 2,946,791 $ 13,529,647
--- ---------- --- -----------
Condensed from audited financial statements

Non-GAAP Financial Measure

Our calculation of non-GAAP income (net income including pre-acquisition
profit before amortization of intangible assets and the change in fair
value of contingent consideration) and Non-GAAP earnings per share for
the years ended December 31, 2011 and 2010, differs from earnings per
share based on net income because it does not include amortization of
intangible assets and the change in fair value of contingent
consideration. We use this information internally in evaluating our
operations and believe this information is important to investors
because it provides a complete picture of our operations for the entire
period and is more accurately comparable to the prior-year period.
Notwithstanding the foregoing, however, Non-GAAP income and earnings per
share should not be considered an alternative to, or more meaningful
than, net income and earnings per share as determined in accordance with
GAAP. The following is a reconciliation of our net income to Non-GAAP
income and GAAP EPS to our Non-GAAP EPS:

For the Year Ended For the Year Ended
December 31, 2011 December 31, 2010
------------------- -------------------
Net Income attributable to ordinary shareholders $ 77,253,510 $ 32,966,865
Amortization of intangible assets 5,058,204 843,061
Pre-Acquisition profit 4,329,385
Change in fair value of contingent consideration (6,248,361) -
---------- - ----------
Non-GAAP income (before amortization of $ 76,063,353 $ 38,139,311
intangible assets
including
pre-acquisition profit and change in fair
value
of contingent consideration)
--------- ---------- --------- ----------

For the Year Ended December 31, For the Year Ended December 31,
2011 2010
Basic Fully Diluted Basic Fully Diluted
---------------- ---------------- -------------- -----------------
Earnings per share attributable to ordinary shareholders $ 2.07 $ 2.00 $ 2.33 $ 1.88
Amortization of intangible assets 0.14 0.13 0.06 0.05
Prior Owners' Interest in Pre-Acquisition Profit - - 0.31 0.25
Change in fair value of contingent consideration (0.17) (0.16) - -
----- ---- ----- ---- ------ ---------
Non-GAAP Earnings per share (before amortization of intangible $ 2.04 $ 1.97 $ 2.69 $ 2.17
assets
including pre-acquisition profit and change in fair
value of contingent consideration)
==== ===== ==== ==== ===== ==== ====== ====== ====== =========

SOURCE: Asia Entertainment & Resources Ltd.

Asia Entertainment & Resources Ltd.
James Preissler, +1 646 450 8808
preissj@aerlf.com
or
William Schmitt, ICR
203-682-8294
william.schmitt@icrinc.com

Copyright Business Wire 2012

/quotes/zigman/117046/quotes/nls/aerl

Add to portfolio

AERL

Asia Entertainment & Resources Ltd.

$
6.01

-0.07
-1.15%

Volume: 705.00
March 22, 2012 9:42a

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a companys economic output. Thats because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

Calling all cash flows

When you are trying to buy the markets best stocks, its worth checking up on your companies free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. Thats what we do with this series. Today, were checking in on World Wrestling Entertainment (NYS: WWE) , whose recent revenue and earnings are plotted below.