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Asia Entertainment & Resources Ltd. Announces Repurchase of Over One Million Shares in Fourth Quarter 2012



  Asia Entertainment & Resources Ltd. Announces Repurchase of Over One Million
  Shares in Fourth Quarter 2012

Business Wire

HONG KONG -- January 7, 2013

Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL), which operates
through its subsidiaries and related promoter companies as a VIP room gaming
promoter, today announced that for the fourth quarter of 2012 (specifically
from when the blackout period ended on November 20 until December 31), the
Company repurchased 1,011,600 shares at an average price of $3.17 per share
under its share repurchase program.

For the full year 2012 under the current repurchase program, the Company
repurchased and retired 1,273,947 shares. The share repurchase program, which
expires June 30, 2013, authorizes the Company to further purchase up to an
additional 726,053 of its ordinary shares on the open market at prices to be
determined by the Company’s management.

“We expect to continue to be opportunistic purchasers of our shares when doing
so will provide an increase in immediate shareholder value,” said AERL
Chairman Lam. “Further, we will continue to explore additional strategies to
grow our business and create value for our shareholders.”

About Asia Entertainment & Resources Ltd.

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 four major
luxury VIP gaming facilities in Macau, China, the largest gaming market in the
world. One VIP gaming room is located at the top-tier 5-star hotel, the Star
World Hotel & Casino in downtown Macau, and another is located in the luxury
5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by
Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Venetian
Macao-Resort-Hotel and City of Dreams Macau, both 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.

Contact:

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