Asia Entertainment & Resources Ltd. Announces Proposed Rights Offering

  Asia Entertainment & Resources Ltd. Announces Proposed Rights Offering

Business Wire

HONG KONG -- May 24, 2013

Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL), which operates
through its subsidiaries and related promoter companies as a VIP room gaming
promoter in Macau, today announced the record date for a proposed rights

As AERL previously announced, AERL is seeking to dual list its securities on
the Hong Kong Stock Exchange. In order to comply with Hong Kong listing
requirements relating to the financial independence of the company, AERL
should, among other things, repay in full amounts due to existing shareholders
in order to demonstrate its financial independence from shareholders at the
time of the listing in Hong Kong. In order to raise funds sufficient to repay
such amounts, AERL plans to offer subscription rights to purchase
approximately $63 million of its ordinary shares to each shareholder of record
as of June 3, 2013. The rights offering will permit AERL to raise equity
capital through the sale of ordinary shares without diluting existing
shareholders who exercise their rights in full. The number of rights, exercise
price of the rights and other terms will be determined and announced prior to
the commencement of the offering. AERL expects that the rights will be
tradable, thereby allowing existing shareholders that are not interested in
exercising their rights to sell their rights in the public market.

Certain of AERL’s current shareholders are expected to agree to purchase any
ordinary shares underlying unexercised rights. Some of the shareholders
agreeing to purchase such shares hold the indebtedness that will be repaid
with the proceeds of the rights offering. No consideration is expected to be
paid to these shareholders for their agreement to purchase these shares.

The offering of the ordinary shares underlying the rights will be made only by
means of a prospectus meeting the requirements of the Securities Act of 1933,
as amended. This press release does not constitute an offer to sell or the
solicitation of an offer to buy ordinary shares, nor shall there be any sale
of the ordinary shares in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities law of any such jurisdiction.

Shareholders should carefully read the prospectus, rights certificate and
related materials when they are available because they will contain important

About Asia Entertainment & Resources Ltd.

Asia Entertainment & Resources Ltd. 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 Sands Cotai Central 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. Forward looking statements include, but
are not limited to, statements regarding the rights offering, the expected
timing of the rights offering and the anticipated proceeds to be raised
pursuant to the rights offering. Investors and potential investors should
consult all of the information set forth herein and should also refer to the
risk factors set forth in AERL's Annual Report on Form 20-F filed on April 5,
2013, and other reports filed or to be filed from time-to-time with the
Securities and Exchange Commission.


Asia Entertainment & Resources Ltd.
James Preissler, 646-450-8808
William Schmitt, 203-682-8294
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