Asia Entertainment & Resources Ltd. Announces Commencement of Rights Offering

  Asia Entertainment & Resources Ltd. Announces Commencement of Rights
  Offering

Business Wire

HONG KONG -- June 4, 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 that it has commenced its previously
announced rights offering and filed with the Securities and Exchange
Commission (the “SEC”) the prospectus supplement relating to the rights
offering.

The rights offering will expire on June 21, 2013 at 5:00 p.m., New York City
time, unless extended. The subscription rights have been admitted for trading
on the Nasdaq Global Market under the symbol “AERLR”. AERL expects the rights
can be traded on the Nasdaq Global Market commencing on June 6, 2013 until
4:00 p.m., New York City time, on June 21, 2013, unless the rights offering is
extended. AERL intends to use the net proceeds of the rights offering to pay
off outstanding indebtedness owed to certain of its shareholders. Sterne, Agee
& Leach, Inc. has been appointed dealer manager for the rights offering.

Important Notice

AERL has filed a prospectus supplement to its registration statement
(including a prospectus) with the SEC (File No. 333-185759) with respect to
the proposed rights offering. Before you invest, you should read the
prospectus supplement, the accompanying prospectus and other documents AERL
has filed with the SEC for more complete information about AERL and the rights
offering.

You may obtain the foregoing documents, including the prospectus supplement
and accompanying prospectus, for free by visiting the SEC web site at
www.sec.gov. In addition, copies of the prospectus supplement, the
accompanying prospectus and other related documents for the rights offering
may be obtained from the information agent, Georgeson Inc., at (877) 278-4774.
Investors should read the prospectus supplement, the accompanying prospectus
and other related documents carefully before making any investment decision
because these documents contain important information.

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.

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 AERL’s expectations as to when the
rights can be traded. 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.

Contact:

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