Asia Entertainment & Resources Ltd. Announces Due Diligence Has Been Completed in Connection with the Acquisition of VIP Gaming

  Asia Entertainment & Resources Ltd. Announces Due Diligence Has Been
  Completed in Connection with the Acquisition of VIP Gaming Room at Le Royal
  Arc Casino

Business Wire

HONG KONG -- June 17, 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 it has completed due diligence in connection
with its proposed acquisition of all of the outstanding interests and
operations of the VIP gaming room at Level 1 of Le Royal Arc Casino located in
NAPE, Macau. Subject to satisfaction of customary closing conditions, AERL
expects to close the transaction by June 30, 2013. Following this transaction,
AERL will be able to expand its existing agents network. Upon the closing of
the acquisition, AERL will have 40 tables in five VIP rooms.

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.

Contact:

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