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We present results of a study of 12 dust-reddened quasars with 0.4 < z < 2.65and reddenings in the range 0.15 < E(B-V) < 1.7. We obtained ACIS-S X-rayspectra of these quasars, estimated the column densities towards them, andhence obtained the gas:dust ratios in the material obscuring the quasar. Wedetect all but one of the red quasars in the X-rays. Even though there is noobvious correlation between the X-ray determined column densities of oursources and their optical color or reddening, all of the sources show absorbedX-ray spectra. When we correct the luminosity for absorption, they can beplaced among luminous quasars; therefore our objects belong to the group ofhigh luminosity analogues of the sources contributing to the X-ray backgroundseen in deep X-ray observations. Such sources are also found in serendipitousshallow X-ray surveys. There is a hint that the mean spectral slope of the redquasar is higher than that of normal, unobscured quasars, which could be anindication for higher accretion rates and/or an evolutionary effect. Weinvestigate the number density of these sources compared to type 2 AGN based onthe X-ray background and estimate how many moderate luminosity red quasars maybe found in deep X-ray fields.Comment: Accepted for publication in ApJ. 21 pages, 3 figure

ChandraObservations of 12 Luminous Red Quasars