The Midnight Ace marked the first and possibly only film made by Dunbar Film Corp., located in the Franklin Theater building on Lenox Avenue in New York City. Swan E. Micheaux, Jr., who had previously worked for eight years with his brother, noted African-American filmmaker Oscar Micheaux, had formed Dunbar Film Corp. with the support of white investors. While the president of the company, Peter Eckert, and the secretary and treasurer, Bertha Elwald, were white, the director of the film, John H. Wade, was black, as was Swan Micheaux. Around the time of filming, an item in the 10 Mar 1928 Afro-American pointed out that Oscar Micheaux’s company, with which Swan Micheaux was no longer associated, had gone into bankruptcy three weeks earlier.
       According to the 17 Mar 1928 Afro-American, Swan Micheaux had secured the film rights to twelve properties by story writer Jack Harrison, and through Dunbar he intended to release a film every six weeks. Micheaux was responsible for booking, buying and supervising production on The Midnight Ace, which cost a reported $8,000. Filming took place at the Warner Bros. studio facility in Brooklyn, NY, beginning 1 Mar 1928 and ending exactly one month later, as stated in the 5 May 1928 Pittsburgh Courier. Five of the fifteen cast members were said to be white.
       Production on Dunbar’s second film, The Champion’s Protege, was scheduled to begin on 15 May 1928, as noted in Pittsburgh Courier. However, that film may not have been completed or released.
       The Midnight Ace was scheduled to open in New York City on 5 May 1928, as announced in the 28 Apr 1928 Chicago Defender; however, that opening could not be confirmed. The film made its debut in Pittsburgh, PA, in late Jul 1928, and in Chicago, IL, the week of 15 Oct 1928, at the Vendome Theatre, as cited in contemporary sources. Sylvester Russell’s review of the Chicago opening, published in the 20 Oct 1928 Pittsburgh Courier, stated: "While it [the film] was only fair it is a slight improvement on his [Swan Micheaux's] brother Oscar. It had one thrill."
       According to items in the 28 Mar 1928 Var and 7 Apr 1928 Afro-American, a stage production of The Midnight Ace was in the works, to be produced by Ray Dugas, and starring Lawrence Chenault.