After experiencing losses last year, Lakes Entertainment is seeing a turnaround in revenues thanks to its tribal casino business.
Lakes earned $2.8 million in the second quarter of this year, a reversal of the $5.2 million it lost during the same time last year.
The company attributed the turnaround to the Four Winds Casino Resort, owned by the Pokagon Band of Potawatomi Indians of Michigan, and the Red Hawk Casino, owned by the Shingle Springs Band of Miwok Indians of California.
"Our revenue grew during 2009 primarily as a result of improved performance at the Four Winds Casino Resort and the opening of the Red Hawk Casino," said Lakes CEO Lyle Berman, The Sacramento Business Journal reported.
Four Winds opened in August 2007. Red Hawk opened in December 2008.
Get the Story:
Lakes Entertainment hits jackpot with Red Hawk Casino
(The Sacramento Business Journal 8/5)
Business Deals | California | Openings and Closings
Lakes Entertainment sees revenue turnaround
Thursday, August 6, 2009
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