Lakes Entertainment reports loss in connection to tribal gaming

Thursday, August 9, 2012  

Lakes Entertainment reported a $1.1 million operating loss in the last quarter in connection with two tribal gaming projects.

The Pokagon Band of Potawatomi Indians in Michigan bought out its management contract with Lakes last year. As a result, the company saw a big drop in revenue it normally would have seen from the tribe.

Lakes also ended its relationship with the Jamul Indian Village of California. The company took an $800,000 loss in connection with the project.

Lakes manages a casino for the Shingle Springs Band of Miwok Indians and said the facility "showed improvement" in the second quarter.

Get the Story:
Press Release: Lakes Entertainment Announces Results for Second Quarter 2012 (Lakes Entertainment 8/8)
Casino deal dings Lakes Entertainment (The Minneapolis Star Tribune 8/9)
Struggling Red Hawk Casino in Shingle Springs shows improvement in second quarter (The Sacramento Bee 8/8)