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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-04-009118.txt : 20040622
<SEC-HEADER>0000950134-04-009118.hdr.sgml : 20040622
<ACCEPTANCE-DATETIME>20040622154051
ACCESSION NUMBER:		0000950134-04-009118
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040621
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20040622

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKES ENTERTAINMENT INC
		CENTRAL INDEX KEY:			0001071255
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				411913991
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24993
		FILM NUMBER:		04874895

	BUSINESS ADDRESS:	
		STREET 1:		130 CHESHIERE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305
		BUSINESS PHONE:		6124499092

	MAIL ADDRESS:	
		STREET 1:		130 CHESHIRE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAKES GAMING INC
		DATE OF NAME CHANGE:	19980929
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c86288e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): June 21, 2004


                            LAKES ENTERTAINMENT, INC.
             (Exact name of registrant as specified in its charter)


         MINNESOTA                       0-24993                41-1913991
(State or other jurisdiction        (Commission File           (IRS Employer
     of incorporation)                   Number)             Identification No.)



                 130 CHESHIRE LANE, MINNETONKA, MINNESOTA 55305
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (952) 449-9092



                                 NOT APPLICABLE
          (Former name or former address, if changed since last report)



<PAGE>



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

      (c)     Exhibits

         99.1   Lakes Entertainment, Inc. Press Release dated June 21, 2004.

ITEM 9.  REGULATION FD DISCLOSURE

         On June 21, 2004, Lakes Entertainment, Inc. issued a press release.  A
copy of the press release is attached as Exhibit 99.1 to this Form 8-K.



                                    SIGNATURE


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                             LAKES ENTERTAINMENT, INC.
                                             (Registrant)



Date: June 22, 2004                          By:  /s/Timothy J. Cope
                                                  ------------------------------
                                                  Name: Timothy J. Cope
                                                  Title: President and Chief
                                                         Financial Officer


<PAGE>



                                  EXHIBIT INDEX


EXHIBIT NO.            DESCRIPTION
- -----------            -----------
99.1                   Press Release dated June 21, 2004.








</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c86288exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>



                                                                    EXHIBIT 99.1

                                                      NEWS RELEASE
                                                      LAKES ENTERTAINMENT, INC.
                                                      130 CHESHIRE LANE
                                                      MINNETONKA, MN 55305
[LAKES ENTERTAINMENT, INC. LOGO]                      952-449-9092
                                                      952-449-9353 (fax)
                                                      WWW.LAKESENTERTAINMENT.COM
                                                      TRADED: NASDAQ "LACO"

- --------------------------------------------------------------------------------
FOR FURTHER INFORMATION CONTACT:
Timothy J. Cope 952-449-7030
- --------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE:
Monday, June 21, 2004



                LAKES ENTERTAINMENT, INC. ANNOUNCES NIPMUC NATION
                           DENIED FEDERAL RECOGNITION


MINNEAPOLIS, JUNE 21, 2004 -- LAKES ENTERTAINMENT, INC. (NASDAQ "LACO") today
announced that the Nipmuc Nation of Massachusetts has been denied recognition as
an Indian Tribe and sovereign government within the meaning of federal law by
the Bureau of Indian Affairs (BIA). The BIA had previously denied recognition of
the Nipmuc Nation in September 2001, and the current ruling was based on BIA's
reconsideration after the submission of additional information by the Nation.

The ruling means the Nation will not qualify at this time for numerous federal
programs and benefits to help them achieve self-sufficiency, as well as the
opportunity to pursue the possibility of Native American gaming. Lakes currently
has a development and management agreement with the Nipmuc Nation for a
potential gaming operation if the Nation were to become recognized and receive
all additional necessary approvals for such a project. Lakes currently has
approximately $6 million invested in this project which is anticipated to be
written off in the second quarter of 2004.

Lyle Berman, Chairman and CEO of Lakes stated, "The Nipmuc Nation has been
fighting for decades to receive federal recognition and we are extremely
disappointed for them. The Nation has told us that it feels strongly that this
ruling is incorrect and that its petition has been misinterpreted. It is
currently determining its next course of action."

Lakes Entertainment, Inc. currently has development and management agreements
with four separate Tribes for four new casino operations, one in Michigan, two
in California and with the Nipmuc Nation on the East Coast. Lakes Entertainment
also has agreements for the development of one additional casino on Indian-owned
land in California through a joint venture with MRD Gaming, which is currently
being disputed by the Tribe. Additionally, the Company owns approximately 80% of
World Poker Tour, LLC, a media and entertainment company principally engaged in
the development, production and marketing of gaming themed televised
programming, the licensing and sale of branded products and the sale of
corporate sponsorships.


<PAGE>




Lakes Entertainment, Inc. common shares are traded on the Nasdaq National Market
under the trading symbol "LACO".

- --------------------------------------------------------------------------------
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this press
release (as well as information included in oral statements or other written
statements made or to be made by Lakes Entertainment, Inc.) contains statements
that are forward-looking, such as statements relating to plans for future
expansion and other business development activities as well as other capital
spending, financing sources and the effects of regulation (including gaming and
tax regulation) and competition. Such forward-looking information involves
important risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of the Company.
These risks and uncertainties include, but are not limited to, possible delays
in completion of Lakes' casino projects, including various regulatory approvals
and numerous other conditions which must be satisfied before completion of these
projects; possible termination or adverse modification of management contracts;
continued indemnification obligations to Grand Casinos; highly competitive
industry; possible changes in regulations; reliance on continued positive
relationships with Indian tribes and repayment of amounts owned to Lakes by
Indian tribes; possible need for future financing to meet Lakes' expansion
goals; risks of entry into new businesses; and reliance on Lakes' management.
For more information, review the Company's filings with the Securities and
Exchange Commission.
- --------------------------------------------------------------------------------




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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