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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-04-009218.txt : 20040624
<SEC-HEADER>0000950134-04-009218.hdr.sgml : 20040624
<ACCEPTANCE-DATETIME>20040624125443
ACCESSION NUMBER:		0000950134-04-009218
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040623
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20040624

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:		04879016

	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>c86353e8vk.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 23, 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 23, 2004.

ITEM 9.  REGULATION FD DISCLOSURE

         On June 23, 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 24, 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 23, 2004.







</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c86353exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>



                                                                    EXHIBIT 99.1

                                                      NEWS RELEASE
                                                      LAKES ENTERTAINMENT, INC.
                                                      130 CHESHIRE LANE
[LAKES ENTERTAINMENT, INC. LOGO]                      MINNETONKA, MN 55305
                                                      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:
Wednesday, June 23, 2004


                  LAKES ENTERTAINMENT, INC. ANNOUNCES UPDATE ON
                             SHINGLE SPRINGS PROJECT


MINNEAPOLIS, JUNE 23, 2004 -- LAKES ENTERTAINMENT, INC. (NASDAQ "LACO") today
announced that a ruling with respect to the casino development planned by the
Shingle Springs Rancheria was issued June 21, 2004 by the Superior Court of
California, County of Sacramento. The ruling indicates that the addendum
previously provided to the court by the California Department of Transportation
(Caltrans) did not provide a quantitative showing to satisfy the court's earlier
request for a clarification on meeting the state ambient ozone standard. The
addendum was required by the court's December 31, 2003 ruling, which found for
Caltrans on 15 of 16 major issues in this case. The addendum addresses the
remaining issue. The court recognized that the information provided by Caltrans
does qualitatively show that the project may comply with the state standard, but
concluded that is insufficient. Rather the court is requiring a quantitative
analysis and the court recognizes that the methodology for that analysis "is not
readily apparent." In addition, the ruling specifically states, "Moreover such
methodology appears necessary for the CEQA analysis of transportation projects
throughout the state, including transportation projects for which respondents
(i.e. Caltrans) have approval authority."

Caltrans, the Shingle Springs Tribe and Lakes are reviewing the order to
determine the best methods available to respond to the court's order. They are
also evaluating the impact of the ruling, if any, on the anticipated timing of
the opening of the planned casino.

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 one 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 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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