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<SEC-DOCUMENT>0000950134-05-005426.txt : 20050318
<SEC-HEADER>0000950134-05-005426.hdr.sgml : 20050318
<ACCEPTANCE-DATETIME>20050318083753
ACCESSION NUMBER:		0000950134-05-005426
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050318
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050318
DATE AS OF CHANGE:		20050318

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:		05690370

	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>c93335e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>


<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 12pt">Date of Report (Date of earliest event reported): March&nbsp;18, 2005

<P align="center" style="font-size: 24pt"><B>Lakes Entertainment, Inc.</B>
<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Minnesota
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0-24993
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">41-1913991</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">130 Cheshire Lane, Minnetonka, Minnesota<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">55305</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="center" style="border-top: 1px solid #000000">&nbsp;<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">(Address of principal executive offices)<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">Registrant&#146;s telephone number, including area code:<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(952) 449-9092</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="center">Not Applicable<BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="center" style="border-top: 1px solid #000000">&nbsp;<BR></TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="center">(Former name or former address, if changed since last report)<BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17
CFR 230.425)</TD>
</TR>
</TABLE>
</DIV>


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17
CFR 240.14a-12)</TD>
</TR>
</TABLE>
</DIV>


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>
</DIV>


<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>
</DIV>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>









<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>


<DIV style="font-family: 'Times New Roman',Times,serif">










<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="c93335exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link2 "Item&nbsp;7.01. Regulation&nbsp;FD Disclosure." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;18, 2005, Lakes Entertainment, Inc. issued a press release. A
copy of the press release is being furnished to the Securities and Exchange
Commission and is attached as Exhibit&nbsp;99.1 to this Form 8-K.

<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Not Applicable


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Not Applicable


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Exhibits


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakes Entertainment, Inc. Press Release dated March&nbsp;18, 2005.

<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">LAKES ENTERTAINMENT, INC.<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: March 18, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/Timothy J. Cope
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Timothy J. Cope&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated March&nbsp;18, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
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</TEXT>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c93335exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
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<TITLE>exv99w1</TITLE>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link2 "EXHIBIT 99.1" -->

<P align="right" style="font-size: 10pt">EXHIBIT 99.1

<P>&nbsp;

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="c93335lakes.gif" alt="(LAKES ENTERTAINMENT, INC.)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>NEWS RELEASE<BR>
Lakes Entertainment, Inc.<BR>
130 Cheshire Lane<BR>
Minnetonka, MN 55305<BR>
952-449-9092<BR>
952-449-9353 (fax)<BR>
www.lakesentertainment.com<BR>
Traded: Nasdaq &#147;LACO&#148;</B></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV><HR size="2" noshade width="100%" align="center" color="#000000">
</DIV>

<DIV align="left" style="font-size: 10pt"><B>FOR FURTHER INFORMATION CONTACT:</B>
</DIV>


<DIV align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">
</DIV>


<DIV align="left" style="font-size: 10pt">Timothy J. Cope 952-449-7030</DIV>



<P align="left" style="font-size: 10pt"><B>FOR IMMEDIATE RELEASE:<BR>
Friday, March&nbsp;18, 2005</B>


<P align="center" style="font-size: 10pt"><B>LAKES ENTERTAINMENT, INC. ANNOUNCES EXTENSION OF FILING DATE FOR FORM 10-K</B>


<P align="left" style="font-size: 10pt"><B>MINNEAPOLIS, March&nbsp;18, 2005 &#151; Lakes Entertainment, Inc. (Nasdaq &#147;LACO&#148;) </B>today
announced that it has notified the SEC that it will need to delay the filing of
its annual report on Form 10-K for the year ended January&nbsp;2, 2005.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The notification provides an extension to file the Form 10-K no later than 15
calendar days after its original due date of March&nbsp;18. If filed within that
time frame, Lakes will have satisfied the SEC&#146;s requirement for a timely
submission of the Form 10-K.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The filing delay is in response to comments Lakes has received from the SEC
staff on Lakes&#146; Form 10-K for the year ended December&nbsp;28, 2003, related to a
review of Lakes&#146; financial statements. The comments would affect the company&#146;s
current Form 10-K filing. The delay enables Lakes to continue its discussions
with the SEC staff about its comments before filing the Form 10-K.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC staff has questioned Lakes&#146; accounting for development costs and
advances related to Indian casinos. Lakes has responded to the SEC staff&#146;s
comments; however, the comments have not yet been resolved.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lakes emphasized that the delay relates to SEC comments about the
appropriateness of including development costs and advances as assets on its
balance sheet, not a failure to disclose events or risks. The SEC&#146;s comments
stem from a staff review of Lakes&#146; financial filings, as required for every
public company at least once every three years under the Sarbanes-Oxley Act of
2002.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The SEC comments do not affect Lakes&#146; cash position, its business model or the
potential of our various casino projects,&#148; said Lyle Berman, Chairman and Chief
Executive Officer of Lakes Entertainment. &#147;The discussion we&#146;re having with
the SEC is


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">related entirely to the financial statement treatment of certain transactions
recognized under accounting principles for our industry.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lakes records costs and advances to Indian tribes for the development of
casinos as assets on its balance sheet. Lakes believes that recording development costs and advances as
assets, as consistently reflected in its audited financial statements, is in accordance with generally accepted accounting principles. Lakes
believes its accounting is consistent with the treatment of such costs and
advances by other publicly traded companies with similar Indian casino
development agreements. Specifically, participants in the Indian gaming
industry regularly fund development costs for new Indian casinos and make
advances to Indian tribes. In Lakes&#146; 15&nbsp;years in the Indian gaming industry
(including the experience of Lakes&#146; predecessor, Grand Casinos, Inc.), Lakes
and the other participants in the industry have generally followed similar
accounting practices to those currently followed by Lakes.


<P align="left" style="font-size: 10pt"><B>About Lakes Entertainment</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lakes Entertainment, Inc. currently has development and management agreements
with five separate Tribes for new casino operations in Michigan, California,
Texas and Oklahoma, a total of seven separate casino sites. In addition, Lakes
has announced plans to develop a company owned casino resort project in
Vicksburg, Mississippi. The Company also owns approximately 64% of WPT
Enterprises, Inc. (Nasdaq:WPTE), a separate publicly held 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.

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">



<P align="left" style="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Private Securities Litigation Reform Act of 1995 provides a &#147;safe harbor&#148;
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, SEC
staff comments that question various aspects of Lakes&#146; financial statements,
which comments have not yet been resolved, possible delays in completion of
Lakes&#146; 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 owed to Lakes by Indian tribes;
possible need for future financing to meet Lakes&#146; expansion goals; risks of
entry into new businesses; reliance on Lakes&#146; management; and the fact that the
WPT shares held by Lakes are currently not liquid assets, and there is no
assurance that Lakes will be able to realize value from these holdings equal to
the current or future market value of WPT common stock. There are also risks
and uncertainties relating to WPT that may have a material effect on the
Company&#146;s consolidated results of operations or the market value of the WPT
shares held by the Company, including WPT&#146;s significant dependence on the
Travel Channel as a source of revenue; the potential that WPT&#146;s television
programming will fail to maintain a sufficient audience; the risk that
competitors with greater financial resources or marketplace presence might
develop television programming that would directly compete with WPT&#146;s
television programming; the risk that WPT may not be able to protect its
entertainment concepts, current and future brands and other intellectual
property rights; risks associated with future expansion into new or
complementary businesses; the termination or impairment of WPT&#146;s relationships
with key licensing and strategic partners; and WPT&#146;s dependence on its senior
management team. For more information, review the Company&#146;s filings with the
Securities and Exchange Commission.

</DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
