-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KsjyLfi2DLbsAmFpaGe5xEJcNin6DgbPz59rQ8caY5P9S5tzfVWk56UZvOGG5Mk2
 kriCMf1Sd4odLqd5D8LHDQ==

<SEC-DOCUMENT>0000950134-05-006204.txt : 20050329
<SEC-HEADER>0000950134-05-006204.hdr.sgml : 20050329
<ACCEPTANCE-DATETIME>20050329095901
ACCESSION NUMBER:		0000950134-05-006204
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050328
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050329
DATE AS OF CHANGE:		20050329

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:		05708215

	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>c93709e8vk.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>

<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 colspan="3" valign="top" align="center">Date of Report (Date of earliest event reported):<BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;28, 2005</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" style="font-size: 20pt" align="center"><B>Lakes Entertainment, Inc.</B><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">(Exact name of registrant as specified in its charter)<BR></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<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="c93709exv99w1.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;28, 2005, Lakes Entertainment, Inc. issued a press release
relating to the Federal District Court ruling on the Pokagon Casino to be
developed in Michigan. 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="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lakes Entertainment, Inc. Press Release dated March&nbsp;28, 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:&nbsp;March 28, 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="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="40%">&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;28, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c93709exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<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="70%"></TD>
    <TD width="5%"></TD>
    <TD width="25%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="c93709lakes.gif" alt="(LAKES ENTERTAINMENT, INC. LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" 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>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><HR size="2" noshade width="100%" align="center" color="#000000">
<div style="font-size: 10pt"><B>FOR FURTHER INFORMATION CONTACT:</B><BR>
<HR size="1" noshade width="100%" align="center" color="#000000">
Timothy J. Cope 952-449-7030</div>


<P align="left" style="font-size: 10pt"><B>FOR IMMEDIATE RELEASE:</B><BR>
Monday, March&nbsp;28, 2005


<P align="center" style="font-size: 12pt"><B>LAKES ENTERTAINMENT,
INC. ANNOUNCES FEDERAL COURT<BR>RULING FOR POKAGON CASINO</B>


<P align="left" style="font-size: 10pt"><B>MINNEAPOLIS, March&nbsp;28, 2005 &#151; Lakes Entertainment, Inc. (Nasdaq &#147;LACO&#148;)</B>
announced today that Federal District Court Judge James Robertson has ruled in
favor of the Pokagon Band of Potawatomi Indians by dismissing the last
remaining issue filed in the lawsuit by Taxpayers of Michigan Against Casinos
(TOMAC). The ruling clears the way for the Bureau of Indian Affairs (BIA)&nbsp;to
take a 675-acre parcel of land in New Buffalo Township into trust for the
Tribe. Once the land is taken into trust, Lakes will help the Pokagon Band
build and manage their casino development.


<P align="left" style="font-size: 10pt">Lyle Berman, Chairman and CEO of Lakes stated, &#147;We are very pleased with the
Judge&#146;s decision and extremely happy for the Pokagon Band. This is a lawsuit
that has taken four years to resolve and has taken four years away from the
Pokagon Band&#146;s efforts to become self-sufficient.&#148;


<P align="left" style="font-size: 10pt">The Pokagon Band will now urge the Department of Interior and the BIA to
proceed with its decision to take the land into trust.


<P align="left" style="font-size: 10pt">&#147;We look forward to begin construction of the Four Winds Casino as soon as the
trust process is completed,&#148; commented Tim Cope, President and CFO of Lakes.
&#147;The first phase of development is planned to include approximately 3,000 slot
machines and 100 table games, as well as numerous restaurants, enclosed parking
and several other casino resort amenities. The Four Winds Casino will be the
only land-based casino in the northern Indiana/western Michigan market. We
currently anticipate opening the casino approximately ten to twelve months
after construction begins.&#148;

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

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


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


<P align="left" style="font-size: 10pt">Lakes Entertainment, Inc. currently has development and management agreements
with six separate Tribes for new casino operations in Michigan, California,
Texas and Oklahoma, a total of nine 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 &#147;WPTE&#148;), a separate publicly held media and
entertainment company principally engaged in the development, production and
marketing of gaming themed televised programming including the World Poker Tour
television series, the licensing and sale of branded products and the sale of
corporate sponsorships.


<P align="left" style="font-size: 10pt">Lakes Entertainment, Inc. common shares are traded on the Nasdaq National
Market under the trading symbol &#147;LACO&#148;.


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


<P align="left" style="font-size: 8pt">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,
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 Enterprise, Inc. (WPT)&nbsp;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>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>c93709lakes.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c93709lakes.gif
M1TE&.#EA*P&"`/<``/[^_CP\/)&1D4]/3_?W]Y^?G]O;VQ@8&!H:&EM;6UY>
M7E555?W]_;^_OQ04%%965E%1471T=!(2$K>WM_#P\'!P<#\_/[Z^OM;6UFQL
M;/S\_%)24E!04#T]/145%65E9:FIJ</#PUU=76%A8:NKJ_KZ^D5%1=34U)65
ME1,3$SL[.^CHZ&1D9):6EOO[^TI*2K*RLI.3D[FYN>/CXZ:FIJ&AH8^/CYF9
MF4)"0O3T]*ZNKHV-C7M[>S$Q,75U=<[.SEQ<7#X^/GQ\?("`@"@H*.KJZJ6E
MI5-34X:&AOCX^-S<W.?GY_+R\N'AX4U-36]O;WY^?L7%Q>SL[%145(Z.CDM+
M2_7U]1P<'.+BXO'Q\?GY^>3DY*^OK[&QL82$A)Z>GO;V]JRLK&9F9LK*RM_?
MW]W=W186%L3$Q)*2DG-S<]+2TN7EY;.SL_/S\]'1T4A(2.WM[86%A1<7%\_/
MSZBHJ"PL++:VMN;FYE=75ZJJJG]_?]#0T"(B(FEI:5E963`P,,S,S$%!04E)
M26MK:QL;&V)B8GAX>.GIZ5A86$!`0.OKZW=W=R8F)KN[N^#@X%I:6LG)R79V
M=LC(R'U]?2HJ*HN+B[6UM2LK*VYN;BDI*9R<G(>'AX*"@F!@8&AH:$Q,3-G9
MV2,C(T-#0X.#@VIJ:M[>WK2TM)24E,?'QV-C8QD9&=?7UZ.CH^[N[M75U:2D
MI"$A(1T='<;&QL'!P6=G9RXN+K"PL#0T-(&!@5]?7XB(B-/3TT9&1A`0$&UM
M;9"0D-K:VB0D))V=G2\O+XF)B<W-S9B8F#8V-N_O[YN;F[V]O=C8V')R<G%Q
M<7IZ>I>7EZ*BHB<G)SHZ.C<W-TY.3HJ*BJ"@H!\?'[BXN$='1R`@('EY>9J:
MFJ>GISDY.1X>'C,S,[JZNKR\O*VMK41$1"4E)8R,C#(R,C@X.#4U-<#`P,+"
MPBTM+<O+RQ$1$?___P``````````````````````````````````````````
M`````````````````````"'Y!```````+``````K`8(```C_`-\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW.E1`[0"0(,";0!`YR&A2(%:8B`2@(RD0;-<9"`.JM`)
M%5E9W<IUZQB0`(J8\H(H4"8^?&J]Z&,,`X.B&`D<<$>W+ET%<'%VL<N7+B4#
M30?TK0OL8JMH@^W&J8@@L>/'CGEX9"!)3P?(Y3)P21)W[F`%.Z%`=J=CI.#$
M@"L"\`0Y4!'&HV-#EKP1P!(QLNMZ&P,@KT2YB4'GU%!GM!#3CE-/!+!GM"V+
MC7-+MTL;(P`&)#Q/=P=%BV^(P#_K_R03^P%RU!49X(`,00OT[=NK7P30+`7\
MNDYF4`S?5SA.-K&%HH%(IPVFG$2L0.8`!A=%=Y]L\E4$AA\/VJ6"`=\UQ!]?
M_MU$3&P2`$)@<A2M80%DN608D8,5SH81`VFT:!<.;:BHT(9V=5@3`R/(AL2(
MZ$D$P"20$2(%1BS*F%B$0H:AI%TI1H1C73K2U,0?L@T`I($32:$*9$/8"%&2
M3_+%)$0`N.)!F77!(.9!4]Z54R/VQ?;-FQ<5V->!#XD`V30N9$0FFW2=^1`#
MJ1!*%RRO/12G.U7.9(-T982D)U]\-C2&!(\Y((Q&@[HC@0.DEFKJJ:BB"H5%
M;&@WF`0FX/]"QRR`0-(%,2]P^E@+>!+T:*0RT9*8-H.18"F)#P'`Q"?LP0%J
M8CA<T,"TU%9K[;76*F&1L(Y)\P43O87;6PXU]/"8"<XZ]&M.H@Q6QQ2#07!L
MD`_5,-H9O3H4Z@(Q,7&-8XBDFU`.B3@F`5;JNIHC3B6LV=<0/@P&"U,?76I7
MI@K=<0QD%>2K;V+\PI2,8Y10T&L9Y@[6"RX>KWL3%XGE\4IBI8!D<5T8)^1#
M+YUNP=&^,5&8F#@>%^#8$2TK3"5.OB1V`B"$#-:%QQ'=3%?.!XT1]6-(4-T0
MT"\!4$MBF0SH4!%R)-8#Q0RY;),@@SF010[M]L6)S<@R!$`5D&7_PD1'8+L$
M@,-]B>$U+XD%P_9";M/$P)=]@=,;"X/5@C>]"@$PRV@H>/TUR#`AX]@77@N1
M&`*.*BVG308DQD)OOR36A.<-6>T.U@,!`$8HD+U!.T.!LP3`"8ZAXG7L@R&0
M='`WM9!8`^\`H$QB8?R^D.VX"P3`,Y"9P8;U"@7/$B".0>(U%B&DKW[Z42PO
MGDU'R"Y0$[KRQ0GX"6'/$`:0.S8(9QX1WTK(EQ@:X&\BC9.)!F`QF"L$ZATE
MP%)?$''`@^A/(2ZH`&3DL(<*'D2`*0&`&AR#"0^"1W60J@D`FI"8;,!E2(.A
M1*4Z<D&$`*`+A$O,#DQH$!"F9`F."8;9_TZ2P)AL;C!I>.$X$@,#C]3P(``P
M`61483*0^#`E=1I,.'BH(10"RR63&HPU"+**Q.C!B7D["`I&HPDN%N2*)P&`
M!`?S!T6X\49>5*$4^V(&9/BJ?W8Q#PW32!``P(&!C^F`!NXX$#B>I$>.84$K
M&`FG/-)$$3FLRQ]\`P`5Q-"-3\P=``P!F138@9("<61)`-"-QTB`%&!`I:\L
M*1,`2"(Q?N!DQ/HB`0QP,93:`T7]$H,'DJBR)!JX!&1PX`A9"J2(+T&#&0V"
MBL3H8I"8&P@#W@"9*T3!F*"+B1=&DP)BQ%(DT'1)!JA7$`"T(HMVF<(O"1D]
M.HQ&#XNS8CAALO^%:<2F%L9X"TC2R1(X!&$PL9B#00!`A,%<(I]Y(B0`UG"9
MQQ!B!LY\AP!S0(,6>/2C(&T!--P(`"?)Q@(@2,(="3K`*PS&!%98:/QXJ9^-
MA!(`HQB-%TPBP!G,,3%$(&D2GI";%(S@`KWA"$M5PHW$T")#`'!&8DYI4T)N
M(1:0881[2M+3E#F&""#10-URTXDU*)66,='@8-"@(D@D!FE5Q1P`G#":/)RD
MJY`!*TB28+O$."`-.?#@4E/"S<$@=:$,^%=?0E&"N'))>Y88YF`VD-%&[G,@
M,_`J4$,"`"M$`(6..<8-&GN1P9XDL8EIU$'X-AA'.'9/`\G!V!X3"QG_H`2O
MC]%K2*SP#)=*QP.D4.U^T/J2,20F%F+"1&(F8,(:-F`T"Q@B5R\KD,SFE23#
M.\=V&+$,\)G6)#Q(C!/$U-3!=$TC-=0")2#C@:G=E;KOL&YN35*"28`V,1[X
MWG"9)Q-X#>848CI#)NF2B>:FL3F0D49E4PE?^7[UM&08Q'0\H(O??;<DY7":
MF"APHL'X+"-/!(#0N/;>P82,(`[>+$H8<($C2/8Q'NC<;X@KO"+`LRYRRYP"
M$B,##X9X&8AT3"B.-%T3&T0*OGB`DI?,Y`=X8L':`T`2ON"-%R?F"H<](7]A
M8M*^'.--`#!'8N+@8XER8C2/$.A(!)C4S$&Y_Y`N8(4R8R.'.WCMPB-)U&"*
MF3E3)$:>(*8G'`H&&?.!T\@\:6<2<#'@/4,4CUL67"82<]Z$```8B;E$S3`"
MS)*.Y@$Y.'1?3ISH0KJ!6:.Q@Y;?]Q)%W)@N$I`%0]2;F.=PFI[O<$$"2HD&
M4?.%U*4F2!MBL#7'4(,"J8NT\%#!L[Y<@;0+:49B6';K;&I/39#I01O6#-]@
M:T\&?("Q)9+-ZI8`8&0O=4B"!I/+:C]VH=*&S!-D><R=V))WCF&&^_H#$P`4
M(C$1R)<;$L.("@)3>SD(=Z>4@,IZVWL"6%7;HRNI[)4P(6W_=4@.&BT!-[@;
MMC:TQFC0,7%!==O;VO\4@,%FV#8:JP3!?(2>0]"1F$T<\.#:1/5CN$!)A_-$
M"HA)S#,25O$0TB`QPVC"0TB!RYOC.G<P\*UCP"'<GYT<Y=JKA&,B0/1RKP0`
MIAM,`J@FB\34P>G6;F>,('._C_B<)P-/S`/RA>>/$`!N@X$"U59@97=\N"(X
MSUT3&FT70H3@CF_O2)L7.A$-$'X`='=Y'$^@\+Z`@&H`(-9@&A'1M+?37I"9
M>P"OOLI)<.#TJ#_](&@'`$:(-_)%CZ,1'--!B'"`F/@+?.ZLX$]7UL"-B>\(
M71VZG(8.Q@E=Y[>YAX!?`D1D[7TA@G0EHOO<7:#O=1E&3*V.Z)8,OR^$H!W_
M`RK/%VK`WNLA]&]?3.`Y`"7F[Q.I/D%8^QB]<W_4@H.`8_`5D22\FBZ4U46Q
M9Q(`4!R#\0N>XP)FD!CA8!'R-Q!8\`VEQ'`;$7RUP1H`YSFWE!BK)X#H%T=K
MX!B-X#E15'/@\X#:DU.0P0'3]Q[=]W4J9W:+IS>XX!@QD'P<8FX[X!B'0#M]
MD!BW<()/AQ!+0&B/H0,F9($:`0`3\!AT0#6.('5\(0&@@(,+(SR=<&44@3R\
M5'40@8+:,S.080)W\"PON!*E\!C1L`0.D012)8-6N#3"<PN)4044<7V)P7D4
M`88"H0$Z%QDE-R:DMTJNYQBB4`1XP@!GYC_[QA<B_W!'@3@0!$!XE1812Y`.
MB5$-UL.'`K$*V$<7"+`")C<8@)81,^@0`!`'">8&:E9(#&`%NV8P^N6!?9$)
M"7"+N)B+NKB+O(B+;*`W9^`8"K4<>)`8%+2'0VAID3`:'%!!H<((O1B-TI@`
M-Q@1RK*`CR$'A>!+X@(`CK`(FN<8GQ!J<:@H=F$#>D-*<8-L%*&"??$'6(",
MGK<0K6!\CI$"IG!`H4(H([`<$1`;*7`+#U`(J;``MX"-D&$)5/,HYN@.Z+@0
MG:0V%@$"B7$P\OAN$:&*D%$'?^."#5D7_3@113`,#?D`6U6.'_F0"J$%&-<7
M4V`1N^`8/Q)_R:@0BK`>D/_Q*1[YD>X0DA/Q"@A9)@@0CZO&D^?($'$W&#M5
M$3F`0H](D_/($&S0;([A`62PDQ_IDT*R"8J"#9[#D.:HDC:4!XXA<Q0!`!^0
M:9&($)Q82+DP&F)PDA*QCVRBE=98`J+Q)"E@!+0#EHHBEE"TC`TDEQ.A"8F1
M`JL`E1@I$4K0DHDA!P9$$719)G8I$2[@!80G'7Q0`*=(BT9)%X!I$"5`DH,1
M!!@1`HXA`(H)<F>ICH\1"-"V(I_9DQBA`3<0#!7"#J;0@BC9D*%9$&F8&!F`
M$4O0=T]9-37)$#F`FY"Q`Y(YFY5)$2=P>]LA`5.`B!7AEX3RFP2A`S9H'=KE
M+FO_:1!M:1`P\(GN<`#P]Q"3^23161%-$`G_-QAF$`%7>1$N@`("L)_\V9_^
M^9\`&J#]*2(*40P!B@;9TQ``H`,!&@.QJ:!Z``$2.J$3:E93X0,<0*$:"@$<
MX)P2T0("&J(B"J"J5ALK]`5B<`ROY@"WD`K08&<>]&9XTIG:8XHJ0J-N9FG6
M@:.YLQRKY!'AL@(A4`,V4`W$8`.LL`XPBG5,VJ1.^J10&J52.J546J56>J58
MFJ5:NJ5<VJ5>^J5@&J9B.J9D6J9F>J9HFJ9JNJ9LVJ9N^J9P&J=R.J=T6J=V
M>J=XFJ=ZNJ=\VJ=^2A,\RJ-J&BY^FE1OAB:K@`**NJB,_^I'5.I&2G`*'M>G
M`,`%*``&.3$!`;"IG-JI2K>$NW`&SK<2<X`*'7$!`6`L8EH&9R`5&)$!`<".
M-Z&I5?`$MGJK3U`!A\`1S-`!HK@28F"''(&JJAJF:-`!)Y`1L"JK-J&I7$<2
M%1``OZH2'_`"0$JF`A``R?JJL9JI`>`#0E(4W6AI`!"M*P!FX^IFAGJC[\`"
MUAJHXBJHT2.OA$JHY#JOW2@N>J.O"AJOF?,.V7H"\LH0RPI%\RI*Y&JO&:&I
MX(HFR:":-:``4[`-;(@06+`#&Q``H]`%"E$"(,`"$"`&Q6I#.V`).3`$1U"&
M!K$$.^`$@;`#W6`CS+$(B+`!F/^@#&\""COP`PE1##M0#&10`2%;/0JA`S?0
M"K;0"4>@"XK``#0@`G@0!]MG:640!XAP!(;`<@AA!#O0!EV0"T>P"%6($%+P
M#+D0`#Q@#9AJ$06[LCMP!BL@!`L@`C?P0`M%`GT``2/`!>/9$`PK$1L0"$@0
M`$'0`0$``6N@(C^@`ISJ#`E!`9.PJ180`!U@`V\2`-L0`0&@`D19$!C0J9Y@
M0V.``QWP`E6PJ9&)$,2:$""@L6\0`),;`*23$!$P`)5`N)O*`]P`NYM*"H%8
M#$Z@`AU@N!OP`V+R`0%0#4%0N`&P`:Z`$&3P"9PJ`LPZ$6WKN0%0"0O`NP&P
M"1#%`%[_(+F;^@5]NQ!_&Q$;$`06L`DA(`,9^X0'<0AY\`BR^TT(00=!4`5A
M(`F:4`4XL*L)$0#4T`&8(`".6A!PD`='0`YYD&7M-`(!H`G`8`#=8`$)H`@)
ML;H(T;JB<`26(`M>T`$#P)L"$0$X8`*1$`(Z8`(X8`&&$`4@,`!!4%,'H0$0
M7`&S,`L^$`"&4'+(:P+;$`7*0+\QH")9``.PB@8R`$`5<;T$\;E5\`(@@`I?
MT`$60,/:\P/-2P>0(`P6``'W>1&:.@!#4,9F/`0.;!`9:PAP$0(!X`5B8JZ6
M5@@68+^5&@"GH!";&B8+X:X*D04=``1LTP<=,(P'H<$'T;J)_S"V8$`+`0#`
M!Z&Y(R"N0A``#S`@`'`*`6!K![$,`8`)V_8./&(!KGH0R)L&:^O&%5!R`:NL
MW6H0GQL`(2`0#("\LUQ(T:J'[U#)8;"PG?K+PB`F&6O(;1``BQ#'TIH04A``
M'3,04A`$"R`F`2`(!(`GU:H0%(`"DO!".\RSJINJK!L`D?!"NA``RT"[`?`*
MVD,%`5#$T6,'`5`#"2$$*I!E`%```4`#"8&\7DG+V?`!8M+*W%J]`O&Y@B!0
M`(`"`=!$!+$"`6`"T!8%*E"-8AP`"6`$&)W11N`&POS*$!0``9<0<HP07!``
MJID[>!`$Y'@0`3`(#7'-F?,6`%`*=/]@`@'@S8<,SAL<`):K/3$0``R"$!&@
M`K?\#NQ<H@#0`/%L0PF@`C0,`.H0`#-IRMKZ0@/``@HAT!?AQ`/QN:1`$"2P
MT(6TN$_5HQYTOA"1L7GA`B"M$"-]$"WPT*G'`8GPR`%<`2]MK98F!96@`#;-
MJ3AM$(AL$*UK#`3QTT$=R84\$.QL6P*AU/(,1:_K!*GW`@'@N`B!O`=RU5FM
MK:Y,T._PN8O0G6)-$,J@`D,`$FC]$!E+$&S]K`CQU@;!SF_09$HVK0;!S'FM
M$&#0!["+")&0#*EPTQFLTXD<`#=PV$!-NQ:@!HP=`([]#I"=$.00`$=@VU-M
M$,BK+0/!V0G_H=5LZ]%/'`#',1`Z4-H#H:F+\1&K[1"M/1"O[=;)C!#&$`!L
M!1&ZS1`P#46H.@(5^PZ:&]@%,=@%T;K)/1"(S=S.+1"-/1#3#466K;(.L=T$
MX=T(`=Y-+-Y=3=ZDS=#:H]1I0!`:0``/2A'MW1#O+1#Q+=+SG=-M1\L3``,E
M/A#YO1#[O5!QW0X$X0O$_<TC6^#(K=R);1`1T-S/'=T/?A`07'O1@P5<(.`$
M0>'=C=7?[=D#?1"?6]X"<=X>'CVNT+QY$046@`*^#-N%U-&NW=8V)-L%D00X
ML`$N(*X&$`"/(,UXS1`L(`B6M@,J8,A,8--0/A`$3A`&+N0*?N0._[[4"*$)
MLOM".Q``X[#/`<#=`F'A!Y&MNR`F"IL07%W0'&[>Z"T05H`#,RRN>J`"I6'6
MGJ.ICT`#KO[J-&`$8:S&`9#F9MY.BP#=_]U.4!``4(`%#*`&F!``)8H0-:X0
M?8`#8[">V@,"*H`$5J`!)P"K`2`+=CO@QDW808[@RRW41L[@T)WHD7T04L`+
M3@`#.6`%ML`+&S"J5$WI[V#I!G$#`4`'34#"7#``AD(0G1[:G[[EH1X]]#X)
MCE`"#8`#4]"Y[S`&`S!V$:&IO\RI*A#=M$X0)0#2,DOOB;"4!^$*VPL!@R`(
M`<`",SX0*G#G"Z$'`1`(2;10CA`(`2`&3__P!F\`JX\@"RHRZ`-1Z-P^Y`51
MY`MNU.'^V(H.13=@Q850"!V``Y>7$"PPZ15.Y0BAJ4'0!Z5<$#00`,.9.?V>
MY:3-L84$!Q!PN)XPN:_@&V<PS=88`B+0]F[O]D!@OPOU!")@\4!0"3*[!4!@
M`N9@::O0"9N:",P0R@C!`$!@<PPQ!PG`"_:W4!.0#93;"60`#`-@`8=W$)``
M!!1?$-@@`GGP0D8`!%I;$)70"6/[#M`0]P,Q!D``]C:D"2_`N"_@)@H!!4#0
MN0#@"XU_$&T@!B;0#!W93J:P`5MO:7$`!,&?.TH@`KTV$(T`!&:9.XJ@]`&`
M`S?0BN_P`T#P9+6D(23S$3T4L`;N#I%H8FD:L`12D:X&6_YH\CL:<`=%(-/6
MB(J69@?,0/_MY#6]P01K`!`:W@TD2!!`080)%2YDV-#A0X@1)4ZD6-'B18P4
MDR!ID='C1Y`A18XD6=)D20`3_*PXV=+E2Y@Q9<Y\N*O,09HY=>[DV=/G3Z!!
KA0XE6M3H4:1)E2YEVM3I4ZA1I4ZE6M7J5:Q9M6[EVM7K5[!AQ8X5&A``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
