Investment in Evitts Resort, LLC and Development Services and Management Agreement	9 Months Ended
Oct. 02, 2011
Investment in Evitts Resort, LLC and Development Services and Management Agreement [Abstract]
Investment in Evitts Resort, LLC and Development Services and Management Agreement	3. Investment in Evitts Resort, LLC and Development Services and Management Agreement On September 22, 2011, Lakes entered into a joint venture with Addy Entertainment, LLC to form Evitts Resort, LLC (“Joint Venture”), which submitted a response to a request for proposal by the State of Maryland Video Lottery Facility Location Commission (“Commission”) for a video lottery operation license (“License”) in Allegany County, Maryland. The Commission will evaluate applications and award the License to operate a video lottery operation at the Rocky Gap Lodge & Golf Resort in Cumberland, Maryland (“the Resort”). The License has an initial term of 15 years and is expected to be awarded in late 2011. Lakes made an initial investment of approximately $2.1 million (“Initial Investment”) in the Joint Venture which was used to fund the application fee for its response to the request for proposal. The Initial Investment represents a majority ownership interest in the Joint Venture and as a result, the financial position and results of operations of the Joint Venture are included in the Company’s consolidated financial statements as of October 2, 2011. The Initial Investment will be returned by the Commission if the License is not awarded to the Joint Venture. If the Commission awards the License to the Joint Venture, under the Joint Venture agreement, Lakes must invest an additional $7.9 million and will continue to be the majority owner of the Joint Venture. The Joint Venture will be required to raise additional funds to fully finance the development. Also on September 22, 2011, Lakes entered into a Development Services and Management Agreement (“Maryland Management Agreement”) with the Joint Venture, to develop and manage the gaming facility and existing facilities at the Resort. If the Joint Venture is awarded the License, as compensation for its services under the Maryland Management Agreement, Lakes will receive a monthly fee equal to two percent (2%) of total revenues, plus a monthly incentive fee equal to five percent (5%) of earnings before interest, taxes, depreciation, and amortization (“EBITDA”).

Investment in Evitts Resort, LLC and Development Services and Management Agreement

9 Months Ended

Oct. 02, 2011

Investment in Evitts Resort, LLC and Development Services and Management Agreement [Abstract]

Investment in Evitts Resort, LLC and Development Services and Management Agreement

3. Investment in Evitts Resort, LLC and Development Services and Management Agreement

On September 22, 2011, Lakes entered into a joint venture with Addy Entertainment, LLC to form Evitts Resort, LLC (“Joint Venture”), which submitted a response to a request for proposal by the State of Maryland Video Lottery Facility Location Commission (“Commission”) for a video lottery operation license (“License”) in Allegany County, Maryland. The Commission will evaluate applications and award the License to operate a video lottery operation at the Rocky Gap Lodge & Golf Resort in Cumberland, Maryland (“the Resort”). The License has an initial term of 15 years and is expected to be awarded in late 2011. Lakes made an initial investment of approximately $2.1 million (“Initial Investment”) in the Joint Venture which was used to fund the application fee for its response to the request for proposal. The Initial Investment represents a majority ownership interest in the Joint Venture and as a result, the financial position and results of operations of the Joint Venture are included in the Company’s consolidated financial statements as of October 2, 2011. The Initial Investment will be returned by the Commission if the License is not awarded to the Joint Venture. If the Commission awards the License to the Joint Venture, under the Joint Venture agreement, Lakes must invest an additional $7.9 million and will continue to be the majority owner of the Joint Venture. The Joint Venture will be required to raise additional funds to fully finance the development.

Also on September 22, 2011, Lakes entered into a Development Services and Management Agreement (“Maryland Management Agreement”) with the Joint Venture, to develop and manage the gaming facility and existing facilities at the Resort. If the Joint Venture is awarded the License, as compensation for its services under the Maryland Management Agreement, Lakes will receive a monthly fee equal to two percent (2%) of total revenues, plus a monthly incentive fee equal to five percent (5%) of earnings before interest, taxes, depreciation, and amortization (“EBITDA”).