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Note 3. Debt Termination Agreement with the Shingle Springs Tribe
3 Months Ended
Mar. 30, 2014
Receivables [Abstract]  
Financing Receivables [Text Block]

3.  Debt Termination Agreement with the Shingle Springs Tribe


On July 17, 2013, Lakes entered into a Debt Termination Agreement (the “Debt Termination Agreement”) with the Shingle Springs Band of Miwok Indians (the “Shingle Springs Tribe”) relating to amounts Lakes had previously advanced to the Shingle Springs Tribe under the development and management agreement for the Red Hawk Casino between Lakes and the Shingle Springs Tribe. The Debt Termination Agreement required certain conditions to be met, including a lump sum payment by the Shingle Springs Tribe to Lakes of $57.1 million (the “Debt Payment”). The Debt Payment was made on August 29, 2013 (the “Payment Date”) and constituted full and final payment of all debt owed to Lakes as of that date. The management agreement under which Lakes was managing the Red Hawk Casino also terminated on the Payment Date, therefore no fees for the management of the Red Hawk Casino will be earned subsequent to that date.