Lakes Entertainment, Inc. develops, finances, manages, and owns casino properties. Rocky Gap Casino Resort The company owns and operates the Rocky Gap Casino Resort in Allegany County, Maryland. The resort includes a hotel, convention center, spa, two restaurants and the only Jack Nicklaus signature golf course in Maryland. Its gaming facility features 577 video lottery terminals (VLTs), 15 table games, 2 poker tables, a casino bar and a lobby food and beverage outlet. The resort also includes an event and conference center, which is able to accommodate large groups and features flexible use meeting rooms. Rock Ohio Ventures, LLC As of December 28, 2014, the company had a 10% ownership investment in Rock Ohio Ventures, LLC (Rock Ohio Ventures), a privately-held company, that owned 80% of each of the Horseshoe Casino Cleveland in Cleveland, Ohio; the Horseshoe Casino Cincinnati in Cincinnati, Ohio; the Thistledown Racino in North Randall, Ohio; and Turfway Park, a thoroughbred horseracing track located in Florence, Kentucky. As of January 25, 2015, the company sold its investment in Rock Ohio Ventures to DG Ohio Ventures, LLC. Dania Entertainment Holdings, LLC The company had an investment in Dania Entertainment Holdings, LLC (DEH) that maintained an ownership interest in Dania Entertainment Center, LLC (DEC), which owns and operates the Dania Casino and Jai Alai in Dania Beach, Florida. Indian Casino Business Development and Management of the Red Hawk Casino: The company developed and had a seven-year contract to manage the Red Hawk Casino that was built on the Rancheria of the Shingle Springs Tribe in El Dorado County, California, adjacent to U.S. Highway 50, approximately 30 miles east of Sacramento, California. In 2012, the company entered into a 10-year option agreement with Penn National Gaming, Inc. (Penn National) that grants Penn National the right to purchase approximately 98 acres of land which the company owns adjacent to the Jamul Indian Village’s trust land. Regulations The company and its subsidiaries are subject to certain federal, state, and local safety and health laws, regulations and ordinances that apply to non-gaming businesses generally, such as the Clean Air Act, Clean Water Act, Occupational Safety and Health Act, Resource Conservation Recovery Act and the Comprehensive Environmental Response, Compensation and Liability Act. History The company, a Minnesota corporation, was founded in 1998. It was formerly known as GCI Lakes, Inc. and changed its name to Lakes Gaming, Inc. in August 1998. Further, the company changed its name to Lakes Entertainment, Inc. in 2002.
lakes entertainment inc (LACO:NASDAQ GM)
130 Cheshire Lane
Minnetonka, MN 55305
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