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  September 5, 2001
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Home > Company Index > Leisure > Gambling Resorts & Casinos > Lakes Gaming, Inc.

Lakes Gaming, Inc.
Nasdaq: LACO
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 PROFILE
Even though Lakes Gaming doesn't own a casino, it still keeps its eye on the slots. The company manages the Grand Casino Coushatta (owned by the Coushatta Tribe in Louisiana). Opened in 1995, the casino features a child-care center run by New Horizon Kids Quest (27%-owned by Lakes Gaming). Lakes Gaming keeps 40% of the casino's profits but its contract to operate the facility expires in early 2002 and will not be renewed. It also is developing a new casino in Michigan and two in California. In 2000 the Tunica-Biloxi Tribe bought out Lakes' management contract of the Grand Casino Avoyelles. The company's gambles in other lines of business, including Internet gaming and life insurance ventures, didn't pay and it has since written them off.

 COMPETITION
Casino Magic Corp. (dossier)
Harrah's Entertainment, Inc. (HET)
Isle of Capri Casinos, Inc. (ISLE)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 59.00
1-Yr. Sales Growth: 7.9%
Employees: 30
Revenue per employee: $1,966,666.67

 KEY PEOPLE
• Lyle Berman
    CEO
• Timothy J. Cope
    CFO

 CONTACT INFO
130 Cheshire Ln.
Minnetonka, MN 55305
US
Phone: 952-449-9092
Fax: 952-449-9353
Online: Web Site

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