| Business Summary | | Lakes
Gaming,
Inc.
(Lakes)
develops,
constructs
and
manages
casinos,
and
related
hotel
and
entertainment
facilities
in
emerging
and
established
gaming
jurisdictions.
The
Company's
revenues
are
derived
almost
exclusively
from
management
fees.
As
of
December
31,
2000,
Lakes
managed
Grand
Casino
Coushatta
in
Kinder,
Louisiana,
which
is
owned
by
the
Coushatta
Tribe
of
Louisiana.
At
the
same
date,
the
Company
had
entered
into
development
and
management
agreements
with
three
separate
tribes
for
three
new
casino
operations,
one
in
Michigan
and
two
in
California.
The
Company
also
had
agreements
for
the
development
of
at
least
one
casino
facility
on
Indian
land
in
California,
through
a
joint
venture,
and
had
entered
into
a
joint-venture
agreement
for
the
development
of
land
on
the
Las
Vegas
Strip. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Lakes
Gaming,
Inc.
is
a
casino
management
company
formed
through
the
distribution
to
shareholders
of
Grand
Casinos,
Inc.,
effected
in
December
1998.
For
the
26
weeks
ended
7/1/01,
revenues
decreased
55%
to
$18.8
million.
Net
income
decreased
18%
to
$8.9
million.
Revenues
reflect
a
decrease
in
management
fee
income
attributable
to
the
early
buyout
of
the
management
contract
for
Grand
Casino
Avoyelles.
Earnings
were
partially
offset
by
lower
depreciation
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Lyle Berman, 59 Chairman,
Pres, CEO | $431K | Timothy Cope, 49 CFO,
Exec. VP, Sec. | 324K | Joseph Galvin, 61 COO | 302K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|