Lakes Entertainment, Inc. Posts an Updated Investor Presentation to Its Corporate Website
May 13 2005 - 7:00AM
Business Wire
Lakes Entertainment, Inc. (Nasdaq:LACOE). Lakes Entertainment, Inc.
announced today that the Company has posted an updated investor
presentation to its corporate website. Included in this
presentation is an update on Lakes' various casino projects, an
updated business overview, including an unaudited cash position as
of March 31, 2005, and an outline of the Company's 2005 strategic
objectives. Interested parties may view the investor presentation
at www.lakesentertainment.com. About Lakes Entertainment Lakes
Entertainment, Inc. currently has development and management
agreements with six separate Tribes for new casino operations in
Michigan, California, Texas and Oklahoma, a total of nine separate
casino sites. In addition, Lakes has announced plans to develop a
company owned casino resort project in Vicksburg, Mississippi. The
Company also owns approximately 64% of WPT Enterprises, Inc.
(Nasdaq "WPTE"), a separate publicly held media and entertainment
company principally engaged in the development, production and
marketing of gaming themed televised programming including the
World Poker Tour television series, the licensing and sale of
branded products and the sale of corporate sponsorships. The
Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information
included in this press release (as well as information included in
oral statements or other written statements made or to be made by
Lakes Entertainment, Inc.) contains statements that are
forward-looking, such as statements relating to plans for future
expansion and other business development activities as well as
other capital spending, financing sources and the effects of
regulation (including gaming and tax regulation) and competition.
Such forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results
in the future and, accordingly, such results may differ from those
expressed in any forward-looking statements made by or on behalf of
the Company. These risks and uncertainties include, but are not
limited to, SEC staff comments that question various aspects of
Lakes' financial statements, which comments have not yet been
resolved; possible delays in completion of Lakes' casino projects,
including various regulatory approvals and numerous other
conditions which must be satisfied before completion of these
projects; possible termination or adverse modification of
management contracts; highly competitive industry; possible changes
in regulations; reliance on continued positive relationships with
Indian tribes and repayment of amounts owed to Lakes by Indian
tribes; possible need for future financing to meet Lakes' expansion
goals; risks of entry into new businesses; reliance on Lakes'
management; the fact that the WPT shares held by Lakes are
currently not liquid assets, and there is no assurance that Lakes
will be able to realize value from these holdings equal to the
current or future market value of WPT common stock; and the
possibility that the Company's shares may be delisted from the
Nasdaq Stock Market, following a hearing and consideration by
Nasdaq, due to the Company's failure to file its Form 10-K for the
year ended January 2, 2005 on a timely basis. There are also risks
and uncertainties relating to WPT that may have a material effect
on the Company's consolidated results of operations or the market
value of the WPT shares held by the Company, including WPT's
significant dependence on the Travel Channel as a source of
revenue; the potential that WPT's television programming will fail
to maintain a sufficient audience; the risk that competitors with
greater financial resources or marketplace presence might develop
television programming that would directly compete with WPT's
television programming; the risk that WPT may not be able to
protect its entertainment concepts, current and future brands and
other intellectual property rights; risks associated with future
expansion into new or complementary businesses; the termination or
impairment of WPT's relationships with key licensing and strategic
partners; and WPT's dependence on its senior management team. For
more information, review the Company's filings with the Securities
and Exchange Commission.
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