-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S8ootxfsfHzZhdj1X5LsrKe8RFqefSJAKGCOXpZz8ciobEOrX+rVKZIMENXDeG44 8WcWFw7jgQ3qZ4wC0i5wCw== 0000950159-07-000192.txt : 20070214 0000950159-07-000192.hdr.sgml : 20070214 20070214142730 ACCESSION NUMBER: 0000950159-07-000192 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070214 DATE AS OF CHANGE: 20070214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LAKES ENTERTAINMENT INC CENTRAL INDEX KEY: 0001071255 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 411913991 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-54993 FILM NUMBER: 07618341 BUSINESS ADDRESS: STREET 1: 130 CHESHIERE LANE CITY: MINNETONKA STATE: MN ZIP: 55305 BUSINESS PHONE: 6124499092 MAIL ADDRESS: STREET 1: 130 CHESHIRE LANE CITY: MINNETONKA STATE: MN ZIP: 55305 FORMER COMPANY: FORMER CONFORMED NAME: LAKES GAMING INC DATE OF NAME CHANGE: 19980929 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DREMAN VALUE MANAGEMENT L L C CENTRAL INDEX KEY: 0001055282 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 BUSINESS PHONE: 2017932000 MAIL ADDRESS: STREET 1: 10 EXCHANGE PLACE CITY: JERSEY CITY STATE: NJ ZIP: 07203 SC 13G/A 1 lakes13ga.htm LAKES DREMAN 13GA Lakes Dreman 13GA

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)*
 
Lakes Entertainment Inc. (LACO)
------------------------------------------------------------------------------------------------------------
(Name of Issuer)

Common Stock, no par value
------------------------------------------------------------------------------------------------------------
(Title of Class of Securities)

51206P109
------------------------------------------------------------------------------------------------------------
(CUSIP Number)

April 4, 2006
------------------------------------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[X]  Rule 13d-1(b)
 
[  ]  Rule 13d-1(c)
 
[  ]  Rule 13d-1(d)
 
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No.
 
                                                 
 
 
1
 
 
NAME OF REPORTING PERSON  Dreman Value Management, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 22-3499132
 
 
2
 
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (a) [  ]              (b) [  ]
 
 
3
 
 
SEC USE ONLY
 
 
4
 
 
CITIZENSHIP OR PLACE OF ORGANIZATION    Delaware
 

 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
 
 
5
 
 
SOLE VOTING POWER
 
1,415,200
 
6
 
 
SHARED VOTING POWER
 
N/A
 
7
 
 
SOLE DISPOSITIVE POWER
 
1,415,200
 
8
 
 
SHARED DISPOSITIVE POWER
 
N/A

 
9
 
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,415,200
 
10
 
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)         N/A
 
11
 
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.18%
 
12
 
 
TYPE OF REPORTING PERSON
 
IA
 
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Item 1  (a).            
Name of Issuer:
 
          Lakes Entertainment Inc. (LACO)
 
tem 1(b). Address of Issuer’s Principal Executive Offices:
130 CHESHIERE LANE
MINNETONKA, MINNESOTA 55305
 
Item 2  
(a).Names of Persons Filing:
 
           Dreman Value Management, LLC
 
Item 2(b). Address of Principal Business Office or, if None, Residence:  Harborside Financial Center, Plaza 10, Suite 800, Jersey City, NJ 07311

Item 2(c). Citizenship.   Delaware
 
Item 2(d). Title of Class of Securities:  Common Stock, no par value
 
Item 2(e). CUSIP Number:  51206P109
 
 
 
-3-
 
Item 3.                  
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
 
(a) ¨ Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);

(b) ¨ Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);

(c) ¨ Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);

(d) ¨ Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e) þ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) ¨ A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).
 
Item 4.                  
Ownership.*
 
               (a) Amount Beneficially Owned:  1,415,200
 
(b) Percent of Class:  6.18%
 
(c) Number of shares as to which such person has:
 
(i) Sole power to vote or to direct the vote:  1,415,200
 
(ii) Shared power to vote or to direct the vote:  N/A
 
(iii) Sole power to dispose or to direct the disposition of:  1,415,200
 
 
-4-
 
(iv) Shared power to dispose or to direct the disposition of:  N/A
 
Item 5.  
Ownership of Five Percent or Less of a Class.
 
       N/A
 
Item 6.  
Ownership of More Than Five Percent on Behalf of Another Person.
 
If this statement is being filed to report the fact that as of the date hereof, the reporting person is the beneficial owner of more than five percent of the class of securities, check the following [X].
 
 
Item 7.  
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
 
        N/A
 
Item 8.  
Identification and Classification of Members of the Group.
 
        N/A
 
Item 9.  
Notice of Dissolution of Group.
 
        N/A
 
Item 10.  Certifications.
 
By signing below, each of the undersigned certifies that, to the best of his or her knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 

-5-

 


 
SIGNATURES
 
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
 

 
Date: February 13, 2007
  
 
Dreman Value Management, LLC
/s/ Salvatore Faia
Chief Compliance Officer
   


Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)
 
 
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