Exhibit 4.2

LAIKES Entertainment, Inc. INCORPORATED UNDER THE LAWS OF THE STATE OF MINNESOTA SEE REVERSE SIDE FOR CERTAIN DEFINITIONS CUSIP 51206P 109 THIS CERTIFIES THAT is the owner of SHARES OF FULLY PAID AND NON-ASSESSABLE COMMON STOCK, PAR VALUE $.01 PER SHARE, OF LAKES ENTERTAINMENT, INC. transferable on the books of the Corporation by the hoidel’ hereo{ in person or by duly auth orized attorney upon surrender of this certificate properly endorsed. This certificate is not valid unless countersigned by the Transfer Agent and Registrar. WITNESS the facsimile signatures of the Corporation’s duly authorized officers. Dated:

This certificate also evidences and entities the holder hereof to certain Rights as set forth in the Rights Agreement between Lakes Entertainment, Inc. and Wells Fargo Bank Minnesota, N.A., National Association dated as of May 12, 2000 (the “Rights Agreement”), the terms of which are hereby incorporated herein by reference and a copy of which is on file at the principal offices of Lakes Entertainment, Inc. Under certain circumstances, as set forth In the Rights Agreement, such Rights will be evidenced by separate certificates and will no longer be evidenced by this certificate. Lakes Entertelnment, Inc. will mall to the holder of this certificate a copy of the Rights Agreement without charge promptly after receipt of a written request therefor. Under certain circumstances, Rights Issued to, or held by, Acquiring Persons, or Affiliates or Associates thereof (as such terms are defined In the Rights Agreement) and any subsequent holder of such Rights may become null and void. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: UTMA — Custodian ..,.,.,.,...-,...___TEN C. as tenants in common -“7(C=“u-s“t):— (Minor) TEN as tenants by entireties under Uniform Transfer to Minors JT TEN — as joint tenants with right of survivorship and not as tenants in common Act (State) Additional abbreviations may also be used though not in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE PLEASE PRINT OR TYP~EWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE
NOTICE: THE SIGNATURE lOTHIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE QFTHE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATIQN OR ENLARGEMENT OR ANY CHANGE WHATEVER SIGNATURE GUARANTEED ALL GUARANTEES MUST BE MADE BY A FINANCIAL INSTITUTION (SUCH AS A BANK OR BROKER) WHICH IS A PARTICIPANT IN THE SECURITIES TRANSFER AGENTS MEDALLION PROGRAM (“STAMP”). THE NEW YORK STOCK EXCHANGE INC MEDALLION SIGNATURE PROGRAM (“MSP”), OR THE STOCK EXCHANGES MEDALLION PROGRAM (“SEMP”) AND MUST NOT BE DATED GUARANTEES BY A NOTARY PUBLIC ARE NOT ACCEPTABLE