-----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, LhNyThWC8FlWIK7SOYYXgRqgKEdUgHrwBqTf0piQKiAD97Fcb48UG4SWyBUqeskr z/xXEjIZW9wNOmIOWSbNXQ== 0000950134-04-006581.txt : 20040504 0000950134-04-006581.hdr.sgml : 20040504 20040504164651 ACCESSION NUMBER: 0000950134-04-006581 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040503 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040504 FILER: 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24993 FILM NUMBER: 04778278 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 8-K 1 c85182e8vk.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 3, 2004 LAKES ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) MINNESOTA 0-24993 41-1913991 (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 130 CHESHIRE LANE, MINNETONKA, MINNESOTA 55305 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (952) 449-9092 NOT APPLICABLE (Former name or former address, if changed since last report) ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits 99.1 Lakes Entertainment, Inc. Press Release dated May 3, 2004. 99.2 Lakes Entertainment, Inc. Press Release dated May 4, 2004. ITEM 9. REGULATION FD DISCLOSURE On May 3, 2004 and May 4, 2004, Lakes Entertainment, Inc. issued press releases. A copy of each press release is attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Form 8-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. LAKES ENTERTAINMENT, INC. (Registrant) Date: May 4, 2004 By: /s/Timothy J. Cope --------------------------------- Name: Timothy J. Cope Title: President and Chief Financial Officer EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.1 Press Release dated May 3, 2004. 99.2 Press Release dated May 4, 2004. EX-99.1 2 c85182exv99w1.txt PRESS RELEASE DATED MAY 3, 2004 EXHIBIT 99.1 NEWS RELEASE LAKES ENTERTAINMENT, INC. [LAKES ENTERTAINMENT, INC. LOGO] 130 CHESHIRE LANE MINNETONKA, MN 55305 952-449-9092 952-449-9353 (FAX) WWW.LAKESENTERTAINMENT.COM TRADED: NASDAQ "LACO" - -------------------------------------------------------------------------------- FOR FURTHER INFORMATION CONTACT: Timothy J. Cope 952-449-7030 - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE: Monday, May 3, 2004 WORLD POKER TOUR NAMES ERICK LINDGREN THE WPT PLAYER OF THE YEAR MINNEAPOLIS, MN (May 3, 2004)--Thanks to his two victories on the WORLD POKER TOUR, 27-year-old Erick Lindgren of Las Vegas has captured the Tour's first WPT Player-of-the-Year honor. Lindgren won two tournaments in the Tour's second season for a total of $1.5 million in prize money - the PartyPoker Million and the Ultimate Poker Classic. He also made the final table at the Grand Prix de Paris, bringing his total winnings to $1,560,568. At the Bellagio in Las Vegas, Lindgren was presented with a crystal Player-of-the-Year cup that some of his fellow players joked would be perfect for keeping all of his winnings. He will also wear the WPT Player-of-the-Year jacket at future tournaments. Lindgren entered and won a $162 satellite tournament on PartyPoker.com, which earned him a spot on the PartyPoker Million cruise in March. At the end of day, it was Lindgren who took home the million-dollar prize. He also won the $500,000 at UltimateBet.com's Ultimate Poker Classic in Aruba on the WPT's stop there in October, as well as $60,568 for fifth place at the Aviation Club de France. The three tournaments earned him 2400 points in the WPT's ranking system. 1,000 points are awarded for a victory, 700 for second place, 600 for third, 500 for fourth, 400 for fifth, 300 for sixth and 200 seventh. The runner-up in the scoring was Paul Phillips, also of Las Vegas, with 1700 points for a win at the Bellagio Five Diamond World Poker Classic and a second place finish at The Bicycle Casino in Los Angeles. ERICK LINDGREN BIOGRAPHY "I feel totally blessed," says Lindgren. "I'm just a really competitive guy and poker satisfies my competitive nature." Lindgren plays poker just like the All-League quarterback and MVP basketball player he was in high school. Raised in a home of two boys in the remote town of Burney, CA (pop. 3,000) in the Sierra Nevada range near Mt. Shasta, competition was the norm. Going off to junior college in Chico, CA, to play basketball, Lindgren became sidetracked. After playing recreationally at a local Indian casino, he secured a job as a blackjack dealer. He soon picked some up pretty handy poker skills, which he began to apply in earnest. At 21, he was playing poker full-time and working at a casino in San Pablo, CA as a "propositional player" - a player hired by a property to keep the games lively. Before long, he was off and running as an up-and-coming poker pro, playing tournament poker regularly. ABOUT THE WORLD POKER TOUR World Poker Tour, LLC is a media and entertainment company principally engaged in the development, production and marketing of gaming-themed televised programming, the licensing and sale of branded products and the sale of corporate sponsorships. The World Poker Tour is a joint venture between Steven Lipscomb and Lakes Entertainment, Inc., which owns approximately 80% of WPT. Lakes currently has development and management agreements with four separate Tribes for four new casino operations, one in Michigan, two in California and one with the Nipmuc Nation on the East Coast. In addition, Lakes Entertainment has agreements for the development of one additional casino on Indian-owned land in California through a joint venture with MRD Gaming, which is currently being disputed by the Tribe. Lakes Entertainment, Inc. common shares are traded on the Nasdaq National Market under the trading symbol "LACO". - -------------------------------------------------------------------------------- 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 plan 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, 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; continued indemnification obligations to Grand Casinos; 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; and reliance on Lakes' management. For more information, review the Company's filings with the Securities and Exchange Commission. - -------------------------------------------------------------------------------- EX-99.2 3 c85182exv99w2.txt PRESS RELEASE DATED MAY 4, 2004 EXHIBIT 99.2 NEWS RELEASE LAKES ENTERTAINMENT, INC. 130 CHESHIRE LANE [LAKES ENTERTAINMENT, INC. LOGO] MINNETONKA, MN 55305 952-449-9092 952-449-9353 (FAX) WWW.LAKESENTERTAINMENT.COM TRADED: NASDAQ "LACO" - -------------------------------------------------------------------------------- FOR FURTHER INFORMATION CONTACT: Timothy J. Cope 952-449-7030 - -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE: Tuesday, May 4, 2004 LAKES ENTERTAINMENT INTRODUCES NEW CASINO GAME BASED ON WORLD POKER TOUR TELEVISION SHOW WORLD POKER TOUR ALL-IN HOLD `EM(R) CAPITALIZES ON WPT POPULARITY MINNEAPOLIS, MN (MAY 4, 2004) -- If casino managers are looking for a great new way to capitalize on the increased visibility of poker inspired in part by the World Poker Tour television series currently shown on the Travel Channel, they need look no farther than the dynamic new table game WORLD POKER TOUR ALL-IN HOLD `EM(R) coming to casinos soon. Introduced by Lakes Entertainment, Inc. through a license agreement with World Poker Tour, LLC, WPT ALL-IN HOLD `EM will allow poker fans to experience the same kind of excitement and drama that they have been accustomed to seeing on their television sets. Players can strategize their betting and experience the rush of making an "all-in" raise or bluffing for a big win. What makes WPT ALL-IN HOLD `EM distinctive is that, unlike the traditional Texas Hold `Em poker played on the Tour, players don't bet against their fellow players--they bet against the dealer only! The table is specially designed to showcase a new derivation of Texas Hold `Em, which is easy to learn, easy to play, and provides plenty of action. In WPT ALL-IN HOLD `EM each player is required to bet the blind ante on every hand. That's the ticket into the game. Then the player has other betting options, including an optional bonus bet on the hole cards. For example, two red aces pays 50 to 1, while a pair of deuces pays 2 to 1. Once he or she has seen the hole cards, a player can fold, raise the blind ante by betting five times or even ten times the ante bet (placed in two easily visible marked circles in front of each player.) Then the action turns to the dealer, who will fold and pay off the bets, or call. If the dealer qualifies to play on (based on specific rules), the play continues with the flop, turn and the river. If the player's best five-card poker hand beats the dealer's, the player wins his ante and the raise bets. (more) Says David Sklansky, noted expert and author of The Theory of Poker: "This is a casino-style Hold 'Em game that gives both expert poker players and novice casino players an equal shot at winning. The game delivers the feel of playing on the World Poker Tour, without any fear or the intimidation of raising into a player like me who just might come over the top, all-in, with a stone cold bluff. WPT ALL-IN HOLD `EM gives players of any level the challenge, drama and excitement of high stakes poker." "Furthermore, this game gives players a real shot at winning. In fact, the rules of the game make it highly possible for any player to win, because, unlike the Tour, should you make a mistake, you still don't have much the worst of it. What you do have is dramatic decisions within every hand you play." Players are not the only winners with WPT ALL-IN HOLD `EM. The table is marketed to casinos along with an attractive screen that runs an action-packed WPT promotional and instructional video on a continual loop that is designed to draw players to the table. The exciting new WPT ALL-IN HOLD `EM table game is marketed by Lakes Entertainment, a respected name in the gaming world through its previous development and management of Indian casinos across the nation. Lakes Entertainment also owns approximately 80% of World Poker Tour, LLC, the media and entertainment company that films and produces the World Poker Tour television series. Lakes Entertainment CEO Lyle Berman, a world class poker player who is in the Poker Hall of Fame, is convinced that the company has a winning hand with WPT ALL-IN HOLD `EM. "In the casino business, there is only one thing more important than providing your players a great experience. And that is the odds must favor the house, which this game does. And it will bring new revenue to the casinos. WPT ALL-IN HOLD `EM provides a new attraction for promotion and advertising--and it will bring to your tables people who want to have the fun, but may not have the skill to play high stakes Texas Hold `Em with a table of more experienced players. In the quest for new sources of income, this game provides unlimited potential. We know it'll be the next big hit for casino operators." For information on being among the first casinos to secure the WPT ALL-IN HOLD `EM please contact Jack Malisow at Lakes Entertainment (925) 449 7024 or email: jmalisow@lakesentertainment.com. You can see more on WPT ALL-IN HOLD `EM at www.lakesentertainment.com. About Lakes Entertainment, Inc. Lakes Entertainment, Inc. currently has development and management agreements with four separate Tribes for four new casino operations, one in Michigan, two in California and one with the Nipmuc Nation on the East Coast. In addition, Lakes Entertainment has agreements for the development of one additional casino on Indian-owned land in California through a joint venture with MRD Gaming, which is currently being disputed by the Tribe. In addition, Lakes Entertainment owns approximately 80% of the World Poker Tour, the entertainment and media company that films and produces the World Poker Tour television series currently shown on Travel Channel. Lakes Entertainment, Inc. common shares are traded on the Nasdaq National Market under the trading symbol "LACO". - -------------------------------------------------------------------------------- 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 plan 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, 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; continued indemnification obligations to Grand Casinos; 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; and reliance on Lakes' management. For more information, review the Company's filings with the Securities and Exchange Commission. - -------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----