Earnings (loss) per Share

12 Months Ended

Jan. 01, 2012

Earnings (loss)per share [Abstract]

Earnings (loss) per Share

11.  Earnings (Loss) per Share

For all periods, basic earnings (loss) per share (“EPS”) is calculated by dividing net earnings (loss) attributable to Lakes Entertainment, Inc. by the weighted-average common shares outstanding. Diluted EPS in profitable periods reflects the effect of all potentially dilutive common shares outstanding by dividing net earnings (loss) attributable to Lakes Entertainment, Inc. by the weighted-average of all common and potentially dilutive shares outstanding. Potentially dilutive stock options of 1,644,639 for the year ended January 1, 2012 and 2,031,084 for the year ended January 2, 2011, were not used to compute diluted earnings per share because the effects would have been anti-dilutive.