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): December 22, 2003


                            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 December 22, 2003.

ITEM 9.  REGULATION FD DISCLOSURE

         On December 22, 2003,  Lakes  Entertainment,  Inc. issued a press
release.  A copy of the press release is attached as Exhibit 99.1 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: December 22, 2003                      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 December 22, 2003.