EXHIBIT 99.1
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"
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FOR FURTHER INFORMATION CONTACT:
Timothy J. Cope 952-449-7030
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FOR IMMEDIATE RELEASE:
Tuesday, July 6, 2004
LAKES ENTERTAINMENT, INC. SELECTED FOR LISTING ON THE
CHICAGO BOARD OPTIONS EXCHANGE
MINNEAPOLIS, JULY 6, 2004 -- LAKES ENTERTAINMENT, INC. (NASDAQ "LACO") today
announced that it has been selected for listing on the Chicago Board Options
Exchange. Trading in equity options on Lakes Entertainment common stock began on
July 1, 2004.
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 with the Nipmuc Nation on the East Coast. Lakes Entertainment
also 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. Additionally, the Company owns approximately 80% of
World Poker Tour, LLC, 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.
Lakes Entertainment, Inc. common shares are traded on the Nasdaq National Market
under the trading symbol "LACO".
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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 plans 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 owned 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.
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