================================================================================


                       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): October 19, 2001


                               LAKES GAMING, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


     MINNESOTA                     0-24993                    41-1913991
  ---------------              ----------------           -------------------
  (State or other              (Commission File             (IRS Employer
  jurisdiction of                   Number)               Identification No.)
  incorporation)


          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 5.  OTHER EVENTS.

         The Press Release dated October 19, 2001, issued by the Registrant has
been filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by
reference.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits

99.1     Press Release dated October 19, 2001.




                                    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 GAMING, INC.
                                       (Registrant)


Date: October 23, 2001                 By: /s/Timothy J. Cope
                                          --------------------------------------
                                           Name:  Timothy J. Cope
                                           Title: Chief Financial Officer



                                      -2-




                                  EXHIBIT INDEX




EXHIBIT NO.                DESCRIPTION
-----------                ------------
                        
99.1                       Press Release dated October 19, 2001.





                                      -3-