Casino Development firm is Struggling
8th November, 2007
Lakes entertainment Inc, the casino development and management firm, that was responsible for developing projects, such as Foothill Oaks, Four Winds Casino, Jowa Tribe of UK Casinos, Jamul Casino and Voksburg has announced a loss of $6.3 million in the third quarter, compared to the last year’s loss of $1 million.
Nevertheless, the revenue has risen this quarter to $7 million compared to the $5.9 million in the third quarter of 2006.
This could be explained by the new development that Minneapolis-based Lakes are working on. It is a casino off Highway 50 in El Dorado County.
Despite the fact that the firm’s main job lies within developing and managing casinos; most of their revenues still come from the licensing rights to the World Poker Tour television series, which is hardly where their revenue is supposed to be coming from on paper.
