Lakes eyeing former Isle property

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Published: January 11,2010

Tags: casinos, gaming, real estate

TUNICA — Lakes Entertainment Inc.’s wholly owned subsidiary, Lakes Tunica Casino Management, LLC, has entered into a development services and management agreement with Abston-McKay Ventures, LLC, wherein Lakes agreed to perform certain development and management services for a potential casino located at the former Isle of Capri site in Tunica.

Terms if the deal were not disclosed.

Lyle Berman, CEO of Minneapolis, Minn.-based Lakes, said, “We are currently working on the details of the casino development, but we expect it to be a first class casino facility with the exciting new games, restaurants, entertainment, a hotel and other amenities to which the public has become accustomed with respect to Lakes’ managed properties.”

Lakes Entertainment, Inc. currently has development and management or financing agreements with four separate Tribes for casino operations in Michigan, California, and Oklahoma, for a total of five separate casino sites. Lakes is currently managing the Cimarron Casino for the Iowa Tribe of Oklahoma, the Four Winds Casino Resort for the Pokagon Band of Potawatomi Indians and the Red Hawk Casino for the Shingle Springs Band of Miwok Indians. Lakes is also involved in other business activities, including the development of new table games for licensing to Tribal and non-Tribal casinos.

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