Indian casino firm earns $8.6 million
Wednesday, July 21, 1999 | 11:02 a.m.
MINNETONKA, Minn. -- Lakes Gaming Inc. reported second-quarter earnings of $8.6 million, or 80 cents per diluted share, on revenues of $14.9 million.
The company began trading publicly on Jan. 4 and did not present comparative earnings for last year.
Lakes said its earnings were boosted by a gaming floor and hotel expansion at Grand Casino Coushatta in southwest Louisiana at the end of 1998.
Lakes, a casino management company, was spun out of Grand Casinos Inc. in December. The company operates two Indian casinos in Louisiana, and has recently signed agreements to manage a new casino in Michigan and two in California.
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