International edition
September 28, 2020

Due to the success of the Red Hawk Casino near Placerville, California

Big quarterly turnaround for Lakes Entertainment

(US).- While most gaming companies continued to report declines in revenue and profit for the second fiscal quarter, the firm Lakes Entertainment, although much smaller than most of its competitors, reported a substantial turnaround during the period.

L

akes Entertainment Inc. (LACO) said that primarily because of the success of the Red Hawk Casino near Placerville, California, it enjoyed a profit of us$ 2.8 million, up from last year’s loss of us$ 5.2 million in the second fiscal quarter. Actually, for the first six months of the year, the company moved from a loss of us$ 12.1 million in 2008 to a profit of us$ 3.8 million this year.

The company built and operates a Las Vegas-style casino in Placerville for the Shingle Springs Band of Miwok Indians. It also manages Cimarron Casino for the Iowa Tribe of Oklahoma and the Four Winds Casino Resort for the Pokagon Band of Potawatomi Indians.

"Our revenue grew during 2009 primarily as a result of improved performance at the Four Winds Casino Resort and the opening of the Red Hawk Casino," said Lyle Berman, company CEO. "Red Hawk’s ability to achieve consistently strong operating results" was a major factor, he said.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook