Lakes Entertainment Inc. (LACO), which had hoped to develop casinos in Ohio with Penn National Gaming Inc. (PENN), has agreed to give up its relationship with that company. As part of the new agreement, Lakes Entertainment will be paid $25 million for its rights, titles and interest in its Ohio casino projects. The two companies had planned to jointly develop casinos in Columbus and Toledo. As it stands, Penn National Gaming will go forward with the projects.
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