Lakes Entertainment Inc. (LACO) said that primarily because of the success of the Red Hawk Casino near Placerville, California, it enjoyed a profit of $2.8 million, up from last year’s loss of $5.2 million in the second fiscal quarter.
|Nevada revenues hit new low|
|Casino revenues still in freefall|
|Nevada revenues continue to slide|
|Also Check out our Race & Sports Section|
Actually, for the first six months of the year, the company moved from a loss of $12.1 million in 2008 to a profit of $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.