LAKES EARNINGS DIP IN THIRD QUARTER

October 22, 2001 11:11 PM
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Despite sagging third quarter revenues for Lakes Gaming Inc. Minnetonka, the firm is optimistic that the trend will reverse.

The Minnesota company posted revenues of $8.7 million for the third quarter, a 19 percent drop from the $10.7 million posted for the same period last year.

Lakes Gaming is developing four new Indian casinos and has signed a deal on a fifth. Ground breaking on at least one of the sites is expected by the end of the year.

The hope is for gaming revenues to begin accumulating at the end of 2002.