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LACO > SEC Filings for LACO > Form 8-K on 4-Sep-2013All Recent SEC Filings

Show all filings for LAKES ENTERTAINMENT INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for LAKES ENTERTAINMENT INC


4-Sep-2013

Other Events, Termination of a Material Definitive Agreement, Financial S


Item 8.01. Other Events.

On August 29, 2013, Lakes Entertainment, Inc. announced that it received a cash payment of $57.1 million per the terms of the Debt Termination Agreement that Lakes entered into with the Shingle Springs Band of Miwok Indians and the Shingle Springs Tribal Gaming Authority (collectively, "Tribe") relating to monies Lakes had previously advanced to the Tribe for the development of the Tribe's Red Hawk Casino located in Placerville, California ("Debt Termination Agreement").

A copy of the press release announcing receipt of such payment is attached to this Form 8-K as Exhibit 10.1.



Item 1.02. Termination of a Material Definitive Agreement.

The following agreements, which all related to the development, financing and management of the Red Hawk Casino, were terminated effective as of August 29, 2013 as a result of the Tribe's payment of $57.1 million to Lakes under the Debt Termination Agreement:

? First Amended and Restated Memorandum of Agreement Regarding Gaming Development and Management Agreement between Shingle Springs Band of Miwok Indians, a Federally Recognized Tribe and Lakes KAR Shingle Springs, LLC, a Delaware Limited Liability Company, dated October 13, 2003, as amended June 16, 2004, as approved by the National Indian Gaming Commission on July 19, 2004.

? Second Amendment dated January 23, 2007 to First Amended and Restated Memorandum of Agreement Regarding Gaming Development and Management Agreement between the Shingle Springs Band of Miwok Indians and Lakes KAR - Shingle Springs, LLC.

? Third Amendment dated as of May 27, 2007 to First Amended and Restated Memorandum of Agreement Regarding Gaming Development and Management Agreement between the Shingle Springs Band of Miwok Indians and Lakes KAR - Shingle Springs, LLC.

? Purchase Agreement dated as of June 22, 2007 among Lakes KAR - Shingle Springs, LLC, Shingle Springs Band of Miwok Indians, Shingle Springs Tribal Gaming Authority, Morgan Stanley & Co. Incorporated and Wells Fargo Securities, LLC.

? Notes Dominion Account Agreement dated June 28, 2007 among Lakes KAR - Shingle Springs, LLC and the Bank of New York Trust Company, N.A.

? Security Agreement Acknowledgement dated June 28, 2007 between Lakes KAR - Shingle Springs, LLC and the Shingle Springs Tribal Gaming Authority.

? Intercreditor and Subordination Agreement dated June 28, 2007 among Lakes KAR - Shingle Springs, LLC and the Bank of New York Trust Company, N.A.

? Assignment and Assumption Agreement dated April 20, 2007 among the Shingle Springs Board of Miwok Indians, Shingle Springs Tribal Gaming Authority and Lakes KAR - Shingle Springs, LLC.

? Intercreditor and Subordination Agreement, dated as of September 30, 2008, with Bank of Utah, as FF&E agent.

? First Amendment to Intercreditor and Subordination Agreement, dated as of September 30, 2008, with The Bank of New York Mellon Trust Company, N.A., as Collateral Agent.




Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable

(b) Not Applicable

(c) Not Applicable

(d) Exhibit

10.1 Lakes Entertainment, Inc. Press Release dated August 29, 2013.

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