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LACO > SEC Filings for LACO > Form 8-K on 17-Jan-2014All Recent SEC Filings

Show all filings for LAKES ENTERTAINMENT INC

Form 8-K for LAKES ENTERTAINMENT INC


17-Jan-2014

Regulation FD Disclosure, Financial Statements and Exhibits


Item 7.01. Regulation FD Disclosure.

On January 16, 2014, Lakes Entertainment, Inc. ("Lakes") issued a press release announcing that Penn National Gaming, Inc. ("Penn") recently reported that the Jamul Indian Village of California ("Jamul") and a wholly owned subsidiary of Penn announced the launch of construction activities at the site of the proposed $360 million Hollywood Casino Jamul on Jamul's reservation in Jamul, California.

Jamul currently owes Lakes $60 million related to loans made by Lakes to Jamul in prior years under agreements for a potential casino development. Lakes agreed that it will subordinate repayment of such debt until the senior financing is paid in full, but that current interest on the subordinated debt will be paid to Lakes on a quarterly basis when the Hollywood Jamul Casino opens so long as there is no default under the senior financing agreement. When the senior financing is paid in full, Lakes will receive repayment of its outstanding principal and interest.

A copy of the press release is being furnished to the Securities and Exchange Commission and is attached as Exhibit 99.1 to this Form 8-K.



Item 9.01. Financial Statements and Exhibits.

(a) Not Applicable

(b) Not Applicable

(c) Not Applicable

(d) Exhibits

99.1 Lakes Entertainment, Inc. Press Release dated January 16, 2014.

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