Lakes Entertainment (LACO) Submitted Application for Kansas Casino License

April 2, 2009 3:33 PM EDT

Lakes Entertainment, Inc. (NASDAQ: LACO) announced that on April 1, 2009, it submitted an application to the Kansas Lottery Commission ("Commission") for a Gaming Facility Manager license to develop and operate a casino in the South Central Kansas Gaming Zone. The Commission will evaluate applications and award one license to operate a casino in Sumner County in the South Central Kansas Zone. The license has a term of 15 years during which the recipient will have the exclusive right to operate a casino in Sumner County.

"The plan we submitted provides for a $265,000,000 investment in the casino development, which will feature approximately 2,000 slot machines, 60 table games, a poker room, a number of restaurants, and a retail component," said Timothy Cope, President and Chief Financial Officer of Lakes. "Phase two of the development could include a hotel and entertainment center, child care facility and other market driven amenities," added Mr. Cope. [SM]

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