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[QUOTE="Stick66, post: 363090, member: 7928"]
[B][SIZE=4]Casino developer might sell poker tour stake to keep running[/SIZE][/B]
 
[SIZE=1]Sacramento Business Journal - 9:47 AM PST Friday[/SIZE]
 
[FONT=Times New Roman,Times,Serif][SIZE=3][COLOR=#000000][COLOR=#0000ff]Lakes Entertainment Inc.[/COLOR], which is working with a local Indian tribe to develop a casino in El Dorado County (Northern California), might sell its stake in the [B]World Poker Tour[/B] in order to raise the cash it needs to keep operating. 
Minnetonka, Minn.-based Lakes Entertainment, which owns about 62 percent of Los Angeles' [COLOR=#0000ff]WPT Enterprises Inc.[/COLOR], said it needs $10 million in financing by Dec. 31 and another $10 million by March 1. 
Lakes Entertainment (Pink Sheets: LACO) owns roughly 12.5 million shares of WPT Enterprises (NASDAQ: WPTE). Lakes Entertainment Chairman and CEO Lyle Berman is also chairman of WPT Enterprises. 
Lakes is a development partner with the Shingle Springs Band of Miwok Indians, which is seeking to build a 380,000-square-foot-plus casino and hotel resort on tribe-owned land in Shingle Springs, CA. Those plans have been opposed by neighbors and El Dorado County officials, [COLOR=#0000ff]most recently in a court appeal[/COLOR] that required additional work on an environmental plan for an exit from Highway 50 that would serve the complex. 
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