Lakes Entertainment, Inc. (LACO: Quote) reported that net loss for the fourth quarter of 2011 was $12.7 million, compared to $28.1 million in the fourth quarter of 2010.
Loss was $0.48 per share compared to loss of $1.07 per share last year.
Lakes Entertainment reported fourth quarter 2011 revenues of $1.3 million, compared to fourth quarter 2010 revenues of $4.7 million. This decline was due to the elimination of management fees from the Four Winds Casino Resort as a result of the early buy-out of the management agreement for that property during the second quarter of 2011.
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by RTT Staff Writer
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