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World Poker Tour Plans Initial Public Offering

MINNEAPOLIS, Minnesota -- (Press Release) -- Lakes Entertainment, Inc. (Lakes) (Nasdaq:LACO) World Poker Tour, LLC announced today that it will seek to raise approximately $20 million through a newly formed corporation pursuant to an underwritten initial public offering of common stock at a price to be determined.

It is expected that proceeds from the offering will be used to expand World Poker Tour's entertainment production business and for its working capital. There will be no selling shareholders participating in the offering.

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