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Lakes Entertainment Reports Mississippi Site Approved

MINNEAPOLIS, Minnesota -- (PRESS RELEASE) -- Lakes Entertainment, Inc. (Nasdaq:LACO) today announced that its request for gaming site approval with respect to its proposed casino location in Vicksburg, Mississippi has been granted by the Mississippi Gaming Commission. Lakes plans to develop the project on an approximately 160 acre site on the Mississippi River, located on Magnolia Road in Vicksburg, Warren County, Mississippi.

Berman, Chairman and CEO of Lakes stated, "We are very excited about our proposed project in Vicksburg. We look forward to building and operating a first class facility that will enhance and grow the market. Our site is strategically located near Highway 61 to provide easy access for our guests."

Tim Cope, President and CFO of the Company added, "We plan to open an operation consisting of approximately 1,500 slot machines, 45 table games, a 250 room hotel and an enclosed guest parking facility. Our next steps are to work with the Army Corps of Engineers on site planning, complete the site development process and obtain the necessary development and construction financing. We look forward to opening by early 2007."

Lakes Entertainment, Inc. currently has development and management agreements with five separate Tribes for one new casino operation in Michigan, two in California, one in Texas and one in Oklahoma. Additionally, the Company owns approximately 64% of WPT Enterprises, Inc. (Nasdaq:WPTE), a separate publicly held media and entertainment company principally engaged in the development, production and marketing of gaming themed televised programming including the World Poker Tour television series, the licensing and sale of branded products and the sale of corporate sponsorships.

Lakes Entertainment, Inc. common shares are traded on the Nasdaq National Market under the trading symbol "LACO".

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