Lakes Entertainment Profitable on Poker

The parent company of WPT Enterprises, which is the company that owns the World Poker Tour, has shown a profit in the second quarter of this year, attributed to a 70% rise in sales. Lakes Entertainment, a Minnetonka-based casino manager and developer, reported that for the three months ending July 2 the company earned $3.2 million. This equates to $.13 per share and is compared with a loss of $5.7 million, or $.25 per share, from one year ago. A 70% increase to $11.2 million from $6.6 million shows how all the revenues have improved for Lakes Entertainment. Much of the increase in revenue comes from television licensing fees and the success of televised poker.