Lakes Entertainment Announces Buy-out of Partner in Evitts Resort

Lakes Entertainment, Inc. LACO announced that it has entered into an agreement to buy out Addy Entertainment, LLC's interest in Evitts Resort, LLC, a joint venture between Lakes and Addy. In September 2011, Evitts submitted a response to a request for proposal by the State of Maryland Video Lottery Facility Location Commission for a video lottery operation license at the Rocky Gap Lodge & Golf Resort in Cumberland, Maryland. Subsequent to the buy-out, Lakes will be the sole owner of Evitts. The buy-out is contingent on Evitts being awarded the license by the Commission, which has not yet selected a recipient of the license.