Lakes recognized other non-cash impairment losses of $18.8 million during the fourth quarter of 2010 and $1.3 million during the fourth quarter of 2009. The fourth quarter 2010 impairment losses included $16.7 million related to intangible assets associated with the Shingle Springs project. These intangible assets were impaired because their carrying value exceeded estimated future cash flows. Also included were impairments related to land held for development during the fourth quarters of 2010 and 2009 of $1.6 million and $0.5 million, respectively, related to the continued uncertainty surrounding the development of the Vicksburg project in Mississippi. Fourth quarter impairment losses of $0.5 million in 2010 and $0.8 million in 2009, related to continued uncertainty surrounding the completion of the project with the Jamul Indian Village near San Diego, California (“Jamul”).Amortization of intangible assets related to the operating casinos was $2.8 million for the fourth quarter of 2010 and for the fourth quarter of 2009.
Lakes Entertainment Announces Results For Fourth Quarter And Full Year 2010
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.