Lakes recognized impairment losses of $0.6 million during the second quarter of 2011 compared to $0.7 million in the prior-year period. Impairment losses in the second quarters of 2011 and 2010 were due primarily to continued uncertainty surrounding the completion of the project with the Jamul Indian Village (“Jamul Tribe”) near San Diego, California.Net unrealized losses on notes receivable relate to the Company’s notes receivable from Indian tribes for casino projects that are not yet open, which are adjusted to estimated fair value based upon the current status of the related tribal casino projects and evolving market conditions. In the second quarter of 2011, net unrealized losses on notes receivable were $0.1 million, compared to $1.5 million in the prior year period. The net unrealized losses in the second quarters of 2011 and 2010 were related to the project with the Jamul Tribe due primarily to ongoing issues in the credit markets.
Lakes Entertainment Announces Results For Second Quarter 2011
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
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.