For 2011, net unrealized losses on notes receivable were $11.9 million, compared to net unrealized gains on notes receivable of $1.6 million in the prior year. The net unrealized losses in the current year consisted of losses related to the Jamul project due primarily to the previously announced termination of the agreement with the Jamul Tribe. The net unrealized gains in the prior year consist of gains related to the Iowa Tribe of $0.9 million which resulted from the termination agreement with the Iowa Tribe in May 2010 and net gains of $0.7 million related to the Jamul project due primarily to improvements in the credit markets during that period.Other income, net was $5.2 million for 2011 compared to $28.1 million for 2010. During the third quarter of 2010, Lakes entered into a termination agreement with Penn Ventures, LLC and received $25 million in exchange for the Company’s interest in two potential casinos in Ohio. As a result, other income, net for 2010 includes a gain of $23.1 million related to this agreement.
Lakes Entertainment Announces Results For Fourth Quarter And Full Year 2011
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