Lakes Entertainment, one of the first major Indian gaming management firms, is shifting its focus, CEO Lyle Berman says.

Lakes has been managing tribal casinos for more than a decade. The firm currently has agreements with five tribes for eight gaming sites.

Berman -- who first got into the business as a partner with former Bureau of Indian Affairs head "Famous" Dave Anderson -- says Indian gaming has been good for Lakes. Revenues of the overall industry have grown to $25 billion in 2006 from $8.5 billion in 1998.

But Berman says Lakes' involvement is coming to an end. The firm hasn't signed any new management contracts in three years.

"Indian gaming is not a growth business," Berman tells The Minneapolis Star Tribune.

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High-stakes gamble (The Minneapolis Star Tribune 11/4)
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Lakes Entertainment Inc. (The Minneapolis Star Tribune 11/4)<