Business Deals
Indian gaming management firm to shift focus

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)
Lakes Entertainment Inc. (The Minneapolis Star Tribune 11/4)<