Pokagon
Band Wins Ruling
Lakes Entertainment, Inc. (LACO)
announced today that on Friday, January 6, 2006,
the United States Court of Appeals for the District
of Columbia Circuit ruled in favor of the Pokagon
Band of Potawatomi Indians ("Pokagon Band")
by affirming the Federal District Court's grant
of summary judgment in the lawsuit by the Taxpayers
of Michigan Against Casinos (TOMAC) versus the
U.S. Department of the Interior. Referring to
TOMAC's claims as "specious" and "missing
their mark," the Court soundly rejected
TOMAC's appeal, concluding that its claims "have
no merit." "We have been heard and
understood," said Pokagon Band Tribal Chairman
John Miller. "The Tribe is jubilant. This
court decision is a monumental victory for the
membership of the Pokagon Band, residents of
Southwest Michigan, and all of Indian Country."
The
ruling clears the way for the Bureau of Indian
Affairs (BIA) to take a 675-acre parcel of land
in New Buffalo Township, Michigan, into trust
for the Pokagon Band which paves the way for
the Pokagon Band to move forward with their
Four Winds Casino Resort project. Lakes has
an agreement with the Pokagon Band to develop
and manage the casino and will continue to work
together with the Pokagon Band to successfully
open and operate the planned casino development
project. While TOMAC could try to obtain review
of the decision by the U.S. Supreme Court, the
unanimous decision by the Court makes it unlikely
that TOMAC would prevail.
Lyle
Berman, Chairman and CEO of Lakes stated, "We
are pleased with the Court's decision and we
are extremely happy for the Pokagon Band. This
is a lawsuit that has taken years to resolve
and has delayed the Pokagon Band's goal of becoming
self-sufficient." Tim Cope, President and
CFO of Lakes, added "We look forward to
beginning construction of the Four Winds Casino
as soon as the land-to-trust process is completed.
The first phase of development is planned to
include approximately 3,000 slot machines and
100 table games, as well as numerous restaurants,
enclosed parking and several other casino resort
amenities. The Four Winds Casino will be the
only land-based casino in the northern Indiana/western
Michigan market. We currently anticipate opening
the casino approximately twelve months after
construction begins."
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