Lakes Entertainment shares up on ruling |
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Tue, 06 Mar 2007 17:44
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MINNEAPOLIS (AP) - Lakes Entertainment Inc., a casino developer and manager working primarily with Indian tribes, said Tuesday that a California appeals court denied a motion to forbid construction from proceeding on a proposed interchange that would lead to its planned Foothill Oaks casino.The motion by citizens' group Voices for Rural Living sought to stop construction on the proposed interchange on Highway 50 in El Dorado County until its appeal against the California Department of Transportation is resolved.The interchange will give access to Shingle Springs Rancheria, a reservation held in trust for the Shingle Springs Band of Miwok Indians and the site of the proposed Foothill casino.'We are pleased that the court of appeals denied the motion which was done even before the tribe and other parties had an opportunity to file their respective briefs in opposition to the stay request. This again just further underscores our belief that Voices for Rural Living's appeals are without merit,' Lakes Entertainment President and Chief Financial Officer Tim Cope said in a statement.The company said it may now begin construction on the interchange.Efforts to reach Voices for Rural Living weren't immediately successful.Shares of Lakes Entertainment added 42 cents, or 4.8 percent, to $9.16 in morning trading on the Nasdaq Stock Market. The stock has traded in a 52-week range of $7.60 to $13.28.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Lakes Entertainment pays off debt 