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Lakes Entertainment Inc announces sale of its ownership in Dania Entertainment Holdings


Wednesday, 23 Apr 2014 06:30am EDT 

Lakes Entertainment Inc:Lakes Florida Development LLC, subsidiary entered into redemption agreement with Dania Entertainment Holdings LLC (DEH).DEH redeemed Lakes's 20 pct ownership in DEH in consideration for DEH transferring to Lakes 5 pct ownership in Dania Entertainment Center, LLC.Concurrently Lakes entered into purchase agreement with ONDISS Corp pertaining to sale of Lakes's membership interest of DEC.Purchase agreement provides that ONDISS will pay Lakes total purchase price of about $2,500,000 for 5 pct ownership in DEC. 

Company Quote

4.47
-0.18 -3.87%
28 Aug 2014