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Public can ante up for ownership

Monday, Feb. 23, 2004 | 11:08 a.m.

MINNEAPOLIS -- Lakes Gaming announced Friday it plans to sell stock in its World Poker Tour, forming a corporation that will seek to raise about $20 million through an initial public offering.

World Poker Tour is now filming its second season of major poker championship final tables for broadcast on the Travel Channel.

Two WPT tournaments are filmed in Las Vegas, both at the Strip's Bellagio resort, including April's $25,000 buy-in WPT championship event.

The WPT is 80 percent owned by Lakes Gaming and 20 percent owned by the show's producer, Steve Lipscomb.

Lakes Gaming President Timothy Cope said the company hopes to complete the offering within the next 60 to 90 days.

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