HAGERSTOWN, Md. (AP) - The owner of the Rocky Gap Casino Resort in western Maryland says shareholders will benefit tremendously from the company's planned merger with a privately held Nevada casino operator.
Lakes Entertainment Inc. CEO Lyle Berman made the comment Thursday in the company's fourth-quarter earnings statement.
The Minnetonka, Minnesota-based company is fighting a shareholder lawsuit alleging it failed to seek the best deal before agreeing in January to merge with Las Vegas-based Sartini Gaming Inc.
Lakes shareholders would receive stock in a new company, Golden Entertainment Inc., worth $9.57 a share.
Lakes reported a net loss of $58,000 for the three months ending Dec. 28. That compares with a loss of nearly $900,000 during the same period a year earlier.
The company says the Rocky Gap casino met its expectations in 2014.
