LACO Spinoff of WPTE - Anyone have the Quicken Numbers?

Google is your friend or, simply go to those companies web sites.

Hi, Ira.

Since some of us don't own shares in LACO or WPTE and never even heard of them, it would have been nice if you had mentioned the names of the companies at least once. And you should always mention which version of Quicken you are using.

A quick Live Search for "laco +wpte" got the information in the first hit:

Now I know that LACO is Lakes Entertainment, Inc. and WPTE is WPT Enterprises, Inc.

A further search on that web page found this:

Lakes Entertainment Announces Dividend Ratio

Lakes Entertainment, Inc. (LACO) announced that it has set the dividend ratio at 0.478982732 shares of WPT Enterprises, Inc. ("WPTE") common stock for each share of Lakes Entertainment, Inc. common stock held as of 5:00 P.M. Central Daylight Time on October 24, 2008, the record date. The final dividend ratio was calculated by dividing the 12,480,000 shares of WPTE common stock owned by Lakes by the 26,055,219 shares of Lakes common stock outstanding on the record date. As previously announced, the distribution date for the dividend is November 21, 2008.

On LACO's Investor Relations page, I found:

20635

Lakes shareholders will receive whole shares of WPTE common stock in book entry form and cash payments for fractional shares. An information statement, which will include information on the tax consequences of the dividend, will be mailed to Lakes shareholders on or before November 21,

2008.

Did you receive that information statement?

That gives you all you need for Quicken's Spin-off wizard except the Fair Market Value of the LACO and WPTE shares immediately after the transaction. This is what Quicken means when it asks for the "Cost" of those shares. The companies should have determined these values by now; that information should have been in the statement they were to have mailed you by November

1. You should click Enter Transactions, choose Corporate Securities Spin-Off, and enter 0.478982732 where Quicken asks for the number of New shares issued ___ per old share. Then enter the FMVs where Quicken asks for the Costs. Quicken should handle the rest.

If you hit a snag or have further questions, please post back.

Remember that I've been retired for over a decade, so be sure to check with your own CPA to be sure of the current rules on these transactions.

RC

RC,

Thank you for your reply. The disclosure statement finally showed up on

12/6, but did not contain any information beyond what you found.

As for giving the symbols only, that was somewhat intentional. I am astounded and appreciative of your response; and my original intent was just for someone who had LACO and knew the numbers to see if they would share them ... not for someone to go out and do research :) You are such a wonderful person that you went ahead and did that anyway :)

Thank you very much!

Hi, Ira.