Document:

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                                                                  Exhibit 10.143

                                TRIBAL AGREEMENT
                      (LAKES IOWA MANAGEMENT - NEW PROJECT)

     THIS TRIBAL AGREEMENT (hereinafter referred to as the "Agreement") is made
as of January 27, 2005 ("Effective Date") by and among the Iowa Tribe of
Oklahoma ("Iowa Tribe"), a federally recognized Indian tribe, and Lakes Iowa
Management, LLC, a Minnesota limited liability company ("Lakes Management").

                                    RECITALS

     A. The Iowa Tribe is a federally recognized Indian tribe eligible for the
special programs and services provided by the United States to Indian tribes,
and is recognized as possessing and exercising powers of self-government. The
Iowa Tribe, pursuant to Section 3 of the Oklahoma Indian Welfare Act of June 26,
1936 (49 Stat. 1967), was issued a corporate charter for Iowa Corp on January 4,
1938 by the Secretary of the Interior and said corporate charter was ratified by
the Iowa Tribe on February 5, 1938. Iowa Corp is vested with sovereign immunity,
and is the entity that controls and manages the economic affairs of the Iowa
Tribe, including tribal gaming operations.

     B. Lakes Consulting has entered into a management agreement with Iowa Corp
and the Iowa Tribe dated January 27, 2005 (as amended from time to time, the
"Management Contract"), pursuant to which Lakes Management is to provide certain
management services to Iowa Corp with respect to certain "Project Facilities"
concerning a new project with specified gaming operations and related amenities
to be developed in Oklahoma, now or hereafter owned by Iowa Corp on behalf of
the Iowa Tribe as described with specificity therein.

     C. Pursuant to the terms of the Management Contract, the Iowa Tribe is
required to execute and deliver this Agreement to induce Lakes Management to
enter into the Management Contract together with certain additional documents
and agreements referred to therein or related thereto.

     D. The Iowa Tribe and Lakes Management intend that this Agreement shall be
operative and binding upon the date of execution by the parties (the "Effective
Date").

     NOW, THEREFORE, in consideration of the hereinafter mutual promises and
covenants, and for other good and valuable consideration as set forth herein,
the receipt and sufficiency of which are expressly acknowledged, the Iowa Tribe
and Lakes Management agree as follows:

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                                    ARTICLE 1
                                   DEFINITIONS

     Except as otherwise defined below or in the recitals to this Agreement,
terms used in this Agreement shall have the meanings set forth in the Management
Contract and/or the other documents and agreements executed by Iowa with respect
thereto:

     "Claim" means any dispute, claim, question, or disagreement between either
the Iowa Tribe and any of Lakes Management or any of its Affiliates that is
directly or indirectly related to this Agreement, any of the other Transaction
Documents, a Gaming Project or any Project Facilities, whether arising under law
or in equity, whether arising as a matter of contract or a tort, and whether
arising during or after the expiration of this Agreement or any of the other
Transaction Documents.

     "Gaming Project" shall have the meaning set forth in Section 2.1(n) hereof.

     "Iowa Entities" means individually and collectively, each of Iowa Corp and
the Iowa Tribe.

     "Transaction Documents" means individually and collectively, this Agreement
and each of the Management Contract, the Operating Note, the security
agreements, dominion account agreements, mortgages, resolutions of limited
waiver and each other document or instrument now or hereafter executed by any of
Iowa Corp and/or the Iowa Tribe in favor of Lakes Management or its respective
Affiliates and related thereto or hereto or any Gaming Projects.

                                    ARTICLE 2
                         REPRESENTATIONS AND WARRANTIES

     Section 2.1 Representations and Warranties. The Iowa Tribe represents and
warrants to Lakes Management that:

     (a)  Organization. The Iowa Tribe is a federally recognized Indian tribe
          eligible to conduct gaming within the meaning of IGRA.

     (b)  Authority and Power. Each of Iowa Corp and Iowa Tribe has taken all
          action required by tribal or other law without the necessity of
          further action as is necessary to authorize the applicable Iowa Entity
          to execute, deliver and perform each of the Transaction Documents that
          such Iowa Entity is party to. Each Iowa Entity that is a party to any
          of the Transaction Documents has all requisite power and authority to
          enter into the Transaction Documents to the extent a party thereto and
          to perform its respective obligations thereunder, and to consummate
          all other transactions contemplated thereby.

                                       2

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     (c)  Binding Obligations. Each of Transaction Documents (i) has been duly
          executed and delivered by each Iowa Entity to the extent it is a party
          thereto, and (ii) constitutes the legal, valid, binding, perfected and
          enforceable obligation of each Iowa Entity to the extent it is a party
          thereto, enforceable in accordance with its respective terms, except
          as enforceability may be limited by future bankruptcy, insolvency or
          similar proceedings, limitations on rights of creditors generally and
          principles of equity, and assuming the foregoing agreements are
          binding against the other parties thereto.

     (d)  Gaming Facility Site. The Gaming Facility Site for the Project
          constitutes "Indian lands" upon which the Iowa Tribe may legally
          conduct gaming under IGRA.

     (e)  Gaming Permitted. The Iowa Tribe is legally permitted to conduct Class
          II Gaming (and Class III Gaming in the event of a Compact) activities
          in the State under all Legal Requirements,

     (f)  Gaming Rights. Once signed by the Iowa Tribe and the State and
          approved and published by the United States Secretary of the Interior,
          the Compact will be in effect and will be a valid and binding
          obligation of the Iowa Tribe. Iowa Corp will then have the right to
          engage in Class III Gaming at the Gaming Facility to be operated by
          Iowa Corp under the Transaction Documents to the extent set forth in
          the Compact.

     (g)  Gaming Licenses. All licenses, permits, approvals or other authority
          required from the Gaming Commission to permit Lakes Management to
          enter into any of the Transaction Documents to which it is a party and
          perform its respective obligations thereunder have been granted.

     (h)  No Material Negative Obligations. There are no outstanding obligations
          owing by any of Iowa Corp or the Iowa Tribe or affecting the Gaming
          Facility Site or the Project, whether arising from contracts,
          instruments, orders, judgments, decrees or otherwise, that are likely
          to materially and adversely affect the Project or the obligations or
          rights of Lakes Management under any of the Transaction Documents to
          which it is a party.

     (i)  No Violation or Conflict. The execution, delivery and performance by
          the applicable Iowa Entity of each Transaction Documents that such
          Iowa Entity is party to does not violate any Legal Requirements nor
          conflict with or result in any breach of any provision of, or
          constitute a default under, or result in the imposition of any lien or
          charge upon any asset of any Iowa Entity, including without limitation
          the Project, or result in the acceleration of any obligation of any
          Iowa Entity under the terms of any agreement or document binding upon
          such party, other than a conflict, breach, default or imposition as
          shall not materially adversely affect the Project or the obligations
          or rights of Lakes Management under any of the Transaction Documents
          to which it is a party.

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     (j)  No Litigation. There are no judgments entered, or actions, suits,
          investigations or proceedings pending, or to the knowledge of any Iowa
          Entity, threatened, against any Iowa Entity or their respective
          Affiliates, or any of the assets or properties of any of such
          entities, that could have a material adverse effect on the Project,
          its Project Facilities, any Iowa Entity's ability to enter into or
          perform any of the Transaction Documents to the extent it is a party
          thereto.

     (k)  No Consents. No consent from any Governmental Authority arising from
          any Legal Requirements not heretofore obtained by the Iowa Tribe is
          required to execute, deliver and perform its obligations hereunder.

     (l)  Full Disclosure. No representation or warranty of any Iowa Entity in
          this Agreement or the other Transaction Documents and no report or
          statement delivered to any of Lakes Management or its respective
          Affiliates by or on behalf of any Iowa Entity, contains any untrue
          statement or omits to state a material fact necessary to make any such
          representation, warranty, report or statement, in light of the
          circumstances in which they were made, not misleading. Each Iowa
          Entity has fully disclosed to Lakes Management the existence and terms
          of all material agreements and Legal Requirements, written or oral,
          relating to the Project.

     (m)  No Tribal Tax. Neither the Project, Project Facilities nor the
          transaction(s) between the parties contemplated by the Transaction
          Document are now, or at any time during the term of this Agreement
          will be, subject to any tribal tax of any sort other than (i)
          reasonable pass-through taxes on Project patrons which are consistent
          with gaming resort industry practices, and (ii) the fees and
          assessments described in clause (c) of the definition of "Costs of
          Operations" as set forth in the Management Contract.

     (n)  Gaming Project Ownership. Except as otherwise expressly excluded under
          the Transaction Documents, all gaming projects and gaming and
          non-gaming assets and facilities related or ancillary thereto (each
          collectively referred to herein as a "Gaming Project") of the Iowa
          Tribe are/will be owned and operated by Iowa Corp, or if any Gaming
          Project is owned by another subsidiary of the Iowa Tribe, then (i) if
          the Gaming Project constitutes the Project, Gaming Facility and
          Project Facilities described and defined in the Management Contract,
          such subsidiary has entered into a Management Contract and related
          documents with Lakes Management and/or its Affiliates with respect
          thereto on the same terms and conditions as are set forth in the
          Management Contract and the other Transaction Documents unless
          otherwise agreed to in writing by Lakes or its Affiliate, and has
          otherwise satisfied the terms and conditions required by Section 3.1
          (f) hereof, or (ii) with respect to any other Gaming Projects, the
          subsidiary has entered into a written agreement with Lakes Management
          and/or its Affiliates granting such entity the same right of first
          refusal to manage such projects as has been granted to Lakes
          Management under the terms of Section 9.21 of the Management

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          Contract and has otherwise satisfied the terms and conditions required
          by Section 3.1 (f) hereof.

                                    ARTICLE 3
                                    COVENANTS

     Section 3.1 Covenants. The Iowa Tribe covenants and agrees as follows:

          (a)  Additional Documents. It shall or shall cause Iowa Corp to
               execute any additional instruments as may be reasonably required
               by Lakes Management to carry out the intent of any of the
               Transaction Documents or to perfect or give further assurance of
               any of the rights granted or provided for under such Transaction
               Documents.

          (b)  Non-Impairment. It shall not and shall not permit Iowa Corp or
               any of its other governmental instrumentalities or subsidiaries
               to enact any law, ordinance, rule or regulation impairing the
               rights or obligations of any Iowa Entity or any of Lakes
               Management or its respective Affiliates under any of the
               Transaction Documents.

          (c)  Records. It shall or shall cause Iowa Corp to maintain or cause
               to be maintained full and accurate accounts and records for any
               particular Gaming Project and its Project Facilities according to
               GAAP.

          (d)  No Liens. Except as otherwise expressly permitted by the
               Transaction Documents, it shall not and shall not permit Iowa
               Corp or any of its other governmental instrumentalities or
               subsidiaries to cause or voluntarily permit any lien or
               encumbrance to be created on the Project Facilities for any
               particular Gaming Project, any Gaming Project's Gaming Facility
               Site or any proceeds of the Gaming Project Permanent Financing.

          (e)  No Tax. It shall not and shall not permit Iowa Corp or any of
               their other governmental instrumentalities or subsidiaries to
               impose any tax, fee or assessment on any of Lakes Management, its
               respective Affiliates, any Contractor, any Gaming Project and its
               Project Facilities, and/or any of the Transaction Documents other
               than the fees and assessments described in clause (c) of the
               definition of "Costs of Operations" as set forth in the
               Management Contract.

          (f)  Gaming Project Ownership. Except as otherwise expressly excluded
               under the Transaction Documents, all Gaming Projects shall be
               owned and operated by Iowa Corp; provided that a Gaming Project
               may be owned and operated by another subsidiary of the Iowa Tribe
               so long as prior to acquiring such ownership: (i) if the Project,
               Gaming Facility and Project

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               Facilities described and defined in the Management Contract are
               owned by such other subsidiary, such subsidiary has entered into
               a Management Contract and related documents with Lakes Management
               and/or its Affiliates with respect thereto on the same terms and
               conditions as are set forth in the Management Contract and the
               Transaction Documents related thereto, (ii) with respect to any
               other gaming projects owned or to be owned by such other
               subsidiary, the subsidiary has entered into a written agreement
               with Lakes Management and/or its Affiliates granting such entity
               the same right of first refusal to manage such projects as has
               been granted to Lakes Management under the terms of Section 9.21
               of the Management Contract; (iii) Lakes Management shall have
               received the following, each in form and substance reasonably
               acceptable to it: (aa) certified copies of the organizational
               documents of the new subsidiary, together with reasonable
               evidence that such subsidiary is wholly owned by the Iowa Tribe,
               (bb) new Resolutions of Limited Waiver with respect to all of
               such documents and agreements from each of the new subsidiary and
               the Iowa Tribe containing substantially the same resolutions and
               terms as set forth in the Resolutions of Limited Waiver received
               by Lakes Management in connection with the execution of the
               original Transaction Documents, (bb) legal opinions from counsel
               to each of the new subsidiary and the Iowa Tribe with respect to
               the such new documents and agreements containing substantially
               the same opinions as provided to Lakes Management in connection
               with the execution of the original Transaction Documents, and
               (cc) the Iowa Tribe shall have executed and delivered an
               amendment to this Agreement incorporating all such new documents
               and agreements as additional "Transaction Documents" hereunder
               and such projects and related assets shall be subject to the same
               terms and restrictions set forth herein; and (iv) at the time of
               satisfaction of the foregoing conditions, no "Event of Default"
               by any Iowa Entity under the Transaction Documents has occurred
               and is continuing.

                                    ARTICLE 4
                                EVENTS OF DEFAULT

     Section 4.1 Events of Default. Each of the following shall constitute a
"Event of Default" under this Agreement:

     (a)  A Material Breach by the Iowa Tribe exists. As used in this paragraph,
          the term "Material Breach" shall mean any of the following
          circumstances (i) material failure of the Iowa Tribe to perform a
          material obligation hereunder or any other Transaction Document to
          which it is a party, or (ii) any representation or warranty made
          pursuant to Section 2.1 hereof proves to be knowingly false or
          erroneous in any material way when made or at any time shall fail to
          be true and correct in all material respects.

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<PAGE>

     (b)  The Iowa Tribe violates any of the covenants in Section 3.1 of this
          Agreement, and after sixty (60) days have passed following a request
          by Lakes Management to such Iowa Entity to cure the violation, during
          which the violation has not been cured.

     (c)  The Iowa Tribe has: (i) filed for relief under the United States
          Bankruptcy Code or has suffered the filing of an involuntary petition
          under the Bankruptcy Code that is not dismissed within sixty (60) days
          after filing; (ii) a receiver appointed to take possession of all or
          substantially all of such entities property; or (iii) suffered an
          assignment for the benefit of creditors.

     (d)  The Iowa Tribe is no longer an Indian tribe eligible to conduct gaming
          within the meaning of IGRA.

     Section 4.2 Cure of Event Default. Upon the occurrence of an Event of
Default, Lakes may provide written notice to the Iowa Tribe of such default and,
if it is possible for such party to cure the Event of Default, it shall have
thirty (30) days following receipt of notice to effect a cure; provided,
however, that if the nature of such breach (but specifically excluding breaches
curable by the payment of money) is such that it is not possible to cure such
breach within thirty (30) days, such thirty-day period shall be extended for so
long as either Iowa TDC or Iowa Tribe, as applicable, shall be using diligent
efforts to effect a cure thereof but no more than an additional sixty (60) days.
Upon the occurrence of any of the events described in Section 4.1 and during any
applicable cure period, Lakes Management may suspend its performance under the
Transaction Documents. The discontinuance or correction of an Event of Default
shall constitute a cure thereof. If the Iowa Tribe fails to cure the Event of
Default within the 30-day period, Lakes Management may take any one or more of
the following actions: (a) suspend all performance of Lakes Management under the
Transaction Documents; (b) declare all obligations of any Iowa Entity under the
Transaction Documents to be immediately due and owing, (c) terminate the
Management Contract; and/or (d) pursue any other remedy available at law, in
equity or by agreement, subject to the provisions of Article 5 hereof.

                                    ARTICLE 5
              DISPUTE RESOLUTION; WAIVERS OF SOVEREIGN IMMUNITY AND
                    TRIBAL COURT JURISDICTION; GOVERNING LAW

     Section 5.1 Dispute Resolution. The parties agree that any Claim shall be
governed by the following dispute resolution procedures:

     (a)  The parties shall use their best efforts to settle the Claim. To this
          effect, they shall consult and negotiate with each other in good faith
          and, recognizing their mutual interests, attempt to reach a just and
          equitable solution satisfactory to both parties. If they do not reach
          such solution within a period of ten (10) days, then, upon notice by
          either party to the other, all Claims shall be settled by arbitration
          administered by the American Arbitration Association in accordance
          with the provisions of its Commercial Arbitration Rules in effect at
          the time of submission;

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          except that: (a) the question whether or not a Claim is arbitrable
          shall be a matter for binding arbitration by the arbitrators, such
          question shall not be determined by any court and, in determining any
          such question, all doubts shall be resolved in favor of arbitrability;
          and (b) discovery shall be permitted in accordance with the Federal
          Rules of Civil Procedure, subject to supervision as to scope and
          appropriateness by the arbitrators. Unless the parties otherwise agree
          to in writing, arbitration proceedings shall be held at Oklahoma City,
          Oklahoma.

     (b)  The arbitration proceedings shall be conducted before a panel of three
          neutral arbitrators, all of whom shall be currently licensed
          attorneys, actively engaged in the practice of law for at least ten
          (10) years, one of which shall have five (5) years of experience in
          federal Indian law, and one of which shall have five (5) years of
          experience in the gaming industry. The arbitrator selected by the
          claimant and the arbitrator selected by respondent shall, within ten
          (10) days of their appointment, select a third neutral arbitrator. In
          the event that they are unable to do so, the parties or their
          attorneys may request the American Arbitration Association to appoint
          the third neutral arbitrator. Prior to the commencement of hearings,
          each of the arbitrators appointed shall provide an oath or undertaking
          of impartiality.

     (c)  The arbitration award shall be in writing signed by each of the
          arbitrators, and shall state the basis for the award. The arbitration
          award shall be set forth in reasonable detail as to its findings of
          fact and law, and basis of determination of award form and amount.
          Except to the extent such enforcement will be inconsistent with a
          specific provision of this Agreement, arbitration awards made pursuant
          to this Article 5 shall be enforceable in federal court under Title 9
          of the United States Code and any applicable tribal, federal or state
          law governing the enforcement of arbitration awards. In addition to
          any basis for appeal of an arbitration award stated in Title 9 of the
          United States Code or any applicable law governing the enforcement of
          arbitration awards, either party hereto may appeal an arbitration
          award on the basis that the arbitrators incorrectly decided a question
          of law in making the award, or the award was made in an arbitrary or
          capricious manner or in manifest disregard of the factual evidence.

     (d)  Either party hereto, without having to exhaust any tribal remedies
          first, shall have the right to seek and obtain a court order from a
          court having jurisdiction over the parties requiring that the
          circumstances specified in the order be maintained pending completion
          of the arbitration proceedings, to the extent permitted by applicable
          law.

     (e)  Judgment on any arbitration award may be entered in any court having
          jurisdiction over the parties. The arbitrators shall not have the
          power to award punitive, exemplary or consequential damages, or any
          damages excluded by or in excess of any damage limitations expressed
          in this Agreement.

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     (f)  The Iowa Tribe hereby expressly waives, and also waives its right to
          assert, sovereign immunity and any and all defenses based thereon with
          respect to any Claims; and such parties further hereby consents to (i)
          binding arbitration under the Commercial Arbitration Rules of the
          American Arbitration Association, (ii) to empowering the arbitrators
          to take the actions and enforce the judicial remedies described in the
          Iowa Tribe Resolution of Limited Waiver of Sovereign Immunity,
          Resolution I-05-11, dated January 27, 2005 issued in connection with
          the execution of the Transaction Documents (the "Resolution of Limited
          Waiver"), and (iii) judicial proceedings in or before the United
          States District Court for the Northern District of Oklahoma, or if
          that court determines it is without jurisdiction, then to the courts
          of the State of Oklahoma and all courts to which an appeal therefrom
          may be available, but solely to compel, enforce, modify or vacate any
          arbitration award.

     (g)  To the extent lawful in connection with any such Claims, the Iowa
          Tribe expressly waives the application of the doctrines of exhaustion
          of tribal remedies or comity that might otherwise require that Claims
          be heard first in tribal court or other tribal forum of the Iowa
          Tribe. The waivers set forth herein only extend to claims or
          proceedings brought by Lakes Management and its Affiliates and any
          award of damages against the Iowa Tribe or its Affiliates shall be
          payable solely out of the Collateral (as defined in the Resolutions of
          Limited Waiver) whether now or hereafter owned by Iowa Corp, any other
          Iowa Entity or their Affiliates.

     (h)  The Iowa Tribe, on behalf of itself and each of its Affiliates, agrees
          that any arbitration proceeding hereunder may be consolidated with any
          other arbitration proceeding that any of Lakes Management or its
          respective Affiliates may bring against Iowa Corp or any other
          Affiliates of the Iowa Entities.

     Section 5.2 Governing Law. This Agreement is governed by the laws of the
State, except that the State's conflict of laws provisions shall not apply.

                                    ARTICLE 6
                                  MISCELLANEOUS

     Section 6.1 Assignment. The rights and obligations under this Agreement
shall not be assigned or subcontracted by any party without the prior written
consent of the other party; provided, however, Lakes Management may assign this
Agreement to a wholly owned subsidiary without the consent of the Iowa Tribe;
provided further that Lakes Management, as applicable, shall remain obligated
for the performance of its subsidiary hereunder. Other than as expressly
provided in this Section 6.1, any attempted assignment or subcontracting without
prior written consent shall be void. Subject to the preceding requirements, this
Agreement is binding upon and inures to the benefit of the parties and their
respective successors and assigns.

     Section 6.2 Notices. Any notice, consent or any other communication
permitted or required by this Agreement: (a) must be in writing; (b) shall be
effective three (3) days after the

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<PAGE>

date sent; (c) must be delivered by personal service, via fax with reasonable
evidence of transmission, express delivery or by certified or registered mail,
postage prepaid, return receipt requested; and (d) until written notice of a new
address or addresses is given, must be addressed as follows:

If to the Iowa Tribe:   Iowa Tribe of Oklahoma
                        RR 1, P.O. Box 721
                        Perkins, OK 74059
                        Attn: Chairman

With a Copy to:         David McCullough, Esq.
                        Doerner, Saunders, Daniel & Anderson, L.L.P.
                        211 N. Robinson Ave. Suite 501
                        Oklahoma City, OK 73102-7112
                        (copy to counsel does not constitute notice to a party)

If to Lakes:            Lakes Iowa Management, LLC
                        130 Cheshire Lane
                        Minnetonka, MN 55305
                        Attn: Timothy J. Cope

With a Copy to:         Kevin C. Quigley, Esq.
                        Hamilton Quigley Twait & Foley PLC
                        W1450 First National bank Building
                        332 Minnesota Street
                        St. Paul, MN 55101-1314

     and                Brian J. Klein, Esq.
                        Maslon, Edelman, Borman & Brand, LLP
                        3300 Wells Fargo Center
                        90 South Seventh Street
                        Minneapolis, MN 55402-4140
                        (copy to counsel does not constitute notice to a party)

     Copies of any notices shall be given to the Gaming Commission at its last
known address.

     Section 6.3 Amendments. This Agreement may be amended only by written
instrument duly executed by all of the parties and with any and all necessary
regulatory approvals, if any, required by Legal Requirements.

     Section 6.4 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same agreement.

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<PAGE>

     Section 6.5 Preparation of Agreement. This Agreement has been carefully
prepared and reviewed by counsel for each party hereto and may not be construed
more strongly for or against any party.

     Section 6.6 Compliance with Legal Requirements. All parties shall at all
times comply with all Legal Requirements.

     Section 6.7 Further Assurances. The parties agree to do all acts and to
deliver all necessary documents as from time to time are reasonably required to
carry out the terms and provisions of this Agreement, including the filing of
financing statements and related security instruments described herein.

     Section 6.8 Cooperation; Approvals. Each of the parties agrees to cooperate
in good faith with the other to timely implement the purposes of this Agreement.
Any consents or approvals required to be given in connection with this Agreement
shall not be unreasonably withheld or delayed by the parties or their
Affiliates.

     Section 6.9 Confidentiality. Except as required by Legal Requirements,
including but not limited to, reporting requirements imposed on publicly traded
companies, each of the parties agrees that all non-public information exchanged
between the parties with respect to any particular Project shall be kept
confidential by each party and only disclosed to that party's legal counsel,
financial advisors or as reasonably required to be disclosed in connection with
the Project, including in connection with obtaining the Project Permanent
Financing.

                            [Signature Page Follows]

                                       11

<PAGE>

     The parties have executed this Tribal Agreement as of the date stated in
the introductory clause.

                                        IOWA TRIBE OF OKLAHOMA
                                        A FEDERALLY RECOGNIZED INDIAN TRIBE

                                        By /s/ Phoebe O'Dell
                                           -------------------------------------
                                        Its: Chairperson
                                             -----------------------------------

                                        By /s/ Eugene Big Soldier JR
                                           -------------------------------------
                                        Its: Secretary
                                             -----------------------------------

                                        LAKES IOWA MANAGEMENT, LLC

                                        By /s/ Timothy Cope
                                           -------------------------------------
                                           Timothy J. Cope
                                        Its: President and Chief Financial
                                             Officer

             [Signature Page to Iowa Tribal Agreement - Management]exv10w144

 

Exhibit 10.144

Metroflag Polo, LLC

6430 Schirlls Street

Las Vegas, Nevada 89118

March 17, 2005

Grand Casinos Nevada I, Inc.

c/o Lakes Entertainment, Inc.

130 Cheshire Lane

Minnetonka, MN 55305

     RE: Metroflag Polo, LLC Special Member Interest Repurchase Option

     This letter agreement (“Option Agreement”), which is effective as of the date first set forth
above (the “Effective Date”), serves to confirm our agreement as follows:

     1. Grand Casinos Nevada I, Inc., a Minnesota corporation (“Special Member”) holds two Special
Member Interests (the “Interests”) in Metroflag Polo, LLC, a Nevada limited liability company (the
"Company”), consisting of the Special Member Priority Interest and the Special Member Subordinated
Interest (all as defined in and under the terms of that certain Operating Agreement of Metroflag
Polo, LLC, dated as of May 8, 2003, as amended by that certain First Amendment to Operating
Agreement, dated as of May 15, 2003, and that certain Letter Agreement dated as of December 14,
2004 (collectively, the “Operating Agreement”)). The repurchase of the Interests is governed by
the Operating Agreement.

     2. Contingent upon Special Member’s receipt of the Initial Option Payment described below,
Special Member hereby grants to the undersigned other Members (as defined in the Operating
Agreement), jointly, the exclusive and irrevocable option (“Option”) to purchase all, but not less
than all, of the Interests in accordance with the following provisions:

          (a) The purchase price (“Purchase Price”) for the Interests shall be a fixed price of Five
Million Dollars ($5,000,000.00), irrespective of the actual date of exercise and closing of the
Option (“Closing”); provided that Closing occurs on or prior to the Initial Closing Date or
Extended Closing Date, as applicable.

          (b) The Members shall make an initial option payment of Two Hundred Fifty Thousand Dollars
($250,000.00) (the “Initial Option Payment”) to Special Member within two (2) business days of the
Effective Date of this Option Agreement.

          (c) The Members intend to exercise and close on the Option on or prior to April 30, 2005 (the
“Initial Closing Date”). However, if Closing does not occur on or before the Initial Closing Date
due to a delay in the Members’ obtaining the requisite financing or to other circumstances beyond
the reasonable control of the Members, the Members shall have the absolute right to extend the
Closing Date to May 31, 2005 (the “Extended Closing Date”); provided that: (i) the Members provide
written

 

 

notice to Special Member, at least two (2) business days prior to the Initial Closing Date,
electing to extend the Closing Date, and (ii) the Members pay to Special Member on or before the
Initial Closing Date an additional option payment of Two Hundred Fifty Thousand Dollars
($250,000.00) (the “Extension Option Payment”) (separately and collectively with the Initial Option
Payment, as the context may require, referred to as the “Option Payments”). If the Members fail to
provide the requisite notice of extension and/or fail to pay the Extension Option Payment on a
timely basis, the Option shall terminate on the Initial Closing Date.

          (d) In the event Closing does not occur on or before the Initial Closing Date (unless properly
extended) or the Extended Closing Date, as applicable, the Option shall terminate and Special
Member shall be entitled to retain the Option Payment(s). In the event that Closing occurs on or
before the Closing Date or the Extended Closing Date, as applicable, the Option Payment(s) shall be
credited towards the Purchase Price.

          (e) Simultaneously upon receipt of the Purchase Price, Special Member shall execute and
deliver such documents as are reasonably required to evidence and consummate the assignment of the
Interests to the Members (or as they may direct), without representation, warranty or recourse
other than the following representations made by Special Member as of the Closing:

               (i) Special Member owns the Interests;

               (ii) the Interests are not encumbered to any extent;

               (iii) Special Member has full right and authority to assign the Interests; and

               (iv) all corporate resolutions or company consents necessary in connection with the assignment
of the Interests by Special Member have been obtained,

which representations shall survive the Closing. Further, upon payment of the Purchase Price, all
rights of Special Member under the Operating Agreement shall terminate, and the Company shall not
owe any additional economic obligations to Special Member.

          (f) The Members shall have the right to assign their rights hereunder as they may elect,
provided that they give Special Member written notice of any such assignment; and, if the Option is
exercised, Special Member shall cooperate to assign the Interests (or either of them) at Closing to
the Members’ assignee(s), or instead to allow the Company to redeem the Interests.

          (g) In the event that the Option is not timely and properly exercised by the Members and,
consequently, Closing does not occur, this Option Agreement shall be of no further force or effect,
and the Members’ failure to exercise the Option shall have no effect on the Company’s existing
obligation to repurchase the Interests as provided in the Operating Agreement, or on the respective
rights and obligations of the Special Member, the Members and/or the Company under the terms of the
Operating Agreement.

2

 

     3. Time shall be of the essence for this Option Agreement. This Option Agreement may be
executed in any number of counterparts, each of which shall be considered to be an original hereof.
Facsimile signatures shall be deemed to have the same force and effect as original signatures.

     4. All notices to be given hereunder shall be in writing, and shall be deemed adequately given
if delivered to the recipient by Federal Express or other nationally recognized courier service
(any notice to be effective on the date actually delivered to the party receiving notice), or by
facsimile (any notice to be effective on the date such facsimile is sent and
confirmed to be received by the party receiving notice if sent prior to 5:00 pm on a business day,
or if sent after 5:00 pm or on a non-business day, as of the following business day) to:

	 	 	 	 	 
	 

	 	If to Special Member, to:
	 	Grand Casinos Nevada I, Inc.
	 

	 	 	 	c/o Lakes Entertainment, Inc.
	 

	 	 	 	130 Cheshire Lane
	 

	 	 	 	Minnetonka, MN 55303
	 

	 	 	 	Attention: Mr. Timothy Cope
	 

	 	 	 	Fax: (952) 449-7064
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Maslon Edelman Borman & Brand, LLP
	 

	 	 	 	3300 Wells Fargo Center
	 

	 	 	 	90 South Seventh Street
	 

	 	 	 	Minneapolis, MN 55402-4140
	 

	 	 	 	Attention: Mark Baumann, Esq.
	 

	 	 	 	Fax: (612) 642-8339
	 
	 	 	 	 
	 

	 	If to the Company, to:
	 	c/o Torino Companies
	 

	 	 	 	6430 Schirlls Street
	 

	 	 	 	Las Vegas, Nevada 89118
	 

	 	 	 	Attention: David Dufenhorst
	 

	 	 	 	Fax: (702) 258-6040
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Greenberg Traurig, P.A.
	 

	 	 	 	1221 Brickell Avenue
	 

	 	 	 	Miami, Florida 33131
	 

	 	 	 	Attention: Juan P. Loumiet, Esq.
	 

	 	 	 	Fax: (305) 961-5525
	 
	 	 	 	 
	 

	 	If to Metro One, LLC, to:
	 	c/o Torino Companies
	 

	 	 	 	6430 Schirlls Street
	 

	 	 	 	Las Vegas, Nevada 89118
	 

	 	 	 	Attention: David Dufenhorst
	 

	 	 	 	Fax: (702) 258-6040
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Greenberg Traurig, P.A.

3

 

	 	 	 	 	 
	 

	 	 	 	1221 Brickell Avenue
	 

	 	 	 	Miami, Florida 33131
	 

	 	 	 	Attention: Juan P. Loumiet, Esq.
	 

	 	 	 	Fax: (305) 961-5525
	 
	 	 	 	 
	 

	 	If to Flag Luxury	 	 
	 

	 	Polo, LLC, to:
	 	c/o Flag Luxury Properties, LLC
	 

	 	 	 	650 Madison Avenue
	 

	 	 	 	15th Floor
	 

	 	 	 	New York, NY 10022
	 

	 	 	 	Attention: Mitchell J. Nelson, Esq.
	 

	 	 	 	Fax: (212) 307-3328
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Greenberg Traurig, P.A.
	 

	 	 	 	1221 Brickell Avenue
	 

	 	 	 	Miami, Florida 33131
	 

	 	 	 	Attention: Juan P. Loumiet, Esq.
	 

	 	 	 	Fax: (305) 961-5525

[SIGNATURE PAGE FOLLOWS]

4

 

     Please execute and return to the Company a copy of this Option Agreement to evidence your
agreement with its terms.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Metro One, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Brett Torino	 	 
	 	 	 	 	Brett Torino, Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Flag Luxury Polo, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Flag Luxury Properties, LLC, its sole member
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	Flag Leisure Group, LLC, its managing member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:
	 	/s/ Paul Kanavos	 	 
	 

	 	 	 	 	 	 	 	 	 	Paul Kanavos, President	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Agreed to this ___ day of March ___, 2005.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Grand Casinos Nevada I, Inc.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Lyle Berman	 	 
	 	 	 	 	Lyle Berman, President	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Agreed to this ___ day of March ___, 2005.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Metroflag Polo, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Metro One, LLC
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Brett Torino
	 	 	 	 	 	 	Brett Torino, Manager
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Flag Luxury Polo, LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Flag Luxury Properties, LLC, its sole member
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	Flag Leisure Group, LLC, its managing member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:
	 	/s/ Paul Kanavos	 	 
	 

	 	 	 	 	 	 	 	 	 	Paul Kanavos, President	 	 

5

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