More than a year after it opened, Red Hawk Casino remains an underperformer.

The company that manages Red Hawk said Friday the Shingle Springs casino is still operating below expectations. It added, however, that it is starting to see better results from a revamped marketing program and new management.

Executives from Lakes Entertainment Inc. of Minneapolis, announcing the management company's fourth-quarter results, cited their disappointment with Red Hawk.

"The uncertain economic environment continues to impact this property's ability to achieve consistently strong results," said Lakes CEO Lyle Berman in a conference call with analysts.

He didn't provide financial results for Red Hawk but said a reduction in fees paid by the casino caused the company's revenue to fall slightly in the quarter, to $5.3 million from $5.5 million. Lakes operates three casinos.

He also said management of Red Hawk has undergone a housecleaning.

"Many of the senior management positions at the property have either been eliminated or replaced," he said. Until Friday, Lakes had revealed only that it had replaced the general manager.

Lakes is taking a more active role in Shingle Springs. "The Lakes team has been … full-time there week to week," said Tim Cope, chief financial officer.

The casino, owned by the Shingle Springs Band of Miwok Indians, cut 250 full-time equivalent jobs, mostly through attrition, in its first few months of operation. That represented 14 percent of the total.

Lakes changed Red Hawk's mix of slot machines and table games, and redirected its marketing efforts to pitch the Bay Area more forcefully.

As a result, "we have seen some positive progress in 2010," Berman said.

Casinos have been hit hard by the recession. Layoffs have taken place at Thunder Valley in Lincoln and Jackson Rancheria.

Last week, though, Thunder Valley said business is improving. It began taking applications for 600 jobs as it prepares for the July opening of its hotel, expanded casino space and other amenities.

Ken Adams, a gambling consultant in Reno, said he's hearing upbeat talk from other casino operators.

Adams said Red Hawk's problems are partly a result of bad timing. It planned a major gambling venue when the economy was healthy and didn't open it until December 2008, when the economy was in a free fall, he said.

"Everybody has to adjust their expectations," he said.