JUNEAU -- A fishing derby to promote lodges in Elfin Cove has been canceled.

The Juneau Empire says the Sea King 2012 derby would have cost $400 to enter, with a grand prize of $100,000 depending on sales.

The problem is that in Alaska only nonprofit organizations can operate gambling enterprises.

Elfin Cove Lodge's Donna Forte says there was no bad intent. She says sponsors hoped to raise $200,000 in entry fees. Forte says that after expenses of about $40,000, an estimated $60,000 would have been left for charity.

She says the derby, which was to promote Icy Strait businesses, has been canceled.

Fishmasters Inn, Tanaku Lodge and the Cove Lodge also were sponsors.