Message #52 From:
NewsBot Date: May 9, 2008 03:12:06 PM
Littlefield Corporation Announces Successful Opening of New Corpus Christi Bingo Hall
Littlefield Corporation (OTCBB: LTFD) announced today that its
Crosstown Bingo hall in Corpus Christi, Texas successfully opened for
business on May 8, 2008. This brings the total number of operating bingo
halls in the Company’s portfolio to thirty-two
(32). A significant crowd of bingo players lined up outside the hall in
anticipation of its grand opening.
Negotiations are underway to add additional charities in the immediate
future. Sessions will be added until the hall is operating two (2)
sessions per day, seven (7) days per week. Sessions currently being
played are complimentary to other bingo halls in the Corpus Christi
market.
Jeffrey L. Minch, President and CEO of Littlefield Corporation, made the
following comment:
“We selected Corpus
Christi for its strong demographics and are encouraged by the initial
acceptance. We dramatically improved the location with new audio-visual
equipment, tables, chairs, among other customer-centric changes. This is
a welcome addition to our portfolio of Texas bingo halls and we look
forward to good results. We expect to build on this initial success by
adding more charities and sessions at complementary playing times.
I am confident that Crosstown Bingo will contribute to the Company’s
revenue and profits after the usual initial ramp-up period.
The successful opening of Crosstown Bingo is the product of a lot
of hard work by our associates in Texas.”
Investors are always cautioned to be careful in drawing conclusions from
a single press release, the Company’s
performance in a single quarter or the individual opinions of any member
of the Company’s management in making their
individual investment decisions.
Littlefield Corporation is a Delaware Corporation headquartered in
Austin, Texas whose corporate subsidiaries are involved as licensed
commercial lessor and promoter (in South Carolina only) with thirty-two
(32) charitable bingo halls in Texas, South Carolina, Alabama and
Florida. The Company has also announced plans to open two halls in El
Paso and McAllen, Texas later in the year. Over 100 charities conduct
bingo in these charitable bingo halls and in 2007 earned $3,700,000 to
fund their noble causes. In addition, the Company owns Premiere Tents &
Events (party rental company).
In accordance with the safe harbor provisions of the Private
Securities Reform Act of 1995: except for historical information
contained herein, certain matters set forth in this press release are
forward-looking statements that are subject to substantial risks and
uncertainties, including government regulation, taxation, competition,
market risks, customer attendance, spending, general economic conditions
and other risks detailed in the Company’s
Securities and Exchange Commission filings and reports.
