AUSTIN, Texas - (Business Wire)
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.
Littlefield Corporation
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
FX: 512-476-5680
cwhitmore@littlefield.com
