A subsidiary of the Littlefield Corporation announced a contract to purchase a bingo hall in Texas. This purchase brings the company’s bingo club holdings to 33, including two bingo halls that are leased out to other operators. Since the beginning of 2005, this club is the fourth bingo club added to the company’s holdings.
Littlefield Corporation’s President and CEO, Jeffrey L. Minch, commented on the purchase:
"This planned acquisition is an excellent acquisition and is motivated by the seller's orderly retirement from the industry. The pricing conforms to the Company's underwriting criteria and will provide an excellent return on investment. The bingo hall should immediately contribute to earnings in Q4-2005. In addition, there are opportunities for growth at this location and the ability to attract additional charities and to offer more bingo sessions in the long run."
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