CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!

Gaming News

 

American Bingo Announces Proposed New Name

17 May 2000

AUSTIN, Texas, May 16 (Press Release) -- American Bingo & Gaming Corporation (Nasdaq: BNGO - news) announces that it is contemplating changing its name from American Bingo & Gaming Corporation to Littlefield Corporation.

In conjunction with this proposed name change, the Company's stock would trade under the symbol: "LTFD". The Company's stock would continue to trade on the Nasdaq Small Cap Market.

The appropriate names, stock trading symbol and website have been reserved pending finalizing this decision. This name change will also require a change in the Company's CUSIP which information will be forthcoming should the proposed action be consummated. The Board of Directors and Management of the Company are unanimous in supporting this proposed name change.

The Company is soliciting comments from its shareholders on the proposed name change. If no serious objection is received, the Company intends to change its name on or about 1 June 2000.

In commenting on the proposed name change Jeffrey L Minch, the President of American Bingo offered the following:

"The move to Texas from South Carolina has begun. In many ways this represents a new beginning for the Company. I have heard many comments about the Company's name and the adverse business exposure that has been attached to its recent troubled history. This proposed name change is an opportunity to start a new and to begin a new tradition of trust and performance between our Company and its owners."

Comments about the proposed name change should be directed to:

Jeffrey L Minch

President

American Bingo

1250 Frost Bank Plaza

Congress Avenue @ 9th Street

Austin, Texas 78701

512-476-5141 PH

512-476-4680 FX

jminch@ambingo.com

American Bingo is engaged in the development and operation of charitable bingo halls. Qualified charities are able to fund their worthy causes by offering consumers entertainment in the form of bingo games—subject to strict regulatory oversight—for which the charities pay rent to American Bingo for the use of the facility subject to long standing leases. American Bingo has relationships with over 60 such charities.

Charities playing in American Bingo halls received approximately $3,200,000 in 1999 to fund their noble causes.

American Bingo is the only public company attempting to strategically consolidate this $12,000,000,000 arcane, niche industry and is currently the largest public company operating charitable bingo halls in the United States. American Bingo operates twenty (20) bingo halls in Texas, Alabama and South Carolina and is currently developing two (2) new bingo halls in Alabama that will commence operations in 2000.

For Additional Information:

Jeffrey L Minch

President

American Bingo

512-476-5141 PH

512-476-5680 FX

jminch@ambingo.com

< Gaming News