In addition, Littlefield said, it plans to renovate its Austinbingo hall at 1919 E. Riverside Drive later this year and isdeveloping two additional bingo halls in Alabama. LittlefieldAmusements also is in the process of deploying 1,000 amusementmachines to Alabama while Littlefield Real Estate will undertake ashopping center renovation West Columbia, SC. The corporationoperates 19 bingo halls in AL, SC and TX.

Littlefield president Jeffrey L. Minch has declined to providespecific details of the transactions, simply saying one acquisitionis located in a new market and the other is situated in a statewhere Littlefield already has a bingo hall. "The transaction istherefore both strategic and expansionary," says company officials."Initial indications are that the transaction conforms to thecompany's internal financial return thresholds. The value of thetransaction is approximately $5 million."

The acquisition is subject to agreement between the seller andLittlefield on a definitive purchase and sale agreement, completionof the company's due diligence, the attainment of third partyfinancing and final board approval, emphasizes Minch. Partialseller financing has been offered. No further disclosures will beissued a definitive agreement is executed and due diligence iscompleted.