Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Littlefield Corp., an Austin-based operator of bingo halls and other entertainment-related businesses, reported that it made $141,358 on the sale of REIT-related preferred securities.

Littlefield bought the securities for about $610,000 in late 2000 when, it says, it spotted an anomaly in the market related to the pricing of the securities. The dividend rate of return was more than 11.5% for $70,533 and, with the sale of the securities, realized a $141,358 gain. The company said the total rate of return was 34% and will be recorded in the 2001 third quarter.

Littlefield disclosed the gain two days after releasing information on its July performance. It reported earning $55,914 in July, a turnaround from a loss of $369,992 in July 2000. It said the company has usually lost money in the July and August portions of the third quarter because of the seasonality of the bingo business. The company operates charitable bingo halls in the United States and has real estate and hospitality operations.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.