The game of bingo has gone down a roller coaster sort of popularity path over the last half century. Dating back nearly 500 years, the game’s history, which was originally called “beano”, can be traced back to a 1530’s Italian lottery called “Lo Giuoco del Lotto D’Italia,” which is still played every Saturday in Italy.
The game did not reach the United States until the time of the Great Depression, but continued to rise in popularity until it peaked in the 1970’s. Eventually, the game was plugged with an “uncool” stigma and linked to the elderly, but thanks to a concerted effort by the bingo industry, the game has made a remarkable comeback. Globally, the game has a strong online presence and has also brought about a resurgence in the fundamental aspect of socialization that surrounded the game many years ago. Now, not only is it a thriving community of online players, predominantly women, but bingo halls are gaining again in popularity and also going digital.
Austin, Texas-based Littlefield Corp. develops, owns, and operates charitable bingo halls called Littlefield Entertainment in the United States. The Company is growing and operating with positive cash flow, positive earnings, and controlled expenses. It is almost ironic in today’s world where everyone is focused on cutting-edge technologies and re-inventing the wheel; Littlefield operates with some “good ‘ol fashion” business practices and philosophies. With a struggling economy, Littlefield is capitalizing by putting cash into what they like to call “Adventureless Capital.” The Company’s targets are not the most high-tech, cutting edge or glamorous businesses around, but while those businesses may come and go, Littlefield believes that its business will be around for many years to come.
Littlefield owns and operates 36 charitable bingo halls in Texas, Alabama, Florida, and South Carolina, and the Company is not done adding to its portfolio of halls. In November of 2010, Littlefield announced that it had signed an asset purchase agreement for another hall in South Carolina; then yesterday it was announced that the deal has been completed. In the latter part of 2010, Littlefield announced that it intends to continue its acquisitions with a target of owning 75 bingo halls within the next three years.
In business, sometimes the obvious gets overlooked and what is regarded as archaic by some is revived to flourish by others. With all the technology companies in the publically-traded space, stumbling across Littlefield Corp. is like a breath of fresh air. It may seem a little boring to many, but to Littlefield their operations are predictable, logical, consistent and profitable.
Additional information on Littlefield Corporation can be found on the Company’s website at www.littlefield.com