American Bingo announces significant acquisition.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , Texas--(BUSINESS WIRE)--Sept. 13, 1996--American Bingo & Gaming Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BNGO) today announced that it has signed a letter of intent to acquire three bingo centers in Mississippi Mississippi, state, United States Mississippi (mĭs'əsĭp`ē), one of the Deep South states of the United States. It is bordered by Alabama (E), the Gulf of Mexico (S), Arkansas and Louisiana, with most of the border formed by . These three centers will increase the number of centers under Company operation from 12 to 15. The Company expects to complete the acquisition in the fourth quarter of 1996. The acquisition will be financed thru a stock-for-stock exchange plus cash. Further terms were not disclosed. Corky cork·y adj. cork·i·er, cork·i·est 1. Of or resembling cork. 2. Informal Lively; buoyant. cork Logue, president, stated that American Bingo was pleased with this acquisition. He also added that the Company expects to make several additional acquisitions in the near future. "We have successfully returned the Company to profitability in 1996 and we are now positioned to re-accelerate our growth. We look forward to making acquisitions a regular event at American Bingo." CONTACT: American Bingo & Gaming Corp., Austin Greg Wilson
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