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To: Nittany Lion who wrote (7152)	2/6/1998 8:05:00 PM
From: NewGun	Respond to of 10368

To All: Corky is out. biz.yahoo.com

To: Nittany Lion who wrote (7152)	2/6/1998 8:06:00 PM
From: zimmie	Read Replies (1) \| Respond to of 10368

Press release after todays close. Mentioning this in case people don't check news sources on weekends. In short, bingo halls appear to be the dominant business direction; Wilson in, Logue out. Speculation about disagreements about company direction seem correct. Bingo consolidation was the original plan and it seems Wilson intends to keep it so.

To: Nittany Lion who wrote (7152)	2/6/1998 8:09:00 PM
From: SE	Respond to of 10368

Gary, It is good to be back and have some of the old timers returning. I can't wait for the TA websites to up-date their numbers later tonight to see if the chart is turning for us. I believe it is, although I would have liked to have closed above $4. For a while there I thought we would. Trouble is this stock has such a small float that if one person decides they don't want to hold over the week-end the stock can end up down on the day. It doesn't take much to get this one moving, unfortunately, down is easier than up. Personally, I have decided the heck with 18 months! I don't think it will take that long and since this stock is so volatile I want to trade it and make profits along the way. If I had held all the way down, I would not own as many shares as I will when we go back up. I sold and rebought several times from $6 on down. I now have a core position I probably will not touch barring any unforeseen circumstances and will trade the rest. Probably 20% hold and 80% trade or so. By the way, we have a potential problem area to get through. This was brought to my attention earlier today by a private post and I wish to share this with the thread. I hope the person who sent it to me doesn't mind. I eventually would have gotten around to it anyway, but I hadn't as of yet. We have a problem with first quarter earnings. My calculations come to $.10 per share and consider taxes at 35% and 9.5 million shares. Without any quick acquisitions or another pooling (which I don't think will happen as we now have cash to finance acquisitions) I don't see us breaking the $.10 barrier. That being said, I hope that fourth quarter only comes in around $.11 or so, so that quarter to quarter we don't get killed. I believe that by second quarter this year, we will be back to nice earnings growth, but we may all wish to consider whether or not we will hold our shares through the first quarter's announcement. Of course, on the other hand, perhaps the "pros" have already done these calculations by quarter and realize that earnings growth is slowing from third to fourth to first quarter and therefore we are at $4. It may be another reason for us being where we are, but nonetheless I thought I would share this with the thread. I will do a second quarter estimate once we get some direction from the company. Without knowing what they plan or what acquisitions are on the table, it is very difficult to get these estimates even close to reality. Well enough rambling. Time for BNGO to return to respectability. Freeus, you still with us???? -Scott

To: Nittany Lion who wrote (7152)	2/6/1998 8:14:00 PM
From: Yamakita	Read Replies (1) \| Respond to of 10368

Corky's history!! American Bingo & Gaming Corp. Announces Executive Changes and New Accounting Firm; Announces New Acquisition; Schedules Annual Meeting February 6, 1998 07:27 PM AUSTIN, Texas, Feb. 6 /PRNewswire/ -- American Bingo & Gaming Corp. BNGO announced today that Greg Wilson, Chief Executive Officer of the Company, will expand his role to include Chairman of the Board of Directors. Mr. Courtland Logue, who has been Chairman of the Board since 1996, will step down from his position as Chairman and director to pursue other opportunities. Mr. Wilson held the post of Chairman of the Board prior to Mr. Logue joining American Bingo. The Board of Directors of the Company appointed Mr. George Harrison to replace Mr. Logue on the Board. Mr. Harrison is the Vice-President of Darlington Music, Inc., a company recently acquired by American Bingo. In further news, the Company announced that the Company has changed its accounting firm to BDO Seidman of Dallas, replacing King, Griffin & Adamson of Dallas, commencing with the 1997 fiscal year audit. BDO Seidman is the world's seventh largest accounting firm, with offices throughout the United States and in eighty countries. The Company did not have any disagreements with King, Griffin & Associates, its previous auditors. Mr. Wilson explained: "This change is the natural result of the recent expansion of our Company. During the last year we have grown very rapidly and we are making this change to enhance our financial accounting." The Company also announced that it has entered into a letter of intent to acquire a bingo hall in Texas from Ambler Bingo, Inc., subject to due diligence and final documentation. The Company announced last week that it would acquire three bingo halls in Mississippi as part of its plan to consolidate the bingo industry. Mr. Wilson stated, "I have been negotiating these deals for quite some time now, and our strength in the industry has helped us to reach agreement with the current owners." Mr. Wilson also noted that he is negotiating for the acquisition of an additional 10 to 15 bingo halls which he hopes to conclude in the near future. "These negotiations are in various stages, but are moving forward. We want to be the dominant player in our business. Our continuing acquisition program will help to further that goal," said Mr. Wilson. As a further step in its growth plan, the Company also announced that it has retained Gaines Berland, Inc., a New York investment banking firm, as financial advisor to review various strategic alternatives to enhance shareholder value. The Company expects to issue a detailed press release and conduct an investors' conference call next week to discuss its current business plan, earnings outlook and planned expansion. Finally, the Company announced that its annual shareholders meeting will be held on June 5, 1998 at 10:00 a.m. in Austin, Texas. The record date for such meeting is March 30, 1998. American Bingo is the market leader in the North American charitable bingo market. The Company derives revenues from its bingo centers in Texas, Alabama and South Carolina, and also generates significant revenues from its video gaming operations in South Carolina. Except for historical information contained herein, certain matters set forth in this press release are forward looking statements that are subject to risks and uncertainties, including government regulation and taxation, customer attendance and spending, competition, general economic conditions and other risks detailed in the Company's SEC reports. SOURCE American Bingo & Gaming Corp.