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Beneficial Holdings Starts Search for a United States-Based Gaming Executive(January 27, 2012)
MANAGUA, NICARAGUA -- (Marketwire) -- 01/27/12 -- Beneficial Holdings Inc. (PINKSHEETS: BFHJ), which manages www.sportsbook.cr and www.bet.cr by Beneficial live-dealer casinos and sportsbooks and gaming parlors in Nicaragua today announced that it will recruit and hire a United States-based executive to oversee their entry into the North American gaming market.
The company believes that, with its Line of Credit and the pending divestiture of its non-gaming assets, it can enter the domestic gaming market either with online operations (if it is determined to be legally viable) or in a bricks-and-mortar operation. The Company is also exploring opening intrastate gaming operations in states where online gaming is not prohibited. With intrastate-only offerings, and strong state residency verification, the Company can operate without affecting interstate commerce, eliminating federal oversight.
The Company's Board of Directors gave considerable thought to this strategy and has concluded that it is the correct move to increase revenues and the profile of the company.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is an international hotel and casino holding company, specializing in acquiring undervalued gaming assets. The Company also owns a bar and casino in Managua, a slot parlor in Masaya, Nicaragua with other properties either under development or in various negotiation stages. The Company operates www.bet.cr and www.sportsbook.cr enabling non-United States residents to utilize its live dealer systems.
This release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update statements to reflect future occurrences.
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