SOURCE: Beneficial Holdings, Inc.

Beneficial Holdings Inc.  (Pink Sheets:  BFHJ)

April 16, 2010 08:45 ET

Beneficial Holdings, Inc. Updates Shareholders Regarding Current Company Operations

LAS VEGAS, NV--(Marketwire - April 16, 2010) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino and hospitality investment and management holding company, today issued guidance regarding the company going forward.

Beneficial Holdings currently operates three properties. The Vereda Tropical casino near the Huembes Market in Managua, Nicaragua, location offers casino gaming, a full bar, and food. Secondly, the Company also operates the Buchona casino gaming parlor in Masaya, Nicaragua. Thirdly, the Company owns and operates the Hotel Beneficial Las Palmas, a hotel in the Montoya, Las Palmas, area of Managua. The Company plans the hotel's grand opening April 23, 2010.

The Company is currently developing an online presence through a digital casino that will be available via www.bet.cr. The online casino will offer a downloadable program that will enable customers from non-United States areas to play their favorite table and slot games. The company has licensed the casino in Costa Rica. The Company anticipates that they will have its beta version completed very soon and will be ready to mail disks to consumers by May. The online site is still being developed and is in the testing stages. We are hopeful that the model will provide a revenue stream and customer loyalty similar to online casinos such as bodog.com and Virgin Games.

The Company is aggressively pursuing the previously announced purchase of seven gaming locations throughout Nicaragua. The Company has already acquired the Buchona location through this arrangement. The current understanding, although it has been delayed due to legal and permit issues, remains on track. The Company also expects to take possession of a location in Tipita, Nicaragua, over the next few weeks. The remaining locations should be acquired and consolidated within our portfolio during the summer of 2010.

The Company also is presently negotiating 39 slot parlor locations throughout Nicaragua. This acquisition would generate revenue of $10,250,000 in addition to current revenues.

In 2009, BFHJ made an offer to acquire Thunderbird Resorts' (TBIRD) capital stock for $42,000,000. TBIRD responded by issuing a poison pill offering that would have significantly diluted its stock. 

"We are pleased with our progress into the gaming industry in Central America, however we are now more aggressive than ever as to our plans to acquire or develop more locations as we believe this is the place to be for casino gaming," said Alex Papic, Vice President of Beneficial Holdings.

About Beneficial Holdings:

Beneficial has 903,000,000 shares authorized and no plans to increase its authorized shares. The majority of the shares are restricted, such as the control block, and these shares cannot be traded. Less than 275,884,651 free trading shares exist. There are 627,115,349 long term restricted shares. The Company previously issued a 6 for 1 share dividend to create liquidity. While the stock is more liquid, the price has actually fallen and the stock continues to suffer from what appears to be day trading and short trading. According to daily reports released by FINRA, on some days, between 60 and 90 percent of the Company's share trading volume is a result of short selling. The Company is looking into methods to curtail this manipulation and to bring more transparency and value to the shareholders.

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 any statement to reflect future occurrences.

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