SOURCE: Beneficial Holdings, Inc.

October 26, 2009 09:01 ET

Beneficial Holdings to Create New Gaming Concept

LAS VEGAS, NV--(Marketwire - October 26, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today announced that it formed Recreaciones Beneficial, S.A. in Nicaragua to create a new gaming concept. Recreaciones Beneficial is 97% owned by Beneficial Holdings, Inc.

While regular casinos and slot parlors are growing rapidly as entertainment options, Beneficial Holdings, Inc. recognizes that there is a time for innovation.

Recreaciones Beneficial plans to create gaming centers that add entertainment and fun along with the ability to win cash prizes.

The initial concept will include a bar with live music within the gaming center. Instead of games such as poker, blackjack, and roulette, the centers will have the type of games that are found in fair and amusement park settings. Skee ball, money wheels, mini bingo, chuck a luck, pull tabs, coin boards, video horse racing, and other games will be prevalent. The only traditional games that will be at the facilities will be electronic games (slot and poker machines) and a craps table. Instead of ritzy food offerings, hot dogs, cheese fries, popcorn, nachos and munchies will be available.

While Recreaciones Beneficial is presently negotiating the location of its first establishment, the concept is new and different and will require certain regulatory approvals. As such, the Company does not believe that it will be able to break ground until early 2010. Nevertheless, the Company will be ready to go as it has already prepared orders for the necessary equipment to be imported to Nicaragua.

Nicaragua was chosen as the flagship location because there are a large number of people that enjoy night entertainment, but there are limited options available to them.

This press release does not constitute an offer of any securities for sale. It contains certain 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 actual results to differ. All statements in this press release are based on information available as of the date hereof, and the company undertakes no obligation to update any statement to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:
    Investor Relations
    Beneficial Holdings
    Email Contact
    (702) 522-1527