SOURCE: Beneficial Holdings, Inc.

bet.cr by Beneficial worldwide casino affiliate network

October 21, 2010 09:33 ET

Beneficial Holdings Affiliates Agree to Purchase Location for Gaming in Masaya, Nicaragua

MASAYA, NICARAGUA--(Marketwire - October 21, 2010) -  Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), announced that, through its subsidiaries in Nicaragua, it has agreed to purchase a second location for gaming in Masaya, Nicaragua. The location is on a main commercial street and will contain a slot parlor with approximately 25 gaming machines. The building will be purchased free and clear without any mortgage. The transaction is expected to close within fourteen business days as all details have been agreed upon.

"The business district in Masaya, Nicaragua, is rapidly expanding with tourism as the city is becoming a hot spot for visitors. We feel that having multiple locations in the city will be lucrative in the coming years," said Carolina Navarro, President of Beneficial Holdings, Inc.

The Company's subsidiaries will manage the slot parlor and will distribute gaming disks for its bet.cr casino from the location. Management believes the operation will be fully functional within sixty (60) days. It will carry the bet.cr by Beneficial name.

ABOUT BENEFICIAL HOLDINGS, INC.

Beneficial Holdings, Inc. is a casino investment holding company, specializing in acquiring undervalued gaming assets. The Company owns a hotel in Managua, a restaurant, bar, and casino also in Managua, and a slot parlor in Masaya, Nicaragua. The Company has agreements in place to build another hotel in El Crucero, Nicaragua, and is negotiating several Central American gaming projects. 

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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