SOURCE: Beneficial Holdings, Inc. by Beneficial worldwide casino affiliate network

November 10, 2010 01:49 ET

Beneficial Holdings Completes Acquisition of New Gaming Location in Masaya, Nicaragua

MASAYA, NICARAGUA--(Marketwire - November 10, 2010) - Beneficial Holdings, Inc. (PINKSHEETS: BFHJ) announced that, through its subsidiaries in Nicaragua, it has now closed on the previously announced second gaming center in Masaya, Nicaragua.

The current acquisition is located on a main commercial street near the Farmacia San Antonio and will house a slot parlor with approximately 25 modern gaming machines. The building that was acquired by the company is owned free and clear and has no loan or mortgage. It is titled to Recreaciones Beneficial, S.A., which is over 97% owned by Beneficial Holdings. 

"We have already contracted the workmen to begin work on the location with instructions to build it out as one of the most elegant parlors in the area. The company authorized a generous budget for this build out as we believe this is a prime area. Our marketing arm is already preparing cross promotions with the by Beneficial logo to supplement our website,," said Carolina Navarro, President of Beneficial Holdings, Inc.

As with company policy at all locations, online disks will be distributed to all players free of charge at the door so they may access our web-based casino from their home.

The gaming center, which will be operational in less than one month, will target tourists visiting Masaya's market area and focus on local mid and upper income players. "We believe that by having modern and advanced equipment at this new location we will be the place of choice to visit," Navarro said.


Beneficial Holdings, Inc. is a casino investment holdings company, specializing in acquiring undervalued gaming assets. The Company owns a hotel in Managua, a restaurant, bar, and casino also in Managua, and it operates two gaming centers in Masaya. The Company operates the by Beneficial online casino.

This communication 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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