SOURCE: Beneficial Holdings

Beneficial Holdings

January 26, 2012 01:12 ET

Beneficial Holdings Inc. to Divest Non-Gaming Assets

MANAGUA, NICARAGUA--(Marketwire - Jan 26, 2012) - Beneficial Holdings Inc. (PINKSHEETS: BFHJ), which manages the and by Beneficial live dealer casinos and sportsbooks, a hotel, and gaming parlors in Nicaragua, today announced that it tentatively plans to divest its non-gaming assets.

The Company's non-gaming assets include Hotel Beneficial Managua (property and business), the purchase agreements for the El Crucero hotel, the Montelimar Beach property agreements, and the portion of the El Transito purchase as it relates to the hotel plans only.

The Company will retain its gaming interests under its subsidiary, Grupo Beneficial, S.A., including its gaming internet domains and, its by Beneficial Tropical Vereda bar and casino, and its gaming parlor in Masaya, Nicaragua. The Company will retain the rights to build a slot parlor adjacent to the hotel on the El Transito property. Additionally, the Company negotiated the right to operate the gaming locations at the Montelimar Beach and El Crucero properties.

The Company will receive in excess of US$3,100,000.00 plus certain licensing fees in connection with the transaction. The proceeds will be used to expand the Company's gaming presence in Central America and to develop its plans to enter into the gaming market in the United States to the extent authorized by law.

The Company advises shareholders that it will focus solely on gaming for 2012 as the hospitality business, while profitable, does not provide as much growth as the Company needs. The hospitality assets impaired the Company's ability to expand into the more lucrative gaming markets.


Beneficial Holdings, Inc. is an international hotel & casino holding company, specializing in acquiring undervalued gaming & resort assets. The Company owns a hotel in Managua, a bar and casino also in Managua, a slot parlor in Masaya, Nicaragua with other properties either under development or in various negotiation stages.

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.

Contact Information

  • Contact Information
    Media Relations
    Beneficial Marketing, Inc.
    +505-8367-3333 Telephone