SOURCE: Conihasset


October 04, 2011 07:30 ET

Conihasset's Wholly Owned Subsidiary MH Gaming Reports 17.86% Increase in Continuing Same Store Sales for Third Quarter 2011

BOSTON, MA--(Marketwire - Oct 4, 2011) - Conihasset Capital Partners (PINKSHEETS: CNHA) announced today that its wholly owned subsidiary MH Gaming ("MHG") recorded an increase in continuing same store sales of 17.86% for the third quarter 2011 when compared to the third quarter 2010.

"This is a tremendous revenue result for MHG," stated Richard Bailey, President and Chief Executive of Conihasset. "The summer months are historically the slowest, most difficult three months of the year. The fact that Tom Melina and his management team exceeded our revenue expectations during the third quarter is very important as we position ourselves for the busy season over the next two quarters."

"I am obviously very pleased with our revenue results this quarter," stated Melina, MHG's Chief Operating Officer. "Our focus during the off-season was to experiment with different promotional approaches in an effort to better understand the customer experience. During this quarter we developed a very targeted and specific promotional strategy which resulted in three of our five best revenue days to date in 2011. We look forward to employing these strategies as well as other initiatives, such as our newly launched shuttle bus service, as we head into the busiest six months of the year."

During the quarter, MHG also closed the Vero Beach facility which had been consistently unprofitable since MHG acquired the three facilities on December 30, 2010.

About Conihasset: Conihasset Capital Partners, Inc. is a holding company quoted on the OTC Pink Market under the ticker symbol CNHA. The Company's primary operating subsidiary is MH Gaming ("MHG"), which currently owns and manages senior entertainment arcades in the state of Florida.

FORWARD-LOOKING STATEMENTS: Statements included in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "1995 Act"). Words such as "believe," "expect," "anticipate," "intend," "look forward," "opportunities," "potential," and similar expressions identify forward-looking statements. The Company cautions readers that forward-looking statements reflect the Company's current expectations and assumptions that are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected in the forward-looking statements. Statements made herein are made in reliance on the safe harbor for forward-looking statements contained in the 1995 Act. The Company assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements otherwise made by the Company.

Contact Information

  • Contact:
    Richard Bailey

    759 CJC Highway, #235
    Cohasset, MA 02025
    Tel: 617-320-8347
    Facsimile: 617-249-0198