SOURCE: Beneficial Holdings Inc.
MANAGUA, NICARAGUA–(Marketwire – December 1, 2010) – Beneficial Holdings Inc. (
Beneficial Holdings Inc., through its Central American subsidiaries, will continue its strategy to acquire control over small slot parlors in Central and South America. The Company’s review of the market demonstrates that the highest profitability is achieved through smaller slot and gaming parlors which can be managed with minimal overhead and employees. Larger casinos are not faring as well mainly due to high overhead such as the need for sophisticated training and surveillance. Small slot parlors, on the other hand, achieve revenues of between $650,000 and $1,200,000 per location and can be managed with only four to six employees.
Beneficial Holdings’ objective is to achieve control between 30 to 60 additional gaming parlors in Central America by the end of 2011.
Notwithstanding the Company’s favoring smaller facilities, the Company is reviewing investments for minority interests in some larger casino projects in South America during 2011. However, the Company will not acquire more than 25% interest in those projects. The projects will be in South America and will focus on facilities with between 60 and 200 gaming machines.
The Company will continue to invest heavily into worldwide marketing (excluding the United States) of its online gaming site, www.bet.cr, and its upcoming sportsbook and virtual racing sites. Discs are already being distributed in Central America and the Company is preparing a mailing to persons who requested them elsewhere.
The Company intends to initiate financial disclosures to its shareholders with the intention to prepare an annual end of the year financial report for 2010. The report, depending on a decision by the Board of Directors and the cost effectiveness of the same, may choose to provide the report to Pink OTC Markets to be listed as a “limited” or “current” information company, or the Company might file a Form 10 and register its securities for trading on the OTC Bulletin Board or Pink OTC Markets OTCQB system.
ABOUT BENEFICIAL HOLDINGS, INC.
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 www.bet.cr 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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