NEWS!
Beneficial Holdings Inc. Prepares to Take Control of Its Third Gaming Parlor and Announces Other Corporate Actions
LAS VEGAS, NV -- (Marketwire) -- 11/05/09 -- Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today announced that it is preparing to take control of its third gaming parlor. The gaming facility is the second of the previously announced seven new locations the Company purchased.
The location currently operates twenty-one gaming devices including slot and digital poker machines.
Beneficial Holdings will immediately increase the machine count to forty-one machines within ninety days and bring in newer International Game Technology brand interactive gaming devices. In addition, Beneficial will increase sales by opening a convenience store within the location to sell snacks, beverages, newspapers, and sandwiches.
The gaming parlor is located approximately one mile from our other gaming location within the main market area of Masaya, Nicaragua, a popular tourist destination.
In other developments, the company's Board of Directors has passed a resolution authorizing the company to establish a brokerage account and simultaneously directing them to acquire certain securities. The company has a specific target but has not limited itself to any one security.
About Beneficial Holdings, Inc.:
Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued and undermanaged gaming assets, both small and large. The company currently maintains a capitalization of one hundred and twenty nine million authorized shares and is limited by corporate resolution not to increase said amount for six months. The company currently funds its acquisitions with private funding with the intent to increase shareholder value while building a world class gaming operation. The company maintains no convertible debt.
This press 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 the date hereof, and the company undertakes no obligation to update any statement to reflect occurrences after the date of this release.
Add to Digg Bookmark with del.icio.us Add to Newsvine
WS!
