BFHJ Midnight News Out!!!
Beneficial Holdings Details Current State of the Company and Plans for 2010 LAS VEGAS, NV--(Marketwire - January 5, 2010) -
Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino investment and management holding company, today announced the current state of the company along with its upcoming 2010 strategy. Presently, Beneficial Holdings, Inc. operates two gaming establishments: The Vereda Tropical, which is a gaming center with a restaurant, lounge, and snack bar located in Managua, Nicaragua; and the Buchona, which is a slot parlor located in Masaya, Nicaragua. The Buchona was purchased as part of an agreement to acquire seven gaming locations. Beneficial Holdings will take possession of a third location per the purchase agreement within this first quarter. The minimal delay occurred to assure that the company receives a clear title. In 2009, the company announced that development of an online casino through our Latin American subsidiary was underway. The process, however, has taken more time than anticipated to finalize. Based upon the delays the company has experienced, we chose a vendor to assist us in the programming and maintenance of the online casino. Completion is expected within this first quarter. Finally, the company is involved in several yet to be announced targeted acquisitions with negotiations near finalization. We will also continue our business philosophy of identifying undervalued gaming locations within the Central American markets and acquire all that meet the company's rigid acquisition standards. "The company realizes its obligations to its shareholders and investors alike and will release the outcome of all relevant facts regarding all ongoing corporate activities and negotiations as they occur," said Carolina Navarro, President of Beneficial Holdings. About Beneficial Holdings, Inc.: Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued and mismanaged gaming assets. The company currently maintains capitalization of 129,000,000 authorized shares and is limited by corporate resolution not to increase the amount for a period of six months since passage of the resolution. The company currently funds its acquisitions with private investment capital with the intent to increase shareholder value while building a world-class gaming operation. The company maintains no convertible debt. 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 any statement to reflect future occurrences.
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