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BFHJ News:

Beneficial Holdings, Inc. Enters Understanding With Grupo Lafise Subsidiaries to Purchase Hotel
Date : 02/05/2010 @ 12:11PM
Source : MarketWire
Stock : Beneficial Holdings, Inc. (BFHJ)
Quote : 0.021 0.0 (0.00%) @ 12:17PM




Beneficial Holdings, Inc. Enters Understanding With Grupo Lafise Subsidiaries to Purchase Hotel

LAS VEGAS, NV -- (Marketwire) -- 02/05/10 --

Beneficial Holdings, Inc. (PINKSHEETS: BFHJ), a casino and hospitality investment and management holding company, entered into an understanding with Grupo Lafise subsidiaries Banco de Credito Centroamericano, S.A., and Inversiones ZUM to purchase a hotel in Managua, Nicaragua, from them

The hotel, to be known as "Hotel Beneficial," will be owned by one of Beneficial Holdings' Nicaraguan subsidiaries. The Company will establish a reservations website at www.hotelbeneficial.com over the next two weeks

Presently, Beneficial possesses two gaming properties in Nicaragua and expects to take possession of a third location in Tipitapa, Nicaragua, over the next ten days. The hotel will be the Company's fourth operating location. The Company's subsidiary will open an online casino for non-U.S players, known as www.bet.cr in March 2010

"We are extremely pleased to have been able to work with a respected financial institution in Nicaragua for the purchase of our first hotel in the Region. Grupo Lafise's representatives were understanding and efficient, and they moved the transaction forward promptly. We'll look at BanCentro's innovative financial products for our future business needs," Alex Papic, Vice President of Beneficial Holdings, Inc., said

ABOUT BENEFICIAL HOLDINGS, INC

Beneficial Holdings, Inc. is an international casino investment and management holding company, specializing in acquiring undervalued gaming assets. The Company presently maintains two physical gaming properties and is in the process of acquiring a third property while creating its online casino. The company is in the process of issuing a 6 for every 1 share dividend. The company funds its acquisitions with private investment capital with the intent to increase shareholder value while building a world-class gaming operation

The Company is in the process of a six share dividend to increase liquidity of its stock. An ex date has not been announced. The Company's authorized shares are 129,000,000 to increase to 903,000,000 to accommodate the six share dividend. Presently, there are 89,587,907 restricted shares, which will increase to 627,115,349 after the six share dividend. There are no more than 39,412,093 free-trading shares, which will be a maximum of 275,884,651 free-trading shares post-dividend

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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