BFHJ News 3.25
Press Release Source: Beneficial Holdings Inc. On Thursday March 25, 2010, 10:20 am
EL CRUCERO, NICARAGUA--(Marketwire - 03/25/10) - Beneficial Holdings (Pinksheets:BFHJ - News), a gaming and hospitality management company, entered into negotiations to build a small hotel and casino parlor in El Crucero, Nicaragua.
El Crucero, although a popular tourist area due to its magnificent views, cool temperatures, and other attractions, does not have a modern hotel or a casino. Beneficial Holdings believes that project will fill the void in the development of tourism in the area.
The project will be a joint venture between a Beneficial subsidiary and a Nicaraguan property developer. Beneficial believes it will maintain a 51% interest in the project.
"Most tourists visit El Crucero on a day trip because of the lack of facilities in the area. However, our analysis revealed a market for longer term tourism since the area features beautiful views during the day and night. With cool weather, plenty of forest areas, and safe and friendly neighborhoods to explore, Beneficial Holdings looks forward to helping develop the local economy," Alex Papic, Vice President of Beneficial Holdings 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 one hotel and two physical gaming properties. 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's authorized shares are 903,000,000. Presently, there are 627,115,349 restricted shares. There are no more than 275,884,651 free-trading shares. The Company has no intention of increasing its authorized shares.
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.
