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News for 'BFHJ' - (Beneficial Holdings, Inc. to Apply for Nevada Intrastate Gaming License)
LAS VEGAS, NV, Mar 19, 2012 (MARKETWIRE via COMTEX) -- Beneficial Holdings,
Inc. (PINKSHEETS: BFHJ), in its strategy to move its operations domestically,
announced that it intends to apply for a Nevada Intrastate Gaming License which
will enable it, partnered with a licensed casino operator, to offer certain
online games to residents of Nevada. With a license under Nevada Regulation 5A,
the Company may be able to offer non-gaming hotels access to the online casino
in customer rooms in Nevada for people want to play the offered games.
The Company is in negotiations with several consultants who work with Nevada
licensed casinos to finalize a joint venture agreement. In the interim, the
Company is establishing a system that will begin with poker and, as regulations
allow the expansion into other areas of play, offer live dealer games. The
Company, as a Nevada corporation, will acquire the facilities to headquarter its
technology in Nevada to make it a true intrastate offering.
As other states begin to allow licensing of online casinos, the Company will
attempt to utilize its forthcoming Nevada facilities where possible.
Pursuant to the September 2011 opinion by the United States Department of
Justice authored by Assistant Attorney General Virginia A. Seitz finding that
the Wire Act of 1961 only applies to sports gaming bets, the Company believes
that opportunities will be available for it on an intrastate level, state by
state, as regulations are issued. As such, the Company will focus its energy
domestically during this year.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is an international casino holding company,
specializing in acquiring undervalued gaming assets. The Company owns a bar and
casino also in Managua, a slot parlor in Masaya, Nicaragua, and a joint venture
in Ticuantepe, Nicaragua. The Company operates www.sportsbook.cr and www.bet.cr
online live dealer casinos for non-U.S. residents.
