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Beneficial Holdings, Inc.: Beneficial Holdings, Inc. Confirms Closing on First Gaming Establishment


//business-finance.news-articles.net/content/200 .. firms-closing-on-first-gaming-establishment.html
Published in Business and Finance on Tuesday, July 28th 2009 at 23:40 GMT, Last Modified on 2009-07-28 23:40:58 by Market Wire   Print publication without navigation


LAS VEGAS, NV--(Marketwire - July 29, 2009) - Beneficial Holdings, Inc. (PINKSHEETS: [ BFHJ ]), at a meeting that just ended after several hours of discussion, entered the necessary resolutions to finalize its first gaming establishment purchase. The transaction will close on the purchase of its first gaming establishment July 31, 2009. The establishment operates in Managua, Nicaragua.

Beneficial and the Sellers have agreed on all terms and conditions and will officially sign all closing documents on July 31, 2009. Effective August 1, 2009, the facility will reopen as a Beneficial Holdings' Nicaraguan staff managed operation. The gaming facility, bar, and snack shop will operate immediately, while the restaurant will become operational by August 30, 2009 after certain adjustments.

"The Company is extremely excited about this initial acquisition as this property will serve as the flagship of the company's entry into the Central American gaming market. The company aggressively looks towards the closing of its next location (which is already being negotiated). As the company's team of local professionals assume management of this location, they are already preparing for the next acquisition," said Carolina Navarro, President of Beneficial Holdings.

Carolina Navarro also stated, "The Company is very pleased to have reached a conclusion of this acquisition which we view as a very financially lucrative acquisition enabling us to flex our financial muscles in the Central American gaming market."

ABOUT BENEFICIAL HOLDINGS, INC.:

Beneficial Holdings Inc. is a Nevada corporation in operation since 1990. The company is in the process of purchasing and signing management agreements with various gaming and casino facilities in Nicaragua, Honduras, El Salvador, and Guatemala. In addition, the Company is entertaining several joint venture opportunities with established companies to operate online casinos for non-United States residents that will comply with United States and International law.


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