Beneficial Holdings Provides Current and Future Guidance
01 Dezember 2010 - 2:45PM
Marketwired
Beneficial Holdings Inc. (PINKSHEETS: BFHJ), today provided
guidance as to its end of the 2010 year along with its 2011
strategy.
Beneficial Holdings Inc., through its Central American
subsidiaries, will continue its strategy to acquire control over
small slot parlors in Central and South America. The Company's
review of the market demonstrates that the highest profitability is
achieved through smaller slot and gaming parlors which can be
managed with minimal overhead and employees. Larger casinos are not
faring as well mainly due to high overhead such as the need for
sophisticated training and surveillance. Small slot parlors, on the
other hand, achieve revenues of between $650,000 and $1,200,000 per
location and can be managed with only four to six employees.
Beneficial Holdings' objective is to achieve control between 30
to 60 additional gaming parlors in Central America by the end of
2011.
Notwithstanding the Company's favoring smaller facilities, the
Company is reviewing investments for minority interests in some
larger casino projects in South America during 2011. However, the
Company will not acquire more than 25% interest in those projects.
The projects will be in South America and will focus on facilities
with between 60 and 200 gaming machines.
The Company will continue to invest heavily into worldwide
marketing (excluding the United States) of its online gaming site,
www.bet.cr, and its upcoming sportsbook and virtual racing sites.
Discs are already being distributed in Central America and the
Company is preparing a mailing to persons who requested them
elsewhere.
The Company intends to initiate financial disclosures to its
shareholders with the intention to prepare an annual end of the
year financial report for 2010. The report, depending on a decision
by the Board of Directors and the cost effectiveness of the same,
may choose to provide the report to Pink OTC Markets to be listed
as a "limited" or "current" information company, or the Company
might file a Form 10 and register its securities for trading on the
OTC Bulletin Board or Pink OTC Markets OTCQB system.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings Inc. is a casino investment holdings
company, specializing in acquiring undervalued gaming assets. The
Company owns a hotel in Managua, a restaurant, bar, and casino also
in Managua, and it operates two gaming centers in Masaya. The
Company operates the www.bet.cr by Beneficial online casino.
This communication 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 statements to reflect future
occurrences.
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Media Relations Beneficial Marketing, Inc.
www.beneficialholdings.info www.bet.cr www.hotelbeneficial.com
+505-8367-3333 Telephone
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